Pune, India, January, 2019/MRFR Press Release/- Market research future published a half-cooked research report on Global Wood Based Panels Market. The Wood Based Panels Market is expected to grow over the CAGR of around 8% during the period 2018 to 2023.
The global wood based panels market is anticipated to witness sustainable growth throughout the forecast period. High demand from the construction sector for wide applications such as roofing, cladding, flooring, and ceiling is expected to improve sales prospects in the overall wood based panels market. Manufacturers in the industry are tapping lucrative opportunities by adopting key strategies such as investments, regional expansions, in order to increase their presence in the market. However, stringent regulations on manufacturing of wood based panels products are expected to be a threat to manufacturers.
Europe region, to see a gradual increase in the wood based panels market over the forecast period
Based on region, the global wood based panels market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Europe region dominated the global market, followed by North America, primarily due to the leading consumers and increasing manufacturing of wood based panels of such products. The rise in construction industry is attributed to private housing, commercial and infrastructure construction growth and impressive growth in privately funded projects. Moreover, various benefits of wood based panels such as high durability and low cost of the products has further enhanced the demand for the wood based panels market.
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MDF segment, to occupy a dominant position in the overall wood based panels market
Based on product, the MDF segment is expected to witness maximum growth rate from 2018 to 2023, due to its widespread use in commercial construction for flooring and cabinetry. These products are inexpensive as compared to other products and also can be stained or painted like wood. Companies are coming up with new innovations in the wood industry and are also investing in research & development activities to boost the demand for eco-friendly manufacturing wood-based panels.
Global Wood based panels Market, 2016-2023 (USD Million)
Source: MRFR Analysis
Scope of the Report:
This study provides an overview of the global wood based panels market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific and the rest of the world (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global wood based panels market by product, application, and region.
The prominent players in the wood based panels market are ante-Group, Dongwha Group, Klenk Holz AG, Kronospan, Caihong Wood Co. Ltd, Weyerhaeuser Company, Norbord Inc., Sonae Indústria, SGPS, SA, Kastamonu Entegre, Louisiana-Pacific Corporation, among others.