Global Wood-Based Panels Market at a CAGR of 7.17% During the Forecast Period 2025 to 2035

Rising Demand for Sustainable Construction to Drive the Global Wood-Based Panels Market at a CAGR of 7.17% During the Forecast Period 2025 to 2035

Market Research Future (MRFR) has published a cooked research report on the “Global Wood-Based Panels Market” that contains information from 2018 to 2035. The Wood-Based Panels Market is estimated to register a CAGR of 7.17% during the forecast period of 2025 to 2035.

MRFR Recognizes the Following Companies as the Key Players in the Global Wood-Based Panels Market— Ante Group (Germany), Donghwa Group (South Korea), Klein Holz AG, Kronospan, Caihong Wood Co., Weyerhaeuser Company, and Norbord.

Market Highlights

The Global Wood-Based Panels Market is accounted for to register a CAGR of 7.17% during the forecast period and is estimated to reach USD 211.88 billion by 2035, from USD 98.90 billion in 2024. The market growth is primarily driven by the increasing demand for sustainable building materials, expanding furniture industry, and technological advancements in wood processing. The rising global focus on eco-friendly construction and urbanization—especially across emerging economies like China, India, and Brazil—has accelerated the adoption of wood-based panels in furniture, flooring, and packaging applications.

The market is also witnessing increased investments in advanced manufacturing technologies and green panel production, promoting cost efficiency and sustainability. Moreover, government regulations favoring low-carbon construction practices are expected to further strengthen market demand over the coming decade.

Segment Analysis

Based on Product, the segment is categorized into MDF, HDF, OSB, Particleboard, Plywood and Others. Among these, Plywood dominated the market in 2021 and is projected to grow rapidly due to its high strength, durability, and moisture resistance. Meanwhile, Particleboard is expected to exhibit the fastest growth, attributed to its cost-effectiveness and homogeneity for use in furniture, flooring, and roofing.

By Application, the market segmented into Construction, Furniture and Packaging. The Furniture segment accounted for the largest market share in 2021 and will continue to grow due to rising global demand for premium hardwood and eco-friendly furniture. The Construction segment is also set to witness strong growth, driven by sustainable housing and infrastructure projects.

Regional Analysis

By Region, the Wood-Based Panels Market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia-Pacific dominates the global market, accounting for USD 33.8 billion in 2021, and is projected to grow at a CAGR of 41.90% during the study period. China, India, and Japan are key contributors due to high construction spending and rising industrial exports.

Europe is the second-largest market, with Germany leading in furniture production. The UK is expected to be the fastest-growing country in the region.

North America continues to register steady growth, supported by residential housing development and increasing furniture consumption. The U.S. remains a key contributor, followed by Canada.

Key Findings of the Study

• The Global Wood-Based Panels Market is expected to reach USD 211.88 billion by 2035, growing at a CAGR of 7.17%.


• Asia-Pacific dominates the market and is projected to remain the fastest-growing region through 2035.


• Plywood held the largest product share in 2024, while Particleboard is the fastest-growing product category.


• Furniture remains the leading application segment, supported by home décor and premium furnishing trends.


• Ante Group, Kronospan, Donghwa Group, Weyerhaeuser Company, and Norbord are among the leading players shaping market competition globally.