Wood Based Panels Market Research Report – Global Forecast till 2030

Wood Based Panels Market Research Report, By Product (MDF, HDF, OSB, Particleboard, Plywood, and Others), Application (Construction, Furniture, and Packaging) and Region — Global Forecast till 2030

ID: MRFR/CO/5665-HCR | September 2022 | Region: Global | 100 Pages         

Wood Based Panels Market

The wood-based panels market growth rate should be 7.30% for the time period that this research report covers. The wood-based panels market valuation was USD 1,39,518.70 billion in 2030.

Segmentation

By Product Mdf Hdf Osb Particleboard Plywood Others
By Application Construction Furniture Packaging

Key Players

  • Ante Group - Germany
  • Donghwa Group - South Korea
  • Klein Holz AG
  • Kronospan
  • Caihong Wood Co
  • Weyerhaeuser Company
  • Norbord

Drivers

  • Rapid urbanization
  • Increase in demand for green buildings
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Market overview


The wood-based panels market growth rate should be 7.30% for the time period that this research report covers. The wood-based panels market valuation was USD 1,39,518.70 billion in 2030. It will be USD 225 billion in 2026.


Wood-based panels encompass a variety of boards that are made out of different species of wood. Construction developers and contractors prefer to use them because they are strong and durable. In fact, they can last for several years in different buildings.


COVID-19 analysis


COVID-19 has already turned the world upside down and changed its destiny. The world hurtled towards the digital era as concepts like remote working and learning, e-commerce, and social distancing became common. People wanted to avoid the risk of getting this potentially dangerous virus.


Governments around the world responded by instituting national lockdowns and quarantines. Many businesses were hit hard by this. The companies in the wood-based panels industry were no exception. They found it hard to procure raw materials and sell finished products because of disrupted supply chains. What made matters worse was the fact that certain nations passed anti-dumping laws. This dramatically raised the price of imported wood-based panels.


Competitive landscape


The wood-based panels market is very competitive. It’s also fairly fragmented. The reasons for this are the fact that the market is relatively lucrative. It is also clocking a respectable CAGR for both the short and long terms. There are relatively few barriers to entry into the wood-based panels industry. Therefore, companies with huge treasuries (AKA larger companies and multinationals) are entering the industry in large numbers every year!


Companies find that they must invest heavily in research and development if they want to continue to develop the new products that will allow them to create the sustainable competitive advantage that they need to remain profitable.


They also find that strategic partnerships and mergers and acquisitions with successful companies help them create the sustainable competitive advantage that they will need to remain profitable, and hence, financially and economically viable.


Ante Group is a major German player in the global wood-based panels industry. It became successful and remained that way by investing heavily in research and development. Thus, it was able to develop and market new products that allowed it to justify charging consumers much more. It was also able to develop a sustainable competitive advantage.


List of companies



  • Ante Group - Germany

  • Donghwa Group - South Korea

  • Klein Holz AG

  • ,Kronospan,

  • Caihong Wood Co. Ltd,

  • Weyerhaeuser Company,

  • Norbord Inc.


Market dynamics


Drivers


What’s driving breakneck growth in the wood-based panels industry has been the fact that the construction industry is picking up in terms of growth in the post-pandemic world. Increased economic growth and industrialization in developing nations have translated into dramatically higher investments in their commercial and residential construction sectors.


The fact that this world is rapidly urbanizing means that the demand for green buildings is increasing dramatically. This is another huge growth driver in the wood-based panels industry.


Opportunities


Wood-based panels have far more uses in commercial and residential buildings than they did in the past. This is creating tremendous opportunities for manufacturers. They’re investing heavily in research and development to come up with technologies that will allow wood-based panels to have even more useful applications. One such example is ready to assemble furniture.


Restraints


Manufacturing wood-based panels can harm the environment. Many toxins and pollutants like dust, total organic carbon, and formaldehyde are released during the manufacturing process. This is holding back wood-based panels market growth.


Challenges


Perhaps the greatest challenge that companies in the wood-based panels market face lie in developing processes of manufacturing these panels that are environmentally friendly while keeping the price points affordable for most consumers around the world.


Cumulative growth analysis


The wood-based panels market growth rate should be 8% for the time period that this research report covers. The wood-based panels market valuation was USD 12,423.17 billion in 2020. It will be USD 225 billion in 2026.


Technology analysis


Companies in the global wood-based panels industry are investing heavily in new technologies. These will allow them to make a variety of new products that use wood-based panels. One such line of products is small pieces to accent houses and existing furniture.


Segment overview


By product


The product segment can be further categorized into the following sub-segments:



  • MDF

  • HDF

  • OSB

  • Particle board

  • Soft Word

  • Plywood

  • Others


MDF had the largest wood-based panels market share. In fact, it had 45% of the total market share for the product segment. This sub-segment should have a high CAGR for the time period that this report covers. The reason for this is that these panels come in horizontal and vertical forms. They have many applications in the construction industry. It’s also very versatile.


MDF panels are used to make floors, furniture, and cabinets that are used in residential and commercial units worldwide.


By application


The application segment can be further categorized into the following sub-segments:



  • Construction

  • Furniture

  • Packaging


The construction sub-segment had the largest wood-based panels market share. This will be the case for at least the next two years. This sub-segment is also expected to have a high CAGR. What accounts for this is the rapid and dramatic increase in demand for flooring, outside and inside staircases, shear walls, and cladding.


The construction sub-segment can be further grouped into:



  • Flooring and roofing

  • Windows and doors

  • Siding

  • Others


The furniture sub-segment can be further grouped into:



  • Residential

  • Commercial


The furniture sub-segment should have the largest CAGR for the time period that this report covers. Wood-based panels in this sub-segment are used to make durable items.


Regional analysis


The global wood-based panels market can be grouped into the following regions:



  • North America

  • The European Union

  • Asia-Pacific

  • The Rest of the World


The Asia-Pacific region currently has 56% of the total global wood-based panels market share. This region also has the world’s highest CAGR. Increased industrialization and modernization and high economic growth in almost all nations in this region are expected to mean that these trends will continue for the time period that this report covers!


In China, especially, the government has ambitious plans. It plans to embark on ambitious construction projects which will allow almost a fifth of its population to move freely throughout the nation. These people will also have a much easier time moving from the countryside where jobs tend to be scarce to the cities where jobs tend to be more plentiful!


India also has ambitious projects for infrastructure development and the construction of new housing for rural migrants and slum dwellers.


The crisis in Syria and many parts of the Middle East and North Africa has seen the migration of hundreds of thousands of people from this region to the European Union. Germany, in particular, has been flooded by these migrants. This has created enormous demand for new residential units which will drive CAGR in the regional wood-based panels market.


France has signed up for the Agenda for Sustainable Development. This plan mandates that nations build decent housing for as many of their citizens as possible. The national government has allocated more funds to the French Development Agency. The objective is to ensure that more and more French citizens, visitors, and residents can live in affordable housing by the end of the decade.


The American Institute of Architects recently released a new study. It stated that commercial building is expected to grow modestly for the time period that this report. However, this (surprisingly) doesn’t include the construction of new hotels.


The United States of America accounts for the majority of new spending and construction in the wood-based panels market in the North American region. The North-American region has the second-largest market share. It will also have a decent and sustainable CAGR for the time period that this report covers.


The real estate market is booming in North America, especially in the commercial sector. This is driving CAGR for the regional wood-based panels market. Many wood-based panels manufacturers and distributors also call the North American region home. This is another reason why the North American region has a relatively high market share and CAGR.


The European Union accounted for 25% of the global wood-based panels market share. This is expected to be the case for the time period that this report covers. Also, the European Union has been clocking a respectable CAGR. It should continue for the time period that this report covers.


Its commercial, residential, and industrial sectors are booming. That’s what’s accounting for the high wood-based panels market growth rate.


Recent developments



  • West Frasier recently strengthened its portfolio by acquiring Norbord Inc.

  • Arauco recently acquired another company. The move allowed it to sell more in the North American market


Report overview


The wood-based panels market growth rate should be 8% for the time period that this research report covers. The wood-based panels market valuation was USD 12,423.17 billion in 2020. It will be USD 225 billion in 2026.


The Asia-Pacific region has the highest CAGR and market share respectively. The Western Region and the European Union come in second and third place respectively.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 1,39,518.70 million
  CAGR   7.30% 2030
  Base Year   2021
  Forecast Period   2021-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Technology, by Application, by Material
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   ante-Group, Dongwha Group, Klenk Holz AG, Kronospan, Caihong Wood Co. Ltd, Weyerhaeuser Company, Norbord Inc
  Key Market Opportunities

  • Increase in growth of construction industry
  • Growing investments in residential and commercial construction
  •   Key Market Drivers

  • Rapid urbanization
  • Increase in demand for green buildings


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    Frequently Asked Questions (FAQ) :

    The CAGR would be 7.30% for wood-based panels market during the forecast 2021-2030.

    Growing investment in residential and commercial constructions would trigger growth for wood-based panels market.

    The APAC region would lead wood-based panels market.

    China and India would dominate the APAC wood-based panels market.

    Repair and renovation in commercial sector and real estate would inspire changes in the North American wood-based panels market.