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Wood Based Panels Market Report by Product Type (Medium Density Fiberboard (MDF)/High Density Fiberboard (HDF), Oriented Strand Board (OSB), Particleboard, Softboard and Hardboard, Plywood, and Others), Distribution Channel (Direct Sales, Online Stores, Specialty Stores, and Others), Application (Furniture, Construction, Packaging, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A5453
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Market Overview:
The global wood based panels market size reached US$ 175.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 284.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.4% during 2024-2032.
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Report Attribute
|
Key Statistics
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|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 175.1 Billion |
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Market Forecast in 2032
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US$ 284.0 Billion |
| Market Growth Rate 2024-2032 | 5.4% |
Wood based panels are made from wood chips, strips, veneers, strands or fibres. They comprise particleboard, medium-density fiberboard (MDF), high-density fiberboard (HDF), plywood, softboard, hardboard, and oriented strand board (OSB). They are cost-efficient due to the utilization of surface veneering technology of particleboard and moderate density fiberboard in their manufacturing. In addition, they are moisture and temperature-resistant with enhanced shape stability compared to solid wood furniture. As a result, they find extensive applications in the construction, packaging, and shipping industries across the globe.
Wood Based Panels Market Trends:
At present, there is a rise in the utilization of wood based panels for providing high structural durability to roofs and floors, walls, beams, doors, and staircases. This, along with the growing demand for oriented strand board (OSB) as it is a cost-effective solution for home construction, represents one of the key factors driving the market. Moreover, governments of several countries are extensively investing in the infrastructure development of residential and commercial sectors around the world. This, coupled with the burgeoning construction industry, is propelling the growth of the market. In addition, the rising demand for aesthetically appealing furniture among individuals is offering lucrative growth opportunities to industry investors. Besides this, key market players are performing research and development (R&D) activities to introduce innovation in the production processes of wood based panels. In line with this, they are focusing on capacity expansion to cater to the increasing demand for wood based panels among consumers, which is positively influencing the market. Apart from this, the mechanical innovation and expanding productivity in fixing, assembling, and redesigning exercises of wood based panels are bolstering the growth of the market. Other growth-inducing factors are rapid urbanization, the growing global population, and inflating income levels of individuals.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global wood based panels market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product type, distribution channel and application.
Breakup by Product Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Medium Density Fiberboard (MDF)/High Density Fiberboard (HDF)
- Oriented Strand Board (OSB)
- Particleboard
- Softboard and Hardboard
- Plywood
- Others
Breakup by Distribution Channel:
- Direct Sales
- Online Stores
- Specialty Stores
- Others
Breakup by Application:
- Furniture
- Construction
- Packaging
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Binderholz GmbH, Dongwha Enterprise, EGGER Group, Evergreen Fibreboard Berhad, Georgia-Pacific LLC (Koch Industries Inc.), Green River Holding Co. Ltd., Kastamonu Entegre, Louisiana-Pacific Corporation, Sonae Arauco, Starbank Panel Products Ltd., West Fraser Timber Co. Ltd. and Weyerhaeuser Company.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Product Type, Distribution Channel, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Binderholz GmbH, Dongwha Enterprise, EGGER Group, Evergreen Fibreboard Berhad, Georgia-Pacific LLC (Koch Industries Inc.), Green River Holding Co. Ltd., Kastamonu Entegre, Louisiana-Pacific Corporation, Sonae Arauco, Starbank Panel Products Ltd., West Fraser Timber Co. Ltd. and Weyerhaeuser Company |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global wood based panels market was valued at US$ 175.1 Billion in 2023.
We expect the global wood based panels market to exhibit a CAGR of 5.4% during 2024-2032.
The extensive utilization of wood based panels across construction, packaging, and shipping industries, as they are cost-effective, aesthetically appealing, and temperature-resistant with enhanced shape stability, is primarily driving the global wood based panels market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in numerous construction activities, thereby negatively impacting the overall demand for wood based panels.
Based on the product type, the global wood based panels market has been segmented into Medium Density Fiberboard (MDF)/High Density Fiberboard (HDF), Oriented Strand Board (OSB), particleboard, softboard and hardboard, plywood, and others. Among these, plywood represents the largest market share.
Based on the application, the global wood based panels market can be bifurcated into furniture, construction, packaging, and others. Currently, furniture accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where Asia-Pacific currently dominates the global market.
Some of the major players in the global wood based panels market include Binderholz GmbH, Dongwha Enterprise, EGGER Group, Evergreen Fibreboard Berhad, Georgia-Pacific LLC (Koch Industries Inc.), Green River Holding Co. Ltd., Kastamonu Entegre, Louisiana-Pacific Corporation, Sonae Arauco, Starbank Panel Products Ltd., West Fraser Timber Co. Ltd., and Weyerhaeuser Company.
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