The global wood based panel market size is estimated to reach USD 212.2 billion by 2025, accelerating at a CAGR of 6.4% over the forecast period

Increasing utilization of wood based panels in construction and furniture applications on account of their durability, high strength, and light weight is expected to drive the market over the forecast period.


New York, Oct. 16, 2019 (GLOBE NEWSWIRE) -- announces the release of the report "Wood Based Panel Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2019 - 2025" -

The market is highly dependent on wood supply, which directly influences the product pricing and profit margins of market players.Moreover, the presence of a stringent regulatory framework associated with forestry, which limits the woodcutting operations, is likely to affect the availability of raw materials.

As a result, the prices of wood based panels are expected to rise over the forecast period.

The U.S. emerged as the largest producer of industrial round wood in 2018, followed by China, Russia, and Canada. Thus, the manufacturers of wood-based products are primarily located across these countries to gain easy access to raw materials. However, the constant rise in the production of industrial round wood in South America is expected to compel manufacturers of wood-based products to shift their focus toward this country.

Investments, divestments, and regional expansion are the key strategies adopted by various players such as Pasquier Panel Products, Inc., An Cuong Wood Working Joint Stock Company, and Beecher & Myers Co., Inc. Wood-based panel industry participants majorly compete on the basis of production volumes and product quality. Wide distribution channels and varied product portfolio offered by the key players are expected to give them a competitive edge.

Further key findings from the report suggest:
• Plywood emerged as the dominant segment in 2018 and accounted for a revenue share of 39.6% in the global wood based panel industry on account of its superior characteristics including affordability, durability, moisture resistance, and high strength
• MDF emerged as the second-largest product segment in 2018 and is likely to ascend at a CAGR of 5.8% over the projected period on account of its increasing demand for manufacturing wall panels, storage units, and display cabinets
• Furniture was the largest application segment of wood based panel market in 2018 and is projected to continue its dominance over the forecast period owing to increasing consumer spending on diversified wood-based furniture products with an aesthetic appeal
• Construction application is likely to progress at a CAGR of 7.5%, in terms of revenue, over the projected period owing to rising product demand for manufacturing lightweight and durable windows, doors and wall solutions
• Well-established distribution network, a strong foothold in the domestic market, and customized solution offerings are expected to emerge as the key factors for the manufacturers to sustain and grow.
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