Wood Based Panel Market Destine to Reach USD 165,867.40 Million with Growing CAGR of 3.5% By 2029
Wood Based Panel Market
Wood based panel is a common term for an array of different board products with a good range of engineering properties
PUNE, MAHARASHTRA, INDIA, October 3, 2022 /EINPresswire.com/ — Wood Based Panel Market research report proves to be true in serving the purpose of businesses of making enhanced decisions, deal with marketing of goods or services, and achieve better profitability by prioritizing market goals. This market report is a resource that makes available current as well as upcoming technical and financial details of the industry to 2029. The report explains market definition, currency and pricing, market segmentation, market overview, premium insights, key insights and company profile of the major market players. Moreover, the first class Wood Based Panel business document provides the data and information for actionable, most recent, and real-time market insights which make it unfussy to take critical business decisions.
Data Bridge Market Research analyses that the wood based panel market is expected to reach the value of USD 165,867.40 million by the year 2029, at a CAGR of 3.5% during the forecast period. “Floor” accounts for the most prominent application segment in the respective market owing to the rise in wood based panels. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Wood based panel is a common term for an array of different board products with a good range of engineering properties. While some panel types are relatively new on the market, others have been developed and successfully introduced more than a hundred years ago. However, panel types with a long history of continuous optimization are still a long way from being fully developed and may always have a chance for improvement. Technological developments, on the one hand, and new market and regulative requirements, along with a steadily changing raw material situation, drive continuous improvements of wood based panels and their manufacturing processes
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Some of The Major Players Operating in the Wood Based Panel Market Are:
EGGER Group, Boise Cascade, West Fraser, Starbank Panel Products Ltd, Dongwha Group, Kronoplus Limited, BinderHolz GmbH, DARE panel group co., ltd., Georgia-Pacific, ARAUCO, Canfor, Sonae Industria, Evergreen Fibreboard Berhad, Mieco Chipboard Berhad, Green River Holding Co., Ltd., Kastamonu Entegre, PFEIFER GROUP, Weyerhaeuser Company, and Timber Products Company, among others.
This global wood based panel market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Wood based panel market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.
In November 2020, West Fraser acquired Norbord, creating a Diversified Global Wood Products Leader. This acquisition has increased the company’s credibility in the market and thus will help the company diversify its business.
In February 2021, Weyerhaeuser Company announced an agreement to purchase 69,200 acres of high-quality Alabama timberlands from Soterra. The company purchased these timberlands for approximately USD 149.00 million. The company will enhance its timberland operations and expand its customer base and future export opportunities.
The Study Is Segmented By Following:
The wood based panel market is segmented on the basis of product, distribution channel, thickness, application and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Oriented Strand Board
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Market Dynamics of the Global Wood Based Panel Market
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail as below:
Drivers/Opportunities Faced by the Global Wood Based Panel Market
Rise in consumer spending on wood based panels in the renovation of homes and furniture
The wood panel industry includes plywood sheets, engineered wood panels, MDF (Medium Density Fibre boards), furniture boards, particleboard, and decorative surface products such as laminates. A rise in consumer spending on wood based panels in the renovation of homes & furniture is expected to boost the wood based panels demand in commercial & residential buildings. Improvement and increase in building renovation activities with the adoption of wood based panels for an increase in the aesthetic is another factor driving the market’s growth. Moreover, the increased construction of public buildings, grand hotels, and resorts with decorative wood panels has led to the market’s growth.
Balanced import and export procedures of wood panels among the countries
The global trade in wood products is highly regionalized, with Europe, North America, and Asia. In recent years, the global trade of wood products has changed greatly with the rise in demand for wood panels and the increase in emerging markets of wood panels. In recent years, the increased production & trade of wood based panels product such as plywood, particleboard, fibreboard, oriented strand board, and lumber panels is increased due to the rise in demand from the housing market and the global increase in population.
Low product cost coupled with superior properties of wood panels, including strength and durability
The wood based panels are specialty products that provide advanced performance, long-term performance, and enhanced durability, less expensive to produce and use. The wood-based panels provide an array of possibilities in terms of structural and aesthetic applications. Because of its affordability, superior performance, and flexibility in design, construction, and renovation, the use of wood-based panels is increasing in residential constructions. Wood-frame construction has improved dramatically with faster construction, better utilization of fiber, less waste, and better quality control. New technological advances in EWPs and connections are positioning the wood products industry to compete successfully in constructing much larger and more complex structures.
Rise in investments and initiatives towards construction activities for both commercial and residential
The construction industry has become a robust and efficient manufacturing sector worldwide. Across the countries, growth in demand for construction and real estate projects is driven by macro-economic and disruptive megatrends, such as increasing urbanization, expanding trade, demographic trends such as rising income levels, and technology and sustainable environments. With that, various projects have been initiated to create socially inclusive, sustainable communities, as the economic growth of any country is primarily dependent on the development of its infrastructure.
Restraints/Challenges Faced by the Global Wood Based Panel Market
Rise in concerns of dust by wood panel usage
The wood-based panels cover the production of various products. While the production flow differs from product to product, there are some common features in terms of the key environmental issues. Emissions of dust, organic compounds, and formaldehyde are the main rising concerns while manufacturing wood panel products. Fine particulate matter emissions contribute to dust emissions from wood-based panel production, where particles below 3 µm can constitute up to 50 % of the total dust measured due to dust emissions from wood-based panels’ manufacturing, causing health and environmental problems, which is high on the environmental policy agenda.
Fluctuation in the prices of wood pulp
Fluctuation in the raw materials price will affect the production cost of the wood based panel’s products. The change in the production cost will change the revenue for the manufacturers. Wood pulp is taken from the trees, but due to the more demand in the different regions, import and export of the wood pulp are done within the specified quantity. The raw material is available in different quality and at different rates, due to which wood-based production is very difficult for the manufacturers. Highly fluctuating raw materials costs and ineffective price management can greatly endanger a manufacturer in the market. Due to the raw material price fluctuation, the manufacturers can now fix the product cost, resulting in a loss for manufacturers.
Fluctuation of raw material prices and supply chain inconsistency
The supply chain ecosystem has become increasingly volatile due to a shortage of factors such as high product costs, transportation costs, etc. Wood product manufacturers are facing many challenges due to the high variability of raw materials. Each processing step in manufacturing impacts material utilization and cost efficiency, which is the reason for the higher material cost. The most common challenge for the wood products manufacturer is to make a profit and execute the manufacturing process at low cost but with high-cost variable raw material.
Global Wood Based Panel Market Regional Analysis/Insights
The global wood based panel market is analyzed, and market size insights and trends are provided by product, distribution channel, thickness, application, and end users, as referenced above.
The countries covered in the global wood based panel market report are the U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Hong Kong, Malaysia, Philippines, Australia & New Zealand, Taiwan and Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, and Rest of Middle East and Africa.
Asia-Pacific dominates the market due to a rise in consumer spending on wood based panels in the renovation of homes and furniture in the region. The rise in investments and initiatives towards construction activities for both commercial and residential is propelling the region’s demand for wood-based panels.
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Research Methodology: Global Wood Based Panel Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Expert Analysis, Import/Export Analysis, Pricing Analysis, Production Consumption Analysis, Climate Chain Scenario, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Pointers Covered in the Wood Based Panel Market Industry Trends and Forecast
Market New Sales Volumes
Market Replacement Sales Volumes
Market Installed Base
Market By Brands
Market Procedure Volumes
Market Product Price Analysis
Market Cost of Care Analysis
Market Shares in Different Regions
Recent Developments for Market Competitors
Market Upcoming Applications
Market Innovators Study
Table of Content: Global Wood Based Panel Market
Part 01: Executive Summary
Part 02: Scope of the Wood Based Panel Market Report
Part 03: Global Wood Based Panel Market Landscape
Part 04: Global Wood Based Panel Market Sizing
Part 05: Global Wood Based Panel Market Segmentation By Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
To check the complete Table of Content click here: @ https://www.databridgemarketresearch.com/toc/?dbmr=global-wood-based-panel-market
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