Wood Based Panel Market Worth $174.55 Billion by 2025 | CAGR: 7.7%: Grand View Research, Inc.
SAN FRANCISCO, July 2, 2018 /PRNewswire/ --
The global wood based panel market [https://www.grandviewresearch.com/industry-analysis/wood-based-panel-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_July02_Wood_Based_Panel_RD1&utm_content=Content ] size is expected to reach USD 174.55 billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.7% CAGR during the forecast period. High demand as an insulating material for wall cladding, ceiling, roofing, and flooring applications is expected to boost market growth over the coming years.
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The global industry is dynamic and highly competitive in nature. Investments, divestments, and regional expansions are key strategies adopted by players to strengthen their presence in the market. On the down side, increasing raw material prices and lack of technological innovation are expected to be a key concern for industry players.
Innovations in the traditional woodworking industry to produce more sustainable products, such as MDF, particleboard, OSB, and HDF, which can be employed in specific application areas, are expected to boost market growth over the forecast period. Companies are investing in R&D activities to come up with environment-friendly manufacturing wood based panels.
Growing population, uncertain monsoons, and rapid industrialization across the globe are major factors that have resulted in deforestation, which, in turn, has led to low availability of raw materials. Increasing raw material prices and high competition among industry players are expected to shrink profit margins of industry players over the forecast period.
Stringent regulations imposed on manufacturing of wood based panels are expected to be a key threat to market players. Moreover, high initial investments and operational costs associated with the machinery are expected to trigger entry barriers, thereby lowering the threat of new entrants over the forecast period.
Browse full research report with TOC on "Wood Based Panel Market Size, Share & Trends Analysis Report By Product (Plywood, MDF, Particleboard, Softboard, Hardboard), By Application (Furniture, Construction, Packaging), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/wood-based-panel-market [https://www.grandviewresearch.com/industry-analysis/wood-based-panel-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_July02_Wood_Based_Panel_RD2&utm_content=Content ]
Further Key Findings From the Report Suggest:
- The MDF product segmentis expected to register a CAGR of 8.9% over the projected
period, on account of its preference in construction and decoration applications. This
can be attributed to its consistent particle size, shape, and strength
- Particleboard is anticipated to be the fastest growing product segment on account of
its rising demand in the construction sector for underlayment and roofing. This is due
to its sturdy and rigid properties
- Enhanced properties such as high strength, moisture resistance, chemical resistance,
fire resistance, and durability offered by plywood can be credited to its high market
value of USD 37.24 billion in 2016
- Furniture dominated the market by application in 2016, accounting for a 47.5% share.
Wood based panels find high demand for manufacturing lightweight, well-finished, and
durable decorative products
- Asia Pacific held the largest market share of 58.4% in 2016 and is expected to
dominate the industry over the forecast period on account of high investments in the
construction sector in the region
- Key participants including Canfor, ante-Group, Georgia-Pacific, Idaho Forest Group,
LLC, and Kronospan Limited are investing in R&D activities to come up with sustainable
wood based panels to gain a competitive edge over their competitors.
Browse related reports by Grand View Research:
- Cold Insulation Market
[https://www.grandviewresearch.com/industry-analysis/cold-insulation-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_July02_Wood_Based_Panel_RL1&utm_content=Content ]
- Growing importance for energy efficiency on account of rising energy
costs is expected to be a major factor driving the global cold insulation market over
the next six years.
- Environmental Health And Safety Market
[https://www.grandviewresearch.com/industry-analysis/environmental-health-and-safety-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_July02_Wood_Based_Panel_RL2&utm_content=Content ]
- The global environmental health and safety market
size was USD 49.8 billion in 2015.
- Roofing Materials Market
[https://www.grandviewresearch.com/industry-analysis/roofing-materials-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_July02_Wood_Based_Panel_RL3&utm_content=Content ]
- The global roofing materials market size was estimated at USD 105.4
billion in 2015 and is projected to grow at a CAGR of 3.1% from 2016 to 2025.
- Prestressed Concrete (PC) Wire and Strand Market
[https://www.grandviewresearch.com/industry-analysis/prestressed-concrete-pc-wire-strand-market ]
- The global prestressed concrete (PC) wire and strand market was
estimated at 3,405.0 kilotons in 2016.
Grand View Research has segmented the global wood based panel market on the basis of product, application, and region:
- Wood Based Panel Product Outlook (Volume, Thousand Cubic Meters; Revenue, USD
Million, 2014 - 2025)
- MDF
- Standard MDF
- Thin MDF
- HDF
- Particleboard
- OSB
- Softboard
- Hardboard
- Plywood
- Wood Based Panel Application Outlook (Volume, Thousand Cubic Meters; Revenue, USD
Million, 2014 - 2025)
- Furniture
- Construction
- Windows & doors
- Flooring & decking
- Siding
- Others
- Packaging
- Wood Based Panel Regional Outlook (Volume, Thousand Cubic Meters; Revenue, USD
Million, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- France
- U.K.
- Belgium
- The Netherlands
- Spain
- Portugal
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- The Middle East & Africa
Explore the BI enabled intuitive market research database, The Grand Library [https://www.grandviewresearch.com/grand-library?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_July02_Wood_Based_Panel_BI&utm_content=Content ] , by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:
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Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
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Email: sales@grandviewresearch.com
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SOURCE Grand View Research, Inc.
