Global Wood Based Panel Market Analysis & Trends - Industry Forecast to 2030
Wood Based Panel: Market Size
From $305,006.42 million in 2024, the global Wood Based Panel market is projected to reach $770,431.66 million by 2030. Based on our analysis the market is expected to grow at a CAGR of 16.7% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include lightweight wood products and furniture and innovations in the surfacing technology to apply coating materials, the rise in demand for wood-based panels, and the potential of the wood-framed construction industry.
Global Wood Based Panel Market: Market Dynamics
Low product cost coupled with superior properties including strength & durability and increasing investments in residential & commercial construction activities are the major factors driving the market growth.
On the other hand, stringent government regulations are likely to obstruct the profit boundaries. In addition, increasing demand from the infrastructure sector will further boost the Wood Based Panel market.
Impact of COVID-19 on Wood Based Panel
COVID-19 has already turned the world upside down and changed its destiny. The world plunged 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.
By Product
Plywood Segment Dominate the Market in 2024
The plywood segment made huge revenue in 2024 during the forecast period. Superior properties, such as high strength, durability, impact, chemical, fire, and moisture resistance offered by the product are expected to drive the wood-based panel market over the forecast period.
By Geography
North America Region is Leading in the Global Market Place
North America region is likely to have a huge demand in the forecast period owing to higher demand among consumers in countries in the region. The presence of leading wood-based panel manufacturers in this region and increasing demand for end applications are expected to fuel the market growth over the forecast period.
List of the Key Players Profiled in the Market Include: • An Cuong
• HeveaPac Sdn Bhd
• Kastamonu Entegre
• Klenk Holz GmbH
• Kronospan Limited
• Mieco Chipboard Berhad
• Norbord Inc
• Pfeifer Gruppe
• Robert Burkle GmbH
• SGS Industrial Services
• Sonae Industria SGPA S.A
• ARAUCO
• Starbank Panel Products Ltd
• Canfor
• Dare Panel Group Co Ltd
• Dongwha Malaysia Holdings Sdn Bhd
• EGGER Group
• Evergreen Fiberboard Berhad
• Georgia-Pacific
• Green River Holding Co Ltd
List of the Regions/Countries Profiled in the Market Include: North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others