Europe Wood-based Panel Market Size & Trends Analysis Report By Product (Plywood, MDF, HDF, Particleboard, OSB, Softboard, Hardboard), By Application (Construction, Packaging, Furniture), And Segment Forecasts, 2023 - 2030

Europe Wood-based Panel Market Size & Trends Analysis Report By Product (Plywood, MDF, HDF, Particleboard, OSB, Softboard, Hardboard), By Application (Construction, Packaging, Furniture), And Segment Forecasts, 2023 - 2030

Europe Wood-Based Panel Market Growth & Trends

The Europe wood-based panel market size is expected to reach USD 84.21 billion by 2030, registering a CAGR of 8.6% over the forecast period, according to a new report by Grand View Research, Inc. The market has been growing in recent years owing to increasing product demand in the construction, furniture, and packaging industries. The growing demand for packaging materials that are biodegradable, compostable, and recyclable is driving the growth of the market in this application. The growth of the construction sector and rapid urbanization in Europe have also contributed to the market growth. The product demand is growing due to the increasing construction activity and consumer demand for environmentally sustainable products.

Key product manufacturersin Europe are also investing in advanced technologies and processes to improve efficiency, reduce costs, and enhance product quality to increase theirsales. The market is heavily influenced by import and export dynamics, with countries, such as China and Russia, being major suppliers to the region. In addition, the cost of wood-based panels is subject to volatility due to fluctuations in raw material prices, currency exchange rates, and other macroeconomic factors. Key players compete on the basis of product differentiation, brand recognition, and distribution network. In addition, environmental and sustainability concerns are becoming increasingly important for many consumers, and companies that can demonstrate environmentally friendly practices and materials are likely to have a competitive advantage.

The market is highly competitive, with the presence of several local and international manufacturers in the region. The European Union regulations regarding environmental protection and sustainability are also driving manufacturers to adopt more sustainable practices and reduce their environmental footprint. In recent years, there has been a trend towards consolidation in the industry, with larger players acquiring smaller ones to expand their industry share and product offerings within the Europe region. However, Small- and Medium-sized Enterprises (SMEs) can still compete effectively by focusing on niche markets and offering customized products.

Europe Wood-Based Panel Market Report Highlights

• The OSB panel segment is expected to grow at a steady CAGR, in terms of revenue, over the forecast period. These products are manufactured using rectangular-shaped wood strands and waterproof heat-cured adhesives
• The strands are arranged in cross-oriented layers, enabling more strength and better product performance as compared to plywood. The demand for OSB panels is majorly driven by the growing demand for construction and renovation projects, as well as the increasing use of OSB panels as a substitute for other building materials, such as plywood
• The plywood segment led the marketin 2022 and is likely to grow at a steady CAGR during the forecast period. Plywood is manufactured by gluing multiple thin layers of veneer. Superior properties, such as high strength, durability, & impact and chemical, fire, and moisture resistance offered by the product are expected to drive the segment over the forecast period
• The furniture application segment is expected to grow at a considerable CAGR over the forecast period. The increasing demand for ethnic design furniture for living rooms and bedrooms in the region is expected to drive growth over the projected period. In addition, the rising demand for furniture made from sustainable materials is contributing to the growth ofthis application segment
• Wood-based panels offer high strength and impact resistance, which, in turn, makes them a preferred packaging material, especially for long-distance transports. Furthermore, the growing demand for packaging materials that are biodegradable, compostable, and recyclable is driving the growth of the segment growth

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