The Wood-based Panel Market size is estimated at 403.87 Million cubic meters in 2024, and is expected to reach 474.36 Million cubic meters by 2029, growing at a CAGR of greater than 3% during the forecast period (2024-2029).
The market studied was negatively impacted by COVID-19 in 2020. Several countries imposed anti-dumping duty on the import of a certain variety of fiberboard used in furniture in order to aid domestic producers. All the construction work and other activities were put on hold to curb the spreading of the virus, thereby negatively affecting the market. However, the market studied is projected to grow steadily, owing to increased building and construction activities since 2021.
The wood based panel market is highly fragmented in nature. The major players (not in any particular order) include Kronoplus Limited, West Fraser, ARAUCO, EGGER, and Kastamonu Entegre.
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