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Global Wood Based Panel Market by Product (Particleboard, OSB, Plywood, MDF, Hardboard, HDF), by Application (Construction, Furniture) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: CNS-73757
  • Author: Up Market Research
  • Rating: 4.5
  • Total Reviews: 68
  • No. Of Pages: 245
  • Format:
  • Pub. Date: 2021-10-21
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Summary of the Report

In 2019, the global wood-based panel market was valued at USD 144.67 million. It is expected to grow at 6.9% revenue-based CAGR between 2020 and 2027. Wood based panels are highly sought after for their low cost and superior properties, including strength and durability, in ceiling, roofing, flooring, and other furniture applications.

Wood-based panels will be in demand due to increased investments in commercial and residential construction across all major geopolitics. The market will be supported by increasing public-private partnerships in developing the construction sector of emerging economies like India, China, and Saudi Arabia.

The U.S. was the dominant market in North America for wood-based panels in 2019, with an 85.52% share. This is due to strong growth in domestic construction spending. Other factors that will drive regional product demand are rising consumer spending on attractive furniture products and substantial growth in single-family house constructions.

The raw materials required for the manufacture of wood-based panels, including fiber wood and lumber, are obtained from sawmills and log merchants. Market participants should be concerned about price fluctuations and inconsistency in raw material supply.

To meet the growing demand from end-use industries for wood-based products, market leaders are focusing their efforts on capacity expansion. This will allow them to compete in a highly competitive market. To meet increasing domestic demand for wood-based panels, Dongwha Group purchased a new MDF production plant in Vietnam in 2017.

The growth is expected to be hampered by rising concerns like dust, total organic matter, and formaldehyde emissions during product manufacturing. The market will likely benefit from the increased efforts of the manufacturers to improve manufacturing processes and reduce environmental impact.

Product Insights

Plywood was the most-loved product category in 2019. This is made by glueing thin veneer layers together. The product's superior properties such as strength, durability, impact resistance, fire and chemical resistance are expected to propel the wood-based panel market during the forecast period.

Particleboard is more dense and uniform than plywood and traditional wood products, and this will have a positive effect on the market over the forecast period. Particleboards come in a variety of grades and are in high demand for furniture, flooring and roofing.

The segment of MDF wood-based panels was valued at USD 25.6 Billion in 2019. It is expected to grow at a 6.4% CAGR over the forecast period. This product is considered a superior alternative to traditional products because it lacks rings and knots. Because of its consistent particle size, good strength, and high demand, the product will see a rise in sales.

The OSB panel segment will grow at 7.8% CAGR in terms of revenue over the forecast period. These products are made using rectangular-shaped wood strips and waterproof heat-cured adhesives. Cross-oriented layers allow for greater strength and product performance than plywood.

Application Insights

Wood-based panels are strong and impact resistant, making them a great packaging material for long-distance transport. The market is expected to grow over the forecast period due to rising product utilization as an environment-friendly packaging material that will replace non-recyclable packaging material such as polys. The market will be driven by the growing preference for traditional furniture in bedrooms and living rooms over the forecast period. The growth is expected to be boosted by an increase in product demand for small accent pieces and ready-to-assemble (RTA) furniture.

In 2019, the value of wood-based panels used in China's construction industry was USD 19.23 billion. This figure is expected to rise at a CAGR 9.8% over the forecast period. In the coming years, the demand for wood-based panels will be positive due to the availability of a wide variety of sizes, colors, and grades.

In terms of revenue, the demand for construction applications is expected to grow at a rate of 8% over the forecast period. The rise in construction projects in emerging countries has been attributed to a combination of rising consumer purchasing power and low interest rates. In the near future, market growth will be stimulated by increased investments in commercial space construction.

Regional Insights

Asia Pacific held the largest market share at 54.34% in 2019. It is expected to grow at a CAGR 7.9% during the forecast period. China, India, Japan and other emerging economies are expected to drive demand for the product in packaging applications and construction. China is the Asia Pacific's largest consumer and producer of wood-based panels. This is due to the country's high population growth. Due to the country's increasing industrial exports, the product demand is being supported by an increase in packaging applications.

Europe was responsible for more than 24.12% of the market share in 2019. Germany is the largest furniture market in the region, driving the regional demand. In the coming years, the growth of the furniture market in the region will also positively impact the demand for particleboard.

Market growth will be boosted by the increased R&D activity of regional players in Africa and Middle East to develop high-performance, cost-effective wood-based panels. Due to the low level of production, the distribution costs in Middle Eastern countries are higher than those in North America and Asia Pacific.

Wood-Based Panel Market Share Insights

Due to the many manufacturers, this market is extremely competitive. North America and Europe are the main markets for players. Companies compete on the basis of product quality and production volume. Profit margins will be affected by increasing market competition and rising wood prices. Key players are focused on integration throughout the value chain via mergers and acquisitions, as well as joint ventures. To strengthen its North American distribution network, CanWel Building Materials Group Ltd. purchased Lignum Forest Products LLP in April 2019.

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends in each sub-segment from 2016 to 2027. Grand View Research has divided the wood-based panel market by product, region, and application.

  • Product Outlook (Volume: Thousand Cubic Meters; Revenue: USD Million, 2016-2027)

    • Medium density fiberboard (MDF).

    • High density fiberboard (HDF).

    • Particleboard

    • Oriented Strand Board

    • Softboard

    • Hardboard

    • Plywood

  • Application Outlook (Volume: Thousand Cubic Meters; Revenue: USD Million, 2016-2027)

    • Furniture

    • Construction

    • Packaging

  • Regional Outlook (Volume: Thousand Cubic Meters; Revenue, USD Million; 2016-2027)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Spain

      • Italy

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

      • Singapore

      • Australia

      • Malaysia

      • Thailand

      • Indonesia

      • Vietnam

      • Philippines

      • Pakistan

      • Taiwan

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • Qatar

      • UAE

      • Kuwait

      • Oman

      • Iran

      • Israel

      • Algeria

      • Egypt

      • Lebanon

These are the most frequently asked questions about this report

b. Global wood-based panels market was valued at USD 144.67 Billion in 2019, and is forecast to grow to USD 148.6 Billion by 2020.

b. The global wood-based panels market will grow at 6.1% compounded annual growth rates between 2020 and 2027 to reach USD 247.23 trillion in 2027

b. With a market share of 54.4%, Asia Pacific was the dominant region in wood-based panels. China, India and Japan are expected to drive demand for the product in packaging applications and construction.

b. Dongwha Malaysia Holdings Sdn are some of the key players in the wood-based panels market. Bhd., Kronospan Limited and Klenk Holz GmbH are some of the key players in the wood based panels market.

b. The market for wood-based panels is growing due to its low production cost and superior properties, including strength and endurance.

Up Market Research published a new report titled “Wood Based Panel Market research report which is segmented by Product (Particleboard, OSB, Plywood, MDF, Hardboard, HDF), by Application (Construction, Furniture), By Players/Companies SGS Industrial Services, Dongwha Malaysia Holdings Sdn BhdKlenk Holz GmbH, Kronospan Limited”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleWood Based Panel Market Research Report
By ProductParticleboard, OSB, Plywood, MDF, Hardboard, HDF
By ApplicationConstruction, Furniture
By CompaniesSGS Industrial Services, Dongwha Malaysia Holdings Sdn BhdKlenk Holz GmbH, Kronospan Limited
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages245
Number of Tables & Figures172
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Wood Based Panel Industry Outlook

Global Wood Based Panel Market Report Segments:

The market is segmented by Product (Particleboard, OSB, Plywood, MDF, Hardboard, HDF), by Application (Construction, Furniture).

Wood Based Panel Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Wood Based Panel Market

Overview of the regional outlook of the Wood Based Panel Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Wood Based Panel Market Overview

Highlights of The Wood Based Panel Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Wood Based Panel Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Product:

                1. Particleboard

                2. OSB

                3. Plywood

                4. MDF

                5. Hardboard

                6. HDF

        7. By Application:

                1. Construction

                2. Furniture

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Wood Based Panel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Wood Based Panel Market Trends

Reasons to Purchase the Wood Based Panel Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Wood Based Panel Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Wood Based Panel Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Wood Based Panel Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Wood Based Panel Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Wood Based Panel Market Size & Forecast, 2018-2028 
      4.5.1 Wood Based Panel Market Size and Y-o-Y Growth 
      4.5.2 Wood Based Panel Market Absolute $ Opportunity 


Chapter 5 Global Wood Based Panel Market Analysis and Forecast by Product
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Product
      5.1.2 Basis Point Share (BPS) Analysis by Product
      5.1.3 Absolute $ Opportunity Assessment by Product
   5.2 Wood Based Panel Market Size Forecast by Product
      5.2.1 Particleboard
      5.2.2 OSB
      5.2.3 Plywood
      5.2.4 MDF
      5.2.5 Hardboard
      5.2.6 HDF
   5.3 Market Attractiveness Analysis by Product

Chapter 6 Global Wood Based Panel Market Analysis and Forecast by Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Application
      6.1.2 Basis Point Share (BPS) Analysis by Application
      6.1.3 Absolute $ Opportunity Assessment by Application
   6.2 Wood Based Panel Market Size Forecast by Application
      6.2.1 Construction
      6.2.2 Furniture
   6.3 Market Attractiveness Analysis by Application

Chapter 7 Global Wood Based Panel Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Wood Based Panel Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Wood Based Panel Analysis and Forecast
   9.1 Introduction
   9.2 North America Wood Based Panel Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Wood Based Panel Market Size Forecast by Product
      9.6.1 Particleboard
      9.6.2 OSB
      9.6.3 Plywood
      9.6.4 MDF
      9.6.5 Hardboard
      9.6.6 HDF
   9.7 Basis Point Share (BPS) Analysis by Product 
   9.8 Absolute $ Opportunity Assessment by Product 
   9.9 Market Attractiveness Analysis by Product
   9.10 North America Wood Based Panel Market Size Forecast by Application
      9.10.1 Construction
      9.10.2 Furniture
   9.11 Basis Point Share (BPS) Analysis by Application 
   9.12 Absolute $ Opportunity Assessment by Application 
   9.13 Market Attractiveness Analysis by Application

Chapter 10 Europe Wood Based Panel Analysis and Forecast
   10.1 Introduction
   10.2 Europe Wood Based Panel Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Wood Based Panel Market Size Forecast by Product
      10.6.1 Particleboard
      10.6.2 OSB
      10.6.3 Plywood
      10.6.4 MDF
      10.6.5 Hardboard
      10.6.6 HDF
   10.7 Basis Point Share (BPS) Analysis by Product 
   10.8 Absolute $ Opportunity Assessment by Product 
   10.9 Market Attractiveness Analysis by Product
   10.10 Europe Wood Based Panel Market Size Forecast by Application
      10.10.1 Construction
      10.10.2 Furniture
   10.11 Basis Point Share (BPS) Analysis by Application 
   10.12 Absolute $ Opportunity Assessment by Application 
   10.13 Market Attractiveness Analysis by Application

Chapter 11 Asia Pacific Wood Based Panel Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Wood Based Panel Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Wood Based Panel Market Size Forecast by Product
      11.6.1 Particleboard
      11.6.2 OSB
      11.6.3 Plywood
      11.6.4 MDF
      11.6.5 Hardboard
      11.6.6 HDF
   11.7 Basis Point Share (BPS) Analysis by Product 
   11.8 Absolute $ Opportunity Assessment by Product 
   11.9 Market Attractiveness Analysis by Product
   11.10 Asia Pacific Wood Based Panel Market Size Forecast by Application
      11.10.1 Construction
      11.10.2 Furniture
   11.11 Basis Point Share (BPS) Analysis by Application 
   11.12 Absolute $ Opportunity Assessment by Application 
   11.13 Market Attractiveness Analysis by Application

Chapter 12 Latin America Wood Based Panel Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Wood Based Panel Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Wood Based Panel Market Size Forecast by Product
      12.6.1 Particleboard
      12.6.2 OSB
      12.6.3 Plywood
      12.6.4 MDF
      12.6.5 Hardboard
      12.6.6 HDF
   12.7 Basis Point Share (BPS) Analysis by Product 
   12.8 Absolute $ Opportunity Assessment by Product 
   12.9 Market Attractiveness Analysis by Product
   12.10 Latin America Wood Based Panel Market Size Forecast by Application
      12.10.1 Construction
      12.10.2 Furniture
   12.11 Basis Point Share (BPS) Analysis by Application 
   12.12 Absolute $ Opportunity Assessment by Application 
   12.13 Market Attractiveness Analysis by Application

Chapter 13 Middle East & Africa (MEA) Wood Based Panel Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Wood Based Panel Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Wood Based Panel Market Size Forecast by Product
      13.6.1 Particleboard
      13.6.2 OSB
      13.6.3 Plywood
      13.6.4 MDF
      13.6.5 Hardboard
      13.6.6 HDF
   13.7 Basis Point Share (BPS) Analysis by Product 
   13.8 Absolute $ Opportunity Assessment by Product 
   13.9 Market Attractiveness Analysis by Product
   13.10 Middle East & Africa (MEA) Wood Based Panel Market Size Forecast by Application
      13.10.1 Construction
      13.10.2 Furniture
   13.11 Basis Point Share (BPS) Analysis by Application 
   13.12 Absolute $ Opportunity Assessment by Application 
   13.13 Market Attractiveness Analysis by Application

Chapter 14 Competition Landscape 
   14.1 Wood Based Panel Market: Competitive Dashboard
   14.2 Global Wood Based Panel Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 SGS Industrial Services
      14.3.2 Dongwha Malaysia Holdings Sdn BhdKlenk Holz GmbH
      14.3.3 Kronospan Limited
Segments Covered in the Report
The global Wood Based Panel market has been segmented based on

By Product
  • Particleboard
  • OSB
  • Plywood
  • MDF
  • Hardboard
  • HDF
By Application
  • Construction
  • Furniture
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • SGS Industrial Services
  • Dongwha Malaysia Holdings Sdn BhdKlenk Holz GmbH
  • Kronospan Limited

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