Global Wood-Based Panel Market To Reach $174 Billion By 2025
The global wood-based panel market size is expected to reach $174.55 billion by 2025, registering a 7.7 percent compound annual growth rate (CAGR) during the forecast period, according to a new report by Grand View Research.
High demand as an insulating material for wall cladding, ceiling, roofing, and flooring applications is expected to boost market growth over the coming years, said the report “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”.
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 environmentally-friendly manufacturing wood-based panels.
From Trade Arabia: tradearabia.com.
Latest News
Raute PRS R5 Proving Itself
Raute introduced its Panel Repair Station (PRS) R5 the plywood industry in 2020. Soon there will be 13 units operating in North America. Measuring 33 ft. by 26 ft., the R5 is no larger than most manual repair cells. It requires no foundations, meaning it can be up and running within two weeks of delivery…
India’s Greenpanel Grows With MDF
India’s largest MDF manufacturer, Greenpanel Industries Ltd., has ordered its third MDF plant from Dieffenbacher. The new thin-board line based on Dieffenbacher’s smart plant concept, CEBRO, will be added in Routhusuramala, Andhra Pradesh. That’s the same site where Greenpanel commissioned a Dieffenbacher MDF line with a 56 m long CPS, the longest continuous press in…
Kronospan Announces Further Expansion At Alabama Site
Kronospan will begin construction of a new OSB manufacturing plant on its 460 acre site in Oxford, Ala. The new facility, employing 125, will have a footprint composed of 44 acres of new development, including substantial areas designated for product storage, rail spur and loading docks. Groundbreaking for the $350 million facility is scheduled for later this year…
Find Us On Social
Newsletter
The monthly Panel World Industry Newsletter reaches over 3,000 who represent primary panel production operations.
Subscribe/Renew
Panel World is delivered six times per year to North American and international professionals, who represent primary panel production operations. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative. Contact us today!