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
Dates Announced For Ninth PELICE
The next Panel & Engineered Lumber International Conference & Expo (PELICE) will be held March 14-15, 2024, again at the Omni Hotel in Atlanta, Georgia. PELICE is hosted every other year by Panel World magazine and Georgia Research Institute. This will be the ninth PELICE since its inception 2008…
Panel World Gears Up To Exhibit At Ligna
Panel World magazine and its affiliates will be exhibiting at the upcoming international wood products fair, Ligna, to be held May 15-19 in Hannover, Germany. In addition to Panel World, the Hatton-Brown organization, which dates back to 1948 in Montgomery, Ala., today publishes five business magazines geared to the wood products industry…
LP To Acquire Ontario OSB Facility
LP Building Solutions (LP) and Forex Inc. have entered into a definitive agreement for LP to acquire the assets owned by Wawa OSB Inc., a subsidiary of Forex Inc. The manufacturing facility in Wawa, Ontario will be converted into an LP SmartSide trim and siding mill. The transaction, which is subject to court approval and customary closing conditions, is expected to be completed in early May 2023…
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!