AUSTIN, Texas , Sept. 27, 2022 /PRNewswire/ -- Data Bridge Market research has newly released expansive study titled 'Global Wood Based Panel Market' guarantees you will remain better informed than your competition. This study provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. The most up to date market insights and analysis performed in this wood based panel report brings marketplace clearly into focus. Nowadays, businesses get highly benefited with the different segments covered in the market research report which provides better market insights to them with which they can drive the business into right direction. Under market segmentation, research and analysis is done based on application, vertical, deployment model, end user, and geography. Depending on client's demand, huge amount of business, product and market related information has been brought together via this report that eventually helps businesses create better strategies.
Data Bridge Market Research analyses that the wood based panel market is expected to reach the value of USD 165,867.40 million by the year 2029, at a CAGR of 3.5% during the forecast period. 'Floor' accounts for the most prominent application segment in the respective market owing to the rise in wood based panels. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Wood based panel is a common term for an array of different board products with a good range of engineering properties. While some panel types are relatively new on the market, others have been developed and successfully introduced more than a hundred years ago. However, panel types with a long history of continuous optimization are still a long way from being fully developed and may always have a chance for improvement. Technological developments, on the one hand, and new market and regulative requirements, along with a steadily changing raw material situation, drive continuous improvements of wood-based panels and their manufacturing processes
The wood based panel are widely used for ceiling, cladding, roofing, flooring, and furniture applications due to their strength and durability. The rising demand for wood-based products from end-use industries is accelerating the growth of the market across the globe. The adaptation of these technologies to the wood-based panels industry has been stimulated by the requirement to improve product quality and reduce manufacturing costs simultaneously, or, rather, to secure the competitiveness of wood based panel producers. Consequently, the growing demand for wood based panels is likely to drive the market growth in the projected period.
In November 2020 , West Fraser acquired Norbord, creating a Diversified Global Wood Products Leader. This acquisition has increased the company's credibility in the market and thus will help the company diversify its business.
In February 2021 , Weyerhaeuser Company announced an agreement to purchase 69,200 acres of high-quality Alabama timberlands from Soterra. The company purchased these timberlands for approximately USD 149.00 million . The company will enhance its timberland operations and expand its customer base and future export opportunities.
West Fraser was founded in 1955 and is headquartered in British Columbia, Canada . It has public ownership. The company produces lumber, engineered wood (OSB, LVL, MDF, plywood, particleboard), and other products, including pulp, newsprint, wood chips, and renewable energy. The company has business segments such as Lumber, NA EWP, Pulp & Paper, Europe EWP, and Corporate & Other, under which Lumber, NA EWP, and Europe EWP are focused business segments.
Weyerhaeuser Company was founded in 1990 and is headquartered in Washington , U.S. It has public ownership. The company is engaged in manufacturing and providing wood products for recreation, conservation, and economic development. The company has business segments such as timberlands, real estate, energy and natural resources (real estate & ENR), and wood products, under which wood products are focused business segments.
Some of the major players operating in the Wood Based Panel market are
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Critical Insights Related to the wood based panel Included in the Report:
Drivers/Opportunities Faced by the Wood Based Panel Market
The wood panel industry includes plywood sheets, engineered wood panels, MDF (Medium Density Fibre boards), furniture boards, particleboard, and decorative surface products such as laminates. A rise in consumer spending on wood based panels in the renovation of homes & furniture is expected to boost the wood based panels demand in commercial & residential buildings. Improvement and increase in building renovation activities with the adoption of wood based panels for an increase in the aesthetic is another factor driving the market's growth. Moreover, the increased construction of public buildings, grand hotels, and resorts with decorative wood panels has led to the market's growth.
The global trade in wood products is highly regionalized, with Europe , North America , and Asia . In recent years, the global trade of wood products has changed greatly with the rise in demand for wood panels and the increase in emerging markets of wood panels. In recent years, the increased production & trade of wood based panels product such as plywood, particleboard, fibreboard, oriented strand board, and lumber panels is increased due to the rise in demand from the housing market and the global increase in population.
The wood based panels are specialty products that provide advanced performance, long-term performance, and enhanced durability, less expensive to produce and use. The wood-based panels provide an array of possibilities in terms of structural and aesthetic applications. Because of its affordability, superior performance, and flexibility in design, construction, and renovation, the use of wood-based panels is increasing in residential constructions. Wood-frame construction has improved dramatically with faster construction, better utilization of fiber, less waste, and better quality control. New technological advances in EWPs and connections are positioning the wood products industry to compete successfully in constructing much larger and more complex structures.
The construction industry has become a robust and efficient manufacturing sector worldwide. Across the countries, growth in demand for construction and real estate projects is driven by macro-economic and disruptive megatrends, such as increasing urbanization, expanding trade, demographic trends such as rising income levels, and technology and sustainable environments. With that, various projects have been initiated to create socially inclusive, sustainable communities, as the economic growth of any country is primarily dependent on the development of its infrastructure.
Segmentation Covered: Wood Based Panel Market
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Wood Based Panel Market Regional Analysis/Insights:
The countries covered in the global wood based panel market report are the U.S., Canada , Mexico , Germany , U.K., Italy , France , Spain , Russia , Turkey , Switzerland , Belgium , Netherlands , Rest of Europe , Japan , China , South Korea , India , Singapore , Thailand , Indonesia , Hong Kong , Malaysia , Philippines , Australia & New Zealand , Taiwan and Rest of Asia-Pacific , Brazil , Argentina , Rest of South America , South Africa , Egypt , Saudi Arabia , United Arab Emirates , Israel , and Rest of Middle East and Africa .
Asia-Pacific dominates the market due to a rise in consumer spending on wood based panels in the renovation of homes and furniture in the region. The rise in investments and initiatives towards construction activities for both commercial and residential is propelling the region's demand for wood-based panels.
Restraints Faced by the Wood Based Panel Market:
The wood-based panels cover the production of various products. While the production flow differs from product to product, there are some common features in terms of the key environmental issues. Emissions of dust, organic compounds, and formaldehyde are the main rising concerns while manufacturing wood panel products. Fine particulate matter emissions contribute to dust emissions from wood-based panel production, where particles below 3 µm can constitute up to 50 % of the total dust measured due to dust emissions from wood-based panels' manufacturing, causing health and environmental problems, which is high on the environmental policy agenda.
Fluctuation in the raw materials price will affect the production cost of the wood based panel's products. The change in the production cost will change the revenue for the manufacturers. Wood pulp is taken from the trees, but due to the more demand in the different regions, import and export of the wood pulp are done within the specified quantity. The raw material is available in different quality and at different rates, due to which wood-based production is very difficult for the manufacturers. Highly fluctuating raw materials costs and ineffective price management can greatly endanger a manufacturer in the market. Due to the raw material price fluctuation, the manufacturers can now fix the product cost, resulting in a loss for manufacturers.
The supply chain ecosystem has become increasingly volatile due to a shortage of factors such as high product costs, transportation costs, etc. Wood product manufacturers are facing many challenges due to the high variability of raw materials. Each processing step in manufacturing impacts material utilization and cost efficiency, which is the reason for the higher material cost. The most common challenge for the wood products manufacturer is to make a profit and execute the manufacturing process at low cost but with high-cost variable raw material.
Wood Based Panel Key Benefits over Global Competitors:
Part 02: Scope Of The Report
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Asia-Pacific Wood Based Panel Market By Product (Plywood, Fiberboard, Oriented Strand Board, Cement-Bonded Particleboard, Lumber Panels, T-Beam Panels, Stress-Skin Panels, and Others), Thickness (9 MM, 10 MM, 18 MM, 20 MM, 40 MM, 50 MM, and Others), Distribution Channel (B2B, OEMS, Specialty Stores, E-Commerce, and Others), Application (Outdoor Door, Window Trim, Ceiling Wall, Mantel, Floor, and Others), End-User (Residential Building, Commercial Building, Hotels, Vila , Hospitals, School, Malls, and Others) – Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/asia-pacific-wood-based-panel-market
Middle East and Africa Wood Based Panel Market By Product (Plywood, Fiberboard, Oriented Strand Board, Cement-Bonded Particleboard, Lumber Panels, T-Beam Panels, Stress-Skin Panels, and Others), Thickness (9 MM, 10 MM, 18 MM, 20 MM, 40 MM, 50 MM, and Others), Distribution Channel (B2B, OEMS, Specialty Stores, E-Commerce, and Others), Application (Outdoor Door, Window Trim, Ceiling Wall, Mantel, Floor, and Others), End-User (Residential Building, Commercial Building, Hotels, Vila , Hospitals, School, Malls, and Others) – Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/middle-east-and-africa-wood-based-panel-market
Europe Wood Based Panel Market By Product (Plywood, Fiberboard, Oriented Strand Board, Cement-Bonded Particleboard, Lumber Panels, T-Beam Panels, Stress-Skin Panels, and Others), Thickness (9 MM, 10 MM, 18 MM, 20 MM, 40 MM, 50 MM, and Others), Distribution Channel (B2B, OEMS, Specialty Stores, E-Commerce, and Others), Application (Outdoor Door, Window Trim, Ceiling Wall, Mantel, Floor, and Others), End-User (Residential Building, Commercial Building, Hotels, Vila , Hospitals, School, Malls, and Others) – Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/europe-wood-based-panel-market
North America Wood Based Panel Market By Product (Plywood, Fiberboard, Oriented Strand Board, Cement-Bonded Particleboard, Lumber Panels, T-Beam Panels, Stress-Skin Panels, and Others), Thickness (9 MM, 10 MM, 18 MM, 20 MM, 40 MM, 50 MM, and Others), Distribution Channel (B2B, OEMS, Specialty Stores, E-Commerce, and Others), Application (Outdoor Door, Window Trim, Ceiling Wall, Mantel, Floor, and Others), End-User (Residential Building, Commercial Building, Hotels, Vila , Hospitals, School, Malls, and Others) – Industry Trends and Forecast https://www.databridgemarketresearch.com/reports/north-america-wood-based-panel-market
Wood Adhesives Market, By Product (Urea-Formaldehyde, Melamine Urea-Formaldehyde, Phenol-Formaldehyde, Isocyanate, Polyurethane, Polyvinyl Acetate, Soy-Based Wood Adhesive), Resin Type (Natural, Synthetic), Technology (Solvent- Based, Water- Based, Solventless), Application (Flooring and Desks, Plywood, Furniture, Cabinet, Particle Board, Windows and Doors), Country https://www.databridgemarketresearch.com/reports/global-wood-adhesives-market
Wood Coating Resins Market, By Resin Type (Epoxy Resin, Amino Resin, Alkyd Resin, Polyurethane Resin, Unsaturated Polyester Resin, Saturated Polyester Resin, Acrylic Resin, Vinyl Resin, Other Resins), Technology (Solvent-Borne Coatings, Powder Coatings, Waterborne Coatings, High Solids Coatings, Radiation Curable Coatings, Others), Application (Automotive Coatings, Marine & Protective Coatings, Architectural Coatings, General Industrial Coatings, Packaging Coatings, Wood Coatings, Others) Country https://www.databridgemarketresearch.com/reports/global-wood-coating-resins-market
Wood Preservative Market, By Formulation (Water Based, Solvent Based, Oil-Based), Application (Residential, Commercial, Industrial), Country https://www.databridgemarketresearch.com/reports/global-wood-preservative-market
Wood and Laminate Flooring Market, By Product (Wood Flooring, Laminate Flooring), Application (Residential, Commercial, Industrial), Type (Deck Flooring, Solid Wood Flooring, Engineered Flooring), Country https://www.databridgemarketresearch.com/reports/global-wood-and-laminate-flooring-market
Wood Chips Market, By Product Type (Softwood, Hardwood and Manual), Variety Type (Forest Chips, Recycled Chips, Wood Residue Chips and Sawing Residue Chips), Raw Material (Pulp Wood and Residue Wood), Application (Combined Heat and Power (CHP), Household Furnishing, Residential Heating, Playground Surfacing, Barbecue, Mulch, Bio Reactors and Fuel) https://www.databridgemarketresearch.com/reports/global-wood-chips-market
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