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Wood Based Panel Market Size

Report ID: GMI6553
Published Date: Aug 2023
Report Format: PDF

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Wood Based Panel Market Size

Wood Based Panel Market size was valued at around USD 194.5 billion in 2022 and is estimated to reach USD 330.3 billion by 2032. The construction sector's expansion drives demand for wood-based panels in applications like roofing, flooring, wall panels, and structural elements due to their affordability and versatility.

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Housing demand, housing starts, and real estate developments significantly influence the demand for wood-based panels as they are essential components in residential construction. Rapid urbanization, infrastructure development, and commercial construction projects drive the need for wood-based panels in building interiors, commercial spaces, and public facilities.

Wood Based Panel Market Report Attributes
Report Attribute	Details
Base Year:	2022
Wood Based Panel Market Size in 2022:	USD 194.5 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5.4%
2032 Value Projection:	USD 330.3 Billion
Historical Data for:	2018 to 2022
No. of Pages:	120
Tables, Charts & Figures:	137
Segments covered:	Product, End-use, Region
Growth Drivers:	Construction industry progression Growing housing market trends Rapid urbanisation
Pitfalls & Challenges:	Raw Material Availability and Sustainability Fluctuating Raw Material Costs Environmental Regulations and Compliance

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Overreliance on timber resources can lead to deforestation and environmental degradation. Changes in timber prices and availability can impact production costs and profitability for wood-based panel manufacturers. Stringent environmental regulations related to emissions, formaldehyde content, and waste disposal can increase manufacturing costs and require constant monitoring and compliance efforts.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Global market value for wood based panel was around USD 194.5 billion in 2022 and will reach USD 330.3 billion by the end of 2032.

Plywood segment share was USD 42.7 billion in 2022 and is expected to witness substantial growth through 2032 due to the plywood's strength, versatility, and structural integrity that make it a preferred choice for applications such as roofing, flooring, and wall sheathing.

U.S. market size was USD 40.2 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032 due to the expansion of commercial spaces, office buildings, retail centers, and other commercial properties.

Georgia-Pacific LLC (Koch Industries), West Fraser Timber Co. Ltd., Weyerhaeuser Company, Norbord Inc., Arauco, Louisiana-Pacific Corporation (LP), EGGER Group, Kronospan, U.S. Lumber Group LLC, Swiss Krono Group, Roseburg Forest Products, Ainsworth Lumber Co. Ltd., Panels & Furniture Group (PFM Group), Boise Cascade Company, Pfleiderer Group S.A. among others.