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
CPA: Quick Guide To The EPA Formaldehyde Regulation
If you manufacture finished goods that contain particleboard, medium density fiberboard (MDF) or hardwood plywood (HWPW), then you likely have been preparing to comply with the Environmental Protection Agency’s (EPA’s) Formaldehyde Emissions Standards for Composite…
Katerra Receives $865 Million To Fund Massive CLT Plant
Katerra, a high-tech construction firm, has secured $865 million in funding from SoftBank Vision Fund. That money will go toward ongoing projects in the U.S., like the company’s planned cross-laminated timber plant in Washington, as…
CLT Panel Fails During OSU Construction Project
From: Panel World Editors Officials with Oregon State University are investigating a construction incident when a CLT panel failed in mid March at a campus building project. A 4×20 ft. panel, part of the sub…
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!