by Web Editor | Jul 11, 2018 | News
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.
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by Web Editor | Aug 30, 2017 | News
Engineered wood is also known as man-made wood or composite wood, and these are quite popular in recent times due to their cost effective and ecofriendly properties. These woods are formed of composite materials manufactured by binding the strands, fibers and particles all together with the help of suitable adhesives. These engineered woods can be made by utilizing wastes such as sawmill waste, rice straw, sugarcane bagasse, wheat straw and other wood wastes thus making them cost effective and environmentally friendly. Engineered wood is mainly used as a substitute to hardwood and concrete.
In many construction building projects, the products of engineered wood are used as an alternative of steel in beams. One of the advantages offered by engineered wood products is that it can be designed as per the demand and custom specifications of the end user. The main users of engineered wood products are construction developers, architects, designers etc. Promotion of green life and regulations concerning deforestation has led the global engineered wood market to expand with a decent pace.
Government norms and regulations such as Bharat stage emission standards or European emission standards regarding CO2 emissions are driving the market for engineered wood at whole different level. Owing to the factors like cost efficiency, enhanced quality, waste reduction and environmentally friendly nature, the engineered wood market is expected to witness significant growth in the market. There are certain innovations in the technologies and machining systems have been developed in order to improve the efficiency and quality of the products which are expected to further drive growth of the market.
Although the global engineered wood market has potential opportunities in the future still the manufacturers of engineered wood products face some challenges regarding durability and fire resistant properties of engineered wood products. There are certain adhesives like Urea-formaldehyde used in the manufacturing of engineered wood products which are quite toxic. Also some products such as particleboard may not be suitable for outdoor use as they are more prone to humidity. The ongoing developments regarding advanced grading and better material selection techniques is expected to result in improved definition of timber quality and efficient performance of the products.
From LANEWS.org: https://www.lanews.org/growing-industrialization-will-influence-the-engineered-wood-market-growth-2017-2027/
by Web Editor | May 19, 2017 | News
The global plywood market is expected to expand by the end of 2017, according to Research Nester. Plywood will see increased demand from the construction of houses and other activities. Moreover, the economical price of the plywood will further drive the market.
The North American region has been consistently dominating the market globally, in terms of the market demand for plywood. This has been primarily due to high plywood consumption by the construction sector. It will be followed by North America and Europe occupying the second position in the market. Asia Pacific is anticipated to showcase robust growth in the next few years. Moreover, plywood market in Asia Pacific will further increase due to the massive growth in construction sector.
Apart from this, the countries with rich forests and woods such as India, Brazil and South Asian countries have the potential to be the key suppliers of plywood in the near future. Further, the growing indigenous demand for plywood in India as a result of rising disposable income among the growing middle and affluent class and the growing infrastructure in recent times is expected to make India an important consumer of plywood in the near future.
The growing demand for the plywood is driven by rising construction activities (both for residential and commercial purposes) and growing preferences for well-designed floors, home ceilings and walls. Robust population growth coupled with rising disposable income as well as rising preferences for branded plywood has expanded the plywood market at a global level.
From Woodworking Network: https://www.woodworkingnetwork.com/news/woodworking-industry-news/north-american-construction-drives-plywood-market-growth
by Web Editor | Feb 10, 2017 | News
A new report from market research firm Allied Market Research (AMR) projects that the global engineered wood market is estimated to reach $41.273 billion by 2022, growing at a compound annual growth rate (CAGR) of 24.8 percent from 2016 – 2022. North America and Europe, being the developed markets, account for nearly 70 percent of global engineered wood production, while still maintaining high CAGRs.
Engineered wood demand is expected to remain high during the forecast period as it is an alternative to concrete and hardwood. Engineered wood products are widely used by architects, builders, code officials, and building designers aware of energy-efficient framing practices that conserve energy, speed-up construction, cut labor cost, and reduce waste.
“The rising popularity of engineered wood over hardwood is attributable to its cost-effectiveness and eco-friendly aspect,” says AMR research analyst Yogiata Sharma. “Also, stringent regulations with regards CO2 emission and rapid deforestation are factors likely to propel the adoption of engineered wood. Despite the reservations, surrounding its usage due to safety concerns, composite wood has proved to be a huge commercial success.”
The market is expected to move at a higher pace in Europe and North America, owing to high disposable income and widespread awareness of the benefits of engineered wood among the populace. The engineered wood industry in Europe will be driven by the rise in demand for engineered timber, substantial use of resources, and increased import of raw wood from Asia-Pacific and LAMEA.
From Woodworking Network: https://www.woodworkingnetwork.com/news/almanac-market-data/engineered-wood-market-reach-413-billion-globally-2022?ss=news,news,woodworking_industry_news,news,almanac_market_data,news,canadian_news
by Web Editor | Jan 6, 2017 | News
The United States International Trade Commission says there is a “reasonable indication that a U.S. industry is materially injured by reason of imports of hardwood plywood from China that are allegedly subsidized and sold in the United States at less than fair value.”
Noting all six of its commissioners voted in favor, the U.S. Department of Commerce will continue to conduct its antidumping and countervailing duty investigations on imports of hardwood plywood. A judgment on whether countervailing duties should be levied to discourage the imports is due February 13, 2017, and its preliminary antidumping duty determination due on or about April 27, 2017.
The issue is contentious, with U.S. plywood makers – the Hardwood Plywood Coalition – battling to restrict China’s exports, while an opposing group that buys plywood for casegoods, the American Alliance for Hardwood Plywood (its members include the Kitchen Cabinet Makers Association) wants to allow imports to continue as is.
Indeed, the American Alliance for Hardwood Plywood issued a statement expressing disappointment in the ruling by the International Trade Commission. AAHP Chairman Greg Simon issued the following statement:
“We are disappointed that this investigation will proceed, but remain very confident that the facts continue to be on our side. This is now the third time that the federal government will conduct a thorough review and we believe they will reach the same finding as before–imported hardwood plywood products from China are traded fairly at competitive prices and have a rightful place in the global consumer market. This continued legal harassment by CFTHP against imports is putting thousands of U.S. jobs at risk during a time when manufacturing is in desperate need of revival. Our alliance of small medium and large American importers, distributors, retailers of hardwood plywood and domestic kitchen cabinet manufacturers remains united in opposition to these bogus charges and look forward to presenting our side to the ITC and Department of Commerce in the coming months.”
From Woodworking Network: https://www.woodworkingnetwork.com/news/woodworking-industry-news/china-hardwood-plywood-dumping-gets-third-review-international-trade?ss=news,news,woodworking_industry_news,news,almanac_market_data,news
