Global Wood-Based Panel Market To Reach $174 Billion By 2025

by | 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.

From Trade Arabia: tradearabia.com.

 

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Higher Prices Seen In Hardwood Lumber, Panel Trends

by | Jun 11, 2018 | News

Hardwood manufacturers are looking at positive growth continuing in 2018, but they need to expect rising prices for both hardwood lumber and panel products.

According to a report from Forecon Inc., “Lumber prices for our major (by value) species have all shown heavy demand, and most have seen a consistent upward trend in price throughout 2017 and certainly coming into 2018.” Forecon Inc. is one of the oldest established professional forestry consulting firms operating in the hardwood regions of the Eastern United States.

Forecon is reporting high demand for ash lumber in the face of concerns about the emerald ash borer damaging ash timber resources. Another hardwood on the rise is black cherry, which is seeing higher demand, especially from export markets, particularly from China and other Asian countries. But there is also elevated demand in the domestic market.

There is continuing strong demand for hard maple, especially green lumber (not kiln-dried), and reports are that there has been a specific increase in demand from cabinet manufacturers. This is another case where strong export demand, especially in Asia, continues to boost the price. Soft maple is not in as much demand as hard maple, with prices actually dropping a bit in the first half of this year.

One of the steadiest and strongest species of all continues to be red oak, which has set record export levels in volume and dollars this past year, and both international and domestic are staying strong in 2018. Forecon predicts sustained high prices for oak, keeping prices high and possibly climbing even higher into the summer months.

Read more on this from Woodworking Network at https://www.woodworkingnetwork.com/news/woodworking-industry-news/higher-prices-seen-hardwood-trends.

Idaho Grant Helps College Train Woodworkers, Address Skill Gaps

by | Apr 24, 2017 | News

North Idaho College has been awarded a $482,582 grant by the Idaho Department of Labor to train more than 200 workers in the wood products manufacturing industry.

The two-year grant is a partnership with Lewis-Clark State College and five wood products manufacturing companies in North Idaho. The positions will pay wages ranging from $15 to $25 per hour plus employer-assisted medical benefits.

“This grant will go a long way in training the next generation of wood products manufacturing workers,” said NIC President Rick MacLennan. “These are solid, high-paying jobs and an outstanding opportunity for more than 200 people in North Idaho. We’re grateful for the Idaho Department of Labor’s foresight and the hard work put in by many people to make this grant a reality.”

The funds will be used to address skill gaps for high-wage, high-demand occupations in the forest products industry and increase the employment and wages of Idaho workers in mostly rural areas. The project also supports the Apprenticeship Idaho program, which expands innovative apprenticeships into high-growth occupations and industries. Idaho Forest Group, Potlatch Land and Lumber LLC, Stimson Lumber Co., Empire Lumber Co. and Plummer Forest Products (a total of 11 mills) are the five business partners in the grant. A match is required from industry partners, who gave a total of $141,834.61 in cash and in-kind donations.

The North Idaho College Wood Products Center of Excellence will provide training along with structured on-site training at the mills.

From Woodworking Network: https://www.woodworkingnetwork.com/news/woodworking-industry-news/grant-helps-college-train-200-woodworkers-addresses-skill-gap?ss=news,news,woodworking_industry_news,news,almanac_market_data,news,canadian_news