Report: Wood-Based Panel Market To Exceed $35 Billion By 2023

by | Dec 14, 2016 | News

Wood based panel market size was valued over USD 16 billion in 2015 and is anticipated to grow at CAGR of over 13% and exceed USD 35 billion by 2023.

In 2014, China wood based panel market accounted for more than 50,000 products for manufacturing and trading enterprises, employing more than 10 million workforce and generating an output of USD 155 billion. The utilization by these enterprises exceeds 520 million and the value of exports was USD 75 billion in 2014. However, the sector suffers from a poor image due to quality scandals. In 2015, Italy has recorded gain of 7%, with an optimistic business climate for the third consecutive quarter.

China exported 5.8 million tons of wood based panels which cost around USD 5,813 million in 2014, growing at a CAGR of 15% over the previous year. China trades with the U.S., where it exports around 15% of its total panel, accounting for 55% of the U.S. total imports. One of the challenges that both the North American and European panel makers are facing is the increasing imports from China.

Increasing deforestation has lead towards the global warming which has boosted the demand growth for efficient and effective utilization of timber. This is expected to fuel the industry demand over the forecast period. In addition, technological innovation and advancement along with the mounting efficiency in manufacturing is likely to bolster the demand from 2016 to 2023.

Modernization in infrastructure and rapid industrialization in developing economies of Asia Pacific is likely to be a chief industry driver for the global wood based panel market over the next few years.

From SATPRNews.com: https://satprnews.com/2016/12/13/wood-based-panel-market-size-to-exceed-usd-35-billion-by-2023-global-market-insights-inc/

North American Panel Products Analysis And Forecast To 2019

by | Jun 29, 2015 | News

Research and Markets has announced the addition of the “North America Urea Formaldehyde Resin Market by Application (Particleboard, Medium Density Fiberboard, Plywood, Molding Powder, Adhesives & Coating, Roofing Mat), by Country (U.S., Canada, Rest of North America) – Analysis & Forecast to 2019” report to their offering.

The value of the North America UFR market was $714.6 million in 2014 and is projected to grow at a CAGR of 6.6% from 2014 to 2019.

The study provides the value chain analysis with respect to UFR raw materials, manufacturers, and end-users. The value chain describes the key contributors to the materials market at different stages from product development to end use. It represents the key players who are contributing to the growth of the North America UFR market.

The impacts of different market factors, such as drivers, restraints, and opportunities are also illustrated in the report. This gives an idea about the key drivers, such as developing furniture industry, rising demand for wood-based panels, rising population, and growing infrastructure industry; and restraints, such as UFR’s toxic emission property, which has influenced major countries to put UFR under stringent regulations.

The UFR market is also classified on the basis of applications. The important applications include particleboard, MDF (Medium Density Fiberboard), plywood, molding powder, adhesives and coating, and roofing mat, among others. The particleboard segment held the largest share of the UFR market in North America, in terms of consumption.

From Business Wire: https://www.businesswire.com/news/home/20150625006183/en/Research-Markets-North-America-Urea-Formaldehyde-Resin#.VZGCNKaDrwc