Global Market for Wood Panels is Forecast to Reach 470.4 Million Cubic Meters by 2020

Recovery in Construction Activity Drives the Global Wood Panels Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Wood Panels markets. Global market for Wood Panels is forecast to reach 470.4 million cubic meters by 2020, driven by rapid urbanization, recovery in construction activity worldwide, and rising demand for eco-friendly building materials. 

Wood panels are boards made with pulverized wooden pieces such as veneers, bars, rods, fibers, chips or wood shavings that are pressed together. Used mainly in residential construction, demand for wood panels is determined by the economic prosperity and the state of the construction industry in a region. Growing population, rising income levels, and rapid urbanization are major factors set to drive demand for housing units, which in-turn will drive demand for wood panels. The current recovery in the construction activity worldwide and continued expansion in developing regions are expected to drive growth in the market. 

The market is also expected to benefit from advances in construction techniques that expand use of prefabricated wood panels in floor, walls and ceiling structures. Other factors influencing wood panel demand include growing preference for green materials and increasing pressure to demonstrate sustainable business practices. Introduction of energy efficiency building codes in several nations worldwide is expected to drive demand for wood panels, as wood-based structures are more energy efficient than concrete or steel based structures. Growing preference for engineered wood due to its numerous performance and environmental benefits is expected to spur demand for large prefabricated solid wood-based panels.

Particleboard, including Oriented Strand Board (OSB), represents the leading wood panel type. Demand for particleboard is primarily driven by innovation in OSB to improve product quality and impart advanced features such as moisture resistance. Expanding use of Oriented Strand Board in applications ranging from furniture to construction is also a factor driving growth in demand for particleboard. Backed by beneficial properties such as high strength, stiffness and water resistance, Plywood demand is benefiting largely from the rise in housing renovation, repair, and remodeling projects, and increased use in woodcrafts, and as decking material in ships. 

As stated by the new market research report on Wood Panels, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 7.7% over the analysis period. Steady economic growth, rising standard of living, urban sprawl, and growing construction of commercial and industrial buildings, represent key growth drivers in the region.

Major players covered in the report include Ainsworth Lumber Co. Ltd., Boise Cascade Company, Canfor Corporation, Duratex SA, Fletcher Building Limited, Georgia-Pacific LLC, Gascogne, J.M. Huber Corporation, Kronospan Limited, Louisiana-Pacific Corporation, Norbord Inc., Pfleiderer AG, Potlatch Corporation, West Fraser, and Weyerhaeuser NR Company, among others.

The research report titled “Wood Panels: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in terms of volume for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America) and Rest of World. Product markets analyzed in the report include Plywood, Particleboard (including Oriented Strand Board), Medium Density Fiberboard, and Other Wood Panels.