Wood based Panels Market Report 2025 (Global Edition)

Global Wood based Panels Market Report 2025 Market Size Split by Product Type (Medium-Density Fiberboard (MDF)/High-density Fiberboard (HDF), Oriented Strand Board (OSB), Particleboard, Hardboard, Ply...

Wood based Panels Market Report Description

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Wood based Panels Market Insights Video

Competitive Landscape of the Wood Based Panels Market

The competitive landscape of the Wood Based Panels market is characterized by a diverse range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established manufacturers, specialized Wood Based Panels companies, and emerging start-ups aiming to disrupt the market with innovative solutions.

December 2022: EGGER completed the acquisition of a 60% stake in SAIB, an Italian manufacturer specializing in wood-based materials. This strategic move aims to enhance market penetration, bolster production capacity, and diversify the product portfolio. Such expansion paves the way for additional growth opportunities and synergies within EGGER's operations. (Source: https://www.egger.com/en/press/press-releases?country=AU#:~:text=EGGER%20acquires%2060%25%20of%20the,focus%20on%20design%20and%20sustainability. ) May 2022: Weyerhaeuser Company (NYSE: WY) disclosed its acquisition of 80,800 acres of premium timberlands situated in North and South Carolina. This transaction elevates Weyerhaeuser's ownership or management of timberlands in the Carolinas to over 900,000 acres. Furthermore, the company's operational footprint now encompasses four mills, a distribution center, and a tree nursery in the region. This strategic move fortifies Weyerhaeuser's market position and amplifies its production capabilities. (Source: https://investor.weyerhaeuser.com/2022-04-14-Weyerhaeuser-to-Acquire-Timberlands-in-North-and-South-Carolina )

Top Companies Market Share in Wood based Panels Industry: (In no particular order of Rank)

• ARAUCO
• CenturyPly
• VRG Dongwha MDF
• DEXCO
• EGGER
• Georgia-Pacific Wood Products LLC
• GREENPANEL INDUSTRIES LIMITED
• Kastamonu Entegre
• Kronoplus Limited
• Langboard Inc.
• Louisiana-Pacific Corporation
• Pfleiderer
• Roseburg Forest Products
• SWISS KRONO Group
• West Fraser
• Weverhaeuser Company
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Wood Based Panels Market

Which Region Dominates the Wood Based Panels Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue. North America, particularly the United States and Canada, boasts a robust construction industry and a thriving housing sector. In April, privately-owned housing completions were at a seasonally adjusted annual rate of 1,623,000, marking an 8.6 percent increase from the revised March estimate of 1,495,000 and a 14.6 percent increase from April 2023. Additionally, U.S. home prices in April 2024 saw a 6.1% year-over-year increase, with a median price of $432,903. The number of homes sold also rose by 7.7% compared to the previous year, with 448,339 homes sold in April this year compared to 416,230 homes sold in April last year. The demand for wood-based panels remains consistently high in both residential and commercial construction projects, encompassing new builds, renovations, and remodeling activities. This sustained demand for wood-based panels, utilized in applications such as flooring, roofing, wall sheathing, and interior fittings, contributes significantly to the dominance of the North American market.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the Wood Based Panels market due to several compelling reasons. ? Asia-Pacific is witnessing unprecedented levels of urbanization and construction activity, particularly in emerging economies like China, India, and Southeast Asian nations. India's construction industry is projected to reach $1.4 trillion by 2025. By 2030, it's anticipated that over 40% of the Indian population will reside in urban areas, compared to the current 35%, leading to a demand for 25 million additional affordable housing units. This rapid urbanization, coupled with population growth and infrastructure projects, is driving the need for wood-based panels in residential, commercial, and industrial construction sectors across the region. Consequently, Asia-Pacific holds a substantial share of global wood-based panel consumption, solidifying its dominance in the market.

 

The current report Scope analyzes Wood based Panels Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Wood based Panels Market Analysis

According to Cognitive Market Research, the global Wood Based Panels market size was estimated at USD 198541.6 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 79416.6 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Wood Based Panels market with a market size of USD 62659.7 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. The demand is amplified by the nation's stringent environmental regulations and sustainability initiatives governing forestry practices, wood processing, and product certification.
• The Canada Wood Based Panels market had a market share of USD 9530.0 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Canada's residential and commercial construction projects, including new builds, renovations, and remodeling activities to increased usage of Wood Based Panels.
• The Mexico Wood Based Panels market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 7226.9 million in 2024.

Europe Wood based Panels Market Analysis

According to Cognitive Market Research, the global Wood Based Panels market size was estimated at USD 198541.6 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 59562.4 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

• The United Kingdom Wood Based Panels market had a market share of USD 10006.5 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. In the UK, Wood Based panel sales witnessed an upswing due to the nation's shift from office workspaces to house settings has increased the demand for more functional and flexible home furniture.
• The France Wood Based Panels market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 5479.7 million in 2024.
• According to Cognitive Market Research, the German Wood Based Panels market size was valued at USD 11793.3 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period. In Germany, Wood Based Panels sales surged due to the balanced import and export procedures of wood panels among the countries.
• The Italy Wood Based Panels market is projected to witness growth at a CAGR of 5.9% during the forecast period, with a market size of USD 5122.3 million in 2024.
• The Russia Wood Based Panels market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 9232.1 million in 2024.
• The Spain Wood Based Panels market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 4884.1 million in 2024
• The Luxembourg Wood Based Panels market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 1846.4 million in 2024.
• The Portugal Wood Based Panels market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 1250.8 million in 2024.
• The Greece Wood Based Panels market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 714.7 million in 2024.
• Rest of Europe's Wood Based Panels market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 9232.1 million in 2024.

Asia Pacific Wood based Panels Market Analysis

According to Cognitive Market Research, the global Wood Based Panels market size was estimated at USD 198541.6 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 45664.5 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031

• According to Cognitive Market Research, the China Wood Based Panels market size was valued at USD 20549.0 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period. Wood Based Panels sales surge in China due to the unprecedented levels of urbanization and construction activity.
• The Japan Wood Based Panels market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 6301.7 million in 2024.
• The India Wood Based Panels market had a market share of USD 5479.7 million in 2024 and is projected to grow at a CAGR of 11.8% during the forecast period. India is the 5th largest producer and 4th largest consumer of furniture globally, supporting the demand for various wood-based panels.
• The South Korean Wood Based Panels market is projected to witness growth at a CAGR of 9.1% during the forecast period, with a market size of USD 4566.4 million in 2024.
• The Australia Wood Based Panels market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 2374.5 million in 2024.
• The South East Asia Wood Based Panels market is projected to witness growth at a CAGR of 11.0% during the forecast period, with a market size of USD 3150.8 million in 2024.
• The Rest of the Asia Pacific Wood Based Panels market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 3242.1 million in 2024.

South America Wood based Panels Market Analysis

According to Cognitive Market Research, the global Wood Based Panels market size was estimated at USD 198541.6 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 9927.0 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Wood Based Panels market size was valued at USD 4248.7 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period. Wood Based Panels sales flourish in Brazil due to the Growing Construction Industry.
• Argentina Wood Based Panels market had a market share of USD 1667.7 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. Argentina's rise in investments and initiatives towards construction activities for both commercial and residential usage, driving the market.
• Colombia Wood Based Panels market is projected to witness growth at a CAGR of 7.2% during the forecast period with a market size of USD 883.5 million in 2024.
• Peru Wood Based Panels market is projected to witness growth at a CAGR of 7.6% during the forecast period with a market size of USD 814.0 million in 2024.
• Chile Wood Based Panels market is projected to witness growth at a CAGR of 7.7% during the forecast period with a market size of USD 714.7 million in 2024.
• The Rest of the Latin America Wood Based Panels market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 1598.2 million in 2024.

Middle East Wood based Panels Market Analysis

According to Cognitive Market Research, the global Wood Based Panels market size was estimated at USD 198541.6 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 3970.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031

• The GCC Countries Wood Based Panels market is projected to witness growth at a CAGR of 8.5% during the forecast period with a market size of USD 1699.5 million in 2024. Wood Based Panels sales flourish due to the growing Renovation and Reconstruction Projects.
• The Egypt Wood Based Panels market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 416.9 million in 2024.
• The South Africa Wood Based Panels market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 627.3 million in 2024. Wood Based Panels sales flourish in South Africa due to the green building projects and eco-friendly construction initiatives in the region.
• The Turkey Wood Based Panels market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 341.4 million in 2024.
• The Nigeria Wood Based Panels market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 416.9 million in 2024.
• The Rest of MEA Wood Based Panels market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 468.5 million in 2024.

Wood based Panels Market Analysis

Wood Based Panels Market Product Type Segment Analysis

According to Cognitive Market Research, Particleboard stands out as the dominating type. Particleboard, denser and more uniform compared to traditional wood products like plywood, is anticipated to experience increased demand throughout the forecast period. Available in various grades, particleboards are highly sought after for diverse applications including furniture, flooring, roofing, and insulation.

Plywood emerges as the fastest-growing type in the Wood Based Panels market. Plywood, crafted by bonding multiple thin layers of veneer, is expected to propel the wood-based panel market forward due to its superior properties. These include high strength, durability, and resistance to impact, chemicals, fire, and moisture, making it a preferred choice for various applications.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Wood based Panels Industry. Request a Free Sample PDF!

Wood Based Panels Market Application Segment Analysis

According to Cognitive Market Research, the dominating application is Packaging. The robust impact resistance and strength of wood-based panels render them a prime choice for packaging, especially for long-distance shipping. Anticipated growth in the market is primarily attributed to the increased utilization of wood-based panels as eco-friendly packaging alternatives, replacing non-recyclable materials like plastics. Additionally, the rising inclination towards timeless furniture designs in bedrooms and living spaces is expected to bolster product demand in the coming years. Moreover, the burgeoning demand for small accent pieces and Ready-to-Assemble (RTA) furniture is poised to fuel future growth.

The fastest-growing application in the Wood Based Panels market is Construction. Globally, there is a notable focus on infrastructure expansion across various sectors, encompassing residential, commercial, industrial, and institutional developments. Wood-based panels are widely employed in construction tasks such as flooring, roofing, wall sheathing, partitions, doors, and windows. With a surge in construction endeavors propelled by factors like population expansion, urbanization, and economic progress, the demand for wood-based panels experiences a corresponding increase.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals 
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion