New York City, NY: Jun 19, 2019 – Published via (Wired Release) – Wood based panel is made of single piece or variety of pieces which are joint together. Key players operating in the market manufactures reconstituted wood panels such as oriented strand board, medium-density fibreboard which as cost effective, gives high productivity, flexibility, and requires minimum material and energy consumption thus creating demand for wood based panel.
The first five-year cumulative revenue (2017–2021) is projected to be US$ 3,29,956.7 Mn, which is expected to increase rather moderately over the latter part of the five-year forecast period. According to report, the wood based panel market is projected to reach a value of US$ 1,06,929.0 Mn in 2026 at a CAGR of over 7.0% over the forecast period.
Increasing use of wood based panel in various applications across the globe is expected to be a major factors driving the growth of the global wood based panel market. In addition, increasing demand for interior designing and furniture in developed and developing economies is expected to create demand for global wood based panel market over the forecast period. Furthermore, increasing demand for wood based panel in repair and renovations activities is another factor expected to contribute for the growth of the global wood based panel market over the forecast period.
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Global Wood Based Panel Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global wood based panel market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global wood based panel market is expected to expand at a moderate CAGR of over 7.0% during the forecast period.
Global Wood Based Panel Market: Segmental Snapshot
The market report has been segmented on the basis of type, end use, and region. The type segment includes waferboard and OSB, particleboard, medium density fiberboard, hardwood, softwood and plywood, and other boards. The end use segment includes furniture, construction, door, and others. The regions covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By type: The hardwood, softwood and plywood segment accounted for highest revenue share contribution as compared to other type segment, and is expected to register a CAGR of over 7.5% between 2017 and 2026 as they are cost effective and has a wide end use application.
By end use: The furniture segment is projected to account for highest revenue share as compared to that of other application segment, and register a CAGR of over 7.1% over the forecast period.
By region: The market in North America accounted for highest revenue share in the global wood based panel market in 2016, and is expected to register a CAGR of 7.0% between 2017 and 2026 owing to the presence of prominent wood based panel manufacturers in the region.
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Global Wood Based Panel Market: Competitive Analysis
The research report on the global wood based panel market includes profiles of some of major companies such as Norbord Inc., Kronospan Limited, West Fraser Timber Co. Ltd., Timber Products Company, Weyerhaeuser Company, Georgia-Pacific LLC, Bucina DDD, spol. s r.o. (Ltd.), Sonae Indústria, Freres Lumber Co., Inc., Dongwha Enterprise Co., Ltd., Kastamonu Entegre, Hampton Affiliates, Duratex, and Louisiana-Pacific Corporation.
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