Wood Based Panel Market Analysis, Competitive Strategies and Forecasts, 2015 to 2025
by Susan Hill Business Consultant7
September 2018, The global Wood-Based
Panel Market is
projected to witness tremendous growth over the forecast period, driven
primarily by surge in new commercial and residential constructions in developed
as well as developing countries.
Repair
and renovation activities across the world have also had a positive impact on
the market. Stringent rules and regulations implemented on deforestation
activities has encouraged the need for efficient timber utilization, which in
turn, is driving demand for wood-based panels.
These
panels are of various types; they can be particle board, plywood (softwood and
hardwood), fiberboard (MDF and hardboard), laminated veneer lumber (LVL),
oriented strand board (OSB), block board, wafer board, and other composite
structural panels.
Asia
Pacific is a prominent market, primarily owing to rapid industrialization and
increasing infrastructural activities in the region. Demand is also triggered
by need for structural panels in the construction industry. The region is
projected to exhibit a strong CAGR during the forecast period on account of
increasing construction and infrastructural activities in countries such as
China, India, and South Korea. Thailand, Malaysia, and Indonesia, among others,
are observing rapid growth in demand for Medium Density Fiberboard (MDF) and
particleboard panels, which can be attributed to increasing demand for
high-quality furniture.
Countries
such as U.S., Netherlands, Germany, and South Korea have been leading importers
of wood-based panels, accounting for around half the global imports. China and
Indonesia, on the other hand, were leading exporters of these products.
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Increasing
application in the manufacture of sidings, flooring and decking, and windows
and doors in the construction sector is expected to impact market growth.
Moreover, rising demand for furniture such as cabinets, shelves, cupboards, and
desks is anticipated to drive this market. Wood-based panels are also used in
the packaging industry for the manufacture of boxes, crates, and containers
used in shipping and logistics.
Countries
with maximum production and consumption are China and U.S. Demand in European
countries is also projected to increase on account of favorable government
policies. The European Commission has invested significant amounts in R&D
activities to come up with processes that can ease production of wood-based
panels. Manufacturing companies in Europe are opting for vertical integrations
to establish control over their value chain.
Eastern
Europe is projected to exhibit a high CAGR on account of rising production
facilities in Russia and Turkey. Russia is expected to overtake Germany to
become the largest particleboard market in Europe.
The
European market has shown tremendous profitability on account of increased
consumption in application sectors such as construction, furniture, and packaging.
However, rising cost of inputs such as wood, resins, adhesives, and timber will
have an adverse impact on panel makers across the region as it reduces their
profit margins to a great extent.
Stringent
disposal regulations and increasing raw material prices are expected to be the
major restraining factors for the global wood-based panel market. According to
EU, plywood generates around 300 kilo tons of waste, which is disposed into
landfills every year. Plywood contains toxic resins and adhesives, which can
seep through the soil and damage the environment. Therefore, the EU aims at
reducing production of plywood and increasing production of other wood-based
panels such as OSB and MDF.
Major
product manufacturers across the world include Kronospan Worldwide,
Weyerhaeuser, Georgia Pacific, Sierra Pacific, West Fraser Timber Company
Limited, Canfor, Tolco Industries Limited, Hampton Affiliates, Resolute Forest
Products, Interfor, Timber Products Company, Shanghai Jechen Group Company,
Schweighofer, Stora Enso, Arauco, Sodra Timber, Klausner-Group, Pheifer Gruppe,
Idaho Forest Group, Ante-Halz gmbH, Rettenmeier Group, Klenk Holz AG, and Linyi
Guangsha Wood Industry Company Limited.
Noranda
Forest Inc. (Canada), which is engaged in the production of OSB, entered into
joint ventures and acquisitions to increase its production capacity, product
portfolio, and expand into emerging markets. Mergers are also a key expansion
tactic, mainly to increase market share and gain access to up and coming
markets. For instance, Kronospan Ltd. (Austria) acquired Clarion Boards Inc.
(U.S.), which manufactures MDF, high-density fiberboard, and laminated veneer
lumber. This strategy was undertaken to enter the North American market and
supplement the company’s European facilities.
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Created on Sep 7th 2018 08:51. Viewed 362 times.