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Wood-based Panel Market Share, Size,Growth, Key Players,
Outlook and Forecasts to 2025 | Hexa Research
“ The global wood-based panel market is projected to witness tremendous
growth over the forecast period..”
18 Feburary 2019
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
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