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Fiberboard (MDF) and particleboard panels, which can be attributed to increasing demand for high -quality
furniture.
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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.
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.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/green-building-
materials-industry
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