Global Wood Based Panel Market to reach USD 174.55 billion by 2025 | CAGR: 7.7%
Global Wood Based Panel Market is valued at USD 91.05 billion in 2016 is anticipated to grow USD 174.55 billion with the compounded annual growth of 7.7% over the forecast period 2017-2025.
New York 31 May 2018, as per the new research study conducted by Bizwit Research & Consulting, Global Wood Based Panel industry is poised to raise USD 174.55 billion by 2025. Minimal effort of the item combined with prevalent properties, for example, high quality and solidness are bringing about its appeal from the development segment for divider cladding, roof, material, and ground surface applications.
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The industry seems to be fairly competitive. Some of the leading market players include ante-group, ARAUCO, Canfor, Georgia-pacific, Idaho forest group LLC., Interfor corporation, KLAUSNER-GROUP, and so on. Other market players discussed in the report include kronospan limited, Weyerhaeuser, sodra, Stora enso, timber products company, Tolko industries Ltd., Hampton affiliates. New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The demand for wood panels is increasing, owing to high investments in residential and commercial construction, across developing economies of the world including China, India, Brazil, and Saudi Arabia.
- Innovations in the traditional woodworking industry to produce more sustainable products, such as MDF, particleboard, are also increasing the market the growth.
- The Asia Pacific held the largest market share of 58.4% in 2016 and is expected to dominate the industry over the forecast period on account of high investments in the construction sector in the region.
Bizwit Research & Consulting LLP has considered the following segments for the study:
- North America
- Asia Pacific
- Latin America
- Rest of the World