Global Wood Based Panel Market to Become Worth US$ 3,29,956.7 Million by 2021 and is Projected to Register a CAGR of 7.2% by 2026 - MarketResearch.biz

NEW YORK, October 10, 2018 /PRNewswire/ --

MarketResearch.biz announces publication of its most recently generated research report titled, "Global Wood Based Panel Market by Type (Waferboard and OSB, Particleboard, Medium Density Fiberboard, Hardwood, Softwood and Plywood, and Other Boards), By End Use (Furniture, Construction, Door, and Others), and Region - Global Forecast to 2026.", which offers a holistic view of the wood based panel market through systematic segmentation that covers every aspect of the target market. 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.

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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.

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Global Wood Based Panel Market: Market Dynamics  

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.

However, stringent government regulations regarding formaldehyde emission is key factor restraining growth of the global wood based panel market. Additionally, high cost and variabilities in raw material quality are other factors expected to limit the growth of the global wood based panel market over the forecast period.

Development of advanced technologies to meet the stringent regulations of formaldehyde emission creates a potential opportunity for players operating in global wood based panel market.

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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.

According to global wood based panel market infographics published on MarketResearch.biz, over 7.5% CAGR by type.

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.

The Global Wood Based Panel Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the Global Wood Based Panel Market for 2017-2026.

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