According to a new report from Grand View Research in San Francisco, Calif., the global wood-based panel market is expected to reach $174.55 billion by 2025, with a compound annual growth rate (CAGR) of 7.7% over the forecast period.
"2018-2025 based on products (plywood, medium density fiberboard (MDF), particle board, soft board, hard board), applications (furniture, construction, packaging) and industry forecasted wood-based panel market size, share and trend analysis report "The high demand for insulation for wall cladding, ceiling, roof and flooring applications is expected to drive market growth in the coming years."
The report shows that investment, divestiture and regional expansion are key strategies that participants have taken to strengthen their presence in the market. On the other hand, rising raw material prices and lack of technological innovation are expected to be the main concerns of the industry.
Innovations in the traditional woodworking industry produce more sustainable products such as medium density fiberboard (MDF), particleboard, OSB and HDF, which can be used in specific applications and are expected to drive the market during the forecast period. increase.
Relevant data show that the total output of China's wood-based panels in 2017 was 294.86 million cubic meters, a year-on-year decrease of 1.9%, the first decline in the past two decades. Among them: plywood 171.95 million cubic meters, fiberboard 62.97 million cubic meters, particleboard production of 27.78 million cubic meters, and other wood-based panels 32.16 million cubic meters (carpentry board accounted for 53%).
In 2017, the output of plywood declined slightly, accounting for 58.3% of the total output of wood-based panels, down 0.8% year-on-year. The future output will be stable and declining, but it will maintain the status of the largest board of China's wood-based panels; the supply and demand of fiberboard tends to Balanced, accounting for 21.3% of the national wood-based panel production, continue to maintain the status of China's second-largest wood-based panel, the bottoming trend is obvious; particleboard production increased by 4.8%, becoming a plate of increased production in wood-based panels, accounting for all man-made The board production ratio was 9.4%, an increase of 0.6% year-on-year, and it will rise further in two consecutive years, and its output will further increase.