SAN JOSE, CA -- World demand for composite wood panels is expected to reach 299.3 million cubic meters by 2015, according to a new report by Global Industry Analysts Inc.

The report sees wood panel consumption rebounding after sliding backwards due to the construction downturn. The report notes that the construction sector accounts for 60% of wood panel use.
 
According to the researchers, "The global market for wood panels witnessed heavy declines in terms of consumption during the years 2008 and 2009 on account of the worldwide economic crisis having a sobering effect on the major end-use markets. The North American market for wood panels followed the likes of the global market featuring the largest decline in 2009, a steeper fall from the previous year's decrease. However, the residential repair and remodeling sector remained strong despite recession as consumers chose to repair their homes over the costlier option of buying a new house. During the year 2009, about 15 sawmills were shut down in North America alone, resulting in a net capacity loss of about 2.2 million cubic meters. The global economic slowdown also resulted in a decline in particleboard prices over the past two years, which fell by 16% in 2009 as compared to 2008.

"Even as the global market resumed growth in 2010, in line with recovering world economies, rising imports from China emerged as an additional reason to worry," the researchers note. "Wood products market worldwide also faced competition from the biomass industry in raw wood procurement. While the aggregate market for wood panels is poised for slow growth over the review period, few product segments are fast gaining in popularity and are forecast to witness high growth rates."

"Wood Panels: A Global Strategic Business Report," reviews current market trends and issues, product and end-use analysis, technological developments, regulatory environment, product introductions, recent industry activity and profiles of market players worldwide. Analysis and overview is provided for major geographic markets such as the U.S., Canada, Japan, Europe, China, Asia-Pacific and Latin America. Materials studied include particelboard, OSB, plywood, MDF and more.

Posted by Rich Christianson