San Jose, Calif. – Wood Panels, during the past few years, has gained mileage as a preferred material for decorative purposes in claddings, floorings, roof sheathing, internal linings, ceilings, and construction purposes. Wood Panels find extensive application in the construction sector, which represents the largest end use segment, accounting for over 60% of consumption. Globally, the demand for Oriented Strand Board (OSB) is on an upward inclining growth curve, owing to its acceptance in various industries as an effective substitute for plywood. Product developments, along with the technological advancements, have played a major role in increasing the popularity of Medium Density Fiberboard (MDF). Engineered wood products are widely in demand in the market owing to its easy installation and low cost.

The global market for wood panels witnessed heavy declines in terms of consumption during the years 2008 and 2009, on account of the global 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, increasing imports from China emerged as an additional reason to worry. 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.

Europe represents the largest regional market for Wood Panels in terms of consumption, as stated by the new research report on Wood Panels. The US and Asian region comprise the other major consumers of wood panels, with the three capturing a substantial consolidated share of the world market. In terms of fastest growth potential, China is forecast to race ahead, at the overall highest CAGR of 5.4% through 2017. In terms of products, Particleboard, inclusive of Oriented Strand Board (OSB), constitutes the largest market for wood panels. The other segment, Medium Density Fiberboard, offers highest growth opportunity over the analysis period.

The demand for Plywood is rapidly slowing down in most countries, primarily as a result of the dominance of OSB. Oriented Strand Board (OSB) is being viewed as a suitable replacement for plywood in both construction and housing industries. Heightened construction and housing activity in Asia and Europe among other world regions in the near future is likely to push up the demand for furniture, leading to the higher requirement of MDF and particleboard products. As the demand for particleboard is forecast to increase in the coming years, many countries such as Malaysia, Turkey, Vietnam, Brazil, Russia, Indonesia, and India, are already planning to establish new manufacturing facilities to meet the anticipated high demand. The global economic slowdown resulted in a decline in particleboard prices over the period 2008 and 2009, with prices falling significantly as compared to the previous year. Despite the competition from MDF, Particleboard has firmly retained its position as a superior furniture material worldwide. However, on the whole, demand for particleboard is stagnant in some parts of the world.

Key players profiled in the report include Ainsworth Lumber Company, Boise Cascade Company, Canfor Corporation, Duratex SA, The Egger Group, Fletcher Building Ltd, Georgia-Pacific Corporation, Groupe Gascogne, J.M. Huber Corporation, Kronospan Holdings Ltd., Louisiana-Pacific Corporation, Masonite International Corp, Norbord Industries Inc., Pfleiderer AG, Potlatch Corporation, Rougier SA, Svenska Cellulosa Aktiebolaget, Temple-Inland Inc., Tableros De Fibras S.A., UPM- Kymmene Corporation, West Fraser Timberland Inc., and Weyerhaeuser Company.

The research report titled “Wood Panels: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of 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 US, Canada, Japan, Europe, China, Rest of Asia-Pacific, Latin America, and Rest of World. Market analytics are provided in terms of consumption in volume (cubic meters) for product segments, including Particleboard (Including Oriented Strand Board), Plywood, Medium Density Fiberboard, and Other Wood Panel Markets, for the years 2009 through 2017. The study also presents historic data for an insight into market evolution over the period 2003 through 2008.

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Source: Global Industry Analysts Inc.

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