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Wood Based Panel Market to Perceive Substantial Growth by the end of 2025

Author : Rahul Varpe | Published Date : 2019-10-18 

Wood Based Panel Market research report added by Global Market Insights delivers a comprehensive analysis on the newest market drivers. The report also offers extracts regarding statistics, market valuation and revenue estimates, which further strengthens its status in the competitive spectrum and growth trends embraced by leading manufacturers in the business.

The changes in incorporating newer definitions of structural use panels by American Plywood Association (APA) is likely to boost the global demand in South America as well as in North America region. Modernization in infrastructure and rapid industrialization in developing economies of Asia Pacific is likely to be a chief industry driver for the global wood based panel market over the next few years.

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China exported 5.8 million tons of wood based panels which cost around USD 5,813 million in 2014, growing at a CAGR of 15% over the previous year. China trades with the U.S., where it exports around 15% of its total panel, accounting for 55% of the U.S. total imports. One of the challenges that both the North American and European panel makers are facing is the increasing imports from China. In 2014, China and Indonesia are identified as the foremost global suppliers of the panels with a combined share of over 55% of total exports. China significantly strengthened its position in the global export structure, from 31% in 2007 to 39% in 2014.

Europe wood based panel market has generated huge profitability and strong growth in the last few years on account of the growth of the furniture sector and rising construction industry. However, increasing cost of a range of inputs such as wood, energy and resin is expected to challenge the panel manufacturers across the Europe over the forecast period. In addition, the European panel producers are competing with the biomass industry for the procurement of wood.

Increasing deforestation has lead towards the global warming which has boosted the demand growth for efficient and effective utilization of timber. This is expected to fuel the wood based panel market demand over the forecast period. In addition, technological innovation and advancement along with the mounting efficiency in manufacturing is likely to bolster the demand from 2016 to 2023. However, rapid increases in the cost pertaining to the petroleum based fuel and products continue to amplify the marketing and production cost of the industry, which in turn obstructing its growth over the forecast period.

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Major manufacturers for the global wood based panel market share include Lin Shi Tong Wood Co. Ltd, China Foma, Xinxiel Groupt Co, Caihong Wood Co Ltd., Timber Products Company, Yalian machinery Co, D.I.V.A Aluminium Products, Changzhou Hengyi Wood Products Co Ltd, Qingdao Nianlum Wood Processing Co. Ltd., SKLEJKA PISZ PAGED S.A., Jechen Group, Daregroup, Linyi Guangsha Wood Industry Co Ltd, Shanghai Wood-Based Panel Machinery Co, Mebelny Kombinat Rassvet and Main Land Trading Company among others.

Related News: https://shindevinayak.kinja.com/hybrid-additive-manufacturing-machines-market-study-by-1839068765?rev=1571166477752

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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