Zion Market Research, the market research group announced the analysis report titled 'Wood Based Panel Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2024'.
Sarasota, FL -- (SBWIRE) -- 06/29/2018 -- Global Wood Based Panel Market: Overview
A wood based is made of single piece or variety of pieces, which are joined together. Wood base panels are basically used in packaging, shipping, and construction. Manufacturers buy raw materials from various suppliers includes brokers, recycled fiber brokers, independent log merchant, and timber owners. A majority of manufacturers have short-term contracts with raw material suppliers.
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Global Wood Based Panel Market: Growth Factors
Increasing use of wood based panel in various applications across the world is driving the growth of the global wood based panel market. High investments in residential and commercial construction, low cost of the product coupled with superior properties, interior designing, and furniture in developed and developing economies are fueling the demand of this market. Moreover, increasing efficiency in manufacturing, repair and renovations activities and technological advancements are increasing demand of the global wood base panel market.
However, growing deforestation leading to global warming, rapidly increasing the cost of petroleum-based fuels continue to escalate the production of wood-based panel products are hindering the global wood based panel market growth. Stringent government regulations concerning formaldehyde emission is restraining the growth of the global wood base panel market. Furthermore, growing public-private partnerships in the construction sector are likely to be a key trend stoking the global wood based panel market growth. Development of advanced technology creates a potential opportunity for players operating in the global wood based panel market in coming years.
Global Wood Based Panel Market: Segmentation
The global wood based panel market is segmented on the basis of type, end user, and region. On the basis of type, the global wood based panel market is divided into softwood, hardwood and plywood, medium density fiberboard, particleboard, insulation board, waferboard and OSB, and other structural composite boards. On the basis of the end user, the market is segmented into furniture, door, construction, and others. Geographically, the market is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Global Wood Based Panel Market: Regional Analysis
In terms of region, North America and South America are expected to bolster the demand for global wood based panel market. The fastest growing Asian countries such as India, China, and Indonesia are expected to continue growth owing to increase in disposable incomes, and urbanization. The other emerging countries such as Brazil, Russia, and Eastern Europe emerge to have potential growth in global wood based panel market. China and Japan are the main global suppliers of wood based panels. United State, Germany, and Japan are the leading destinations of wood based panel imports.
Global Wood Based Panel Market: Competitive Players
Some of the major market players in the global wood based panel market are Norbord Inc., Hampton Resources Inc., Kronospan Ltd, Canfor Corporation, Shanghai Jechen Group Co Ltd, Timber Products Company, Weyerhaeuser Company Limited, West Fraser Timber Co. Ltd, Georgia-Pacific Corp, Resolute Forest Products Inc, Interfor Corporation, Louisiana-Pacific Corporation, Duratex, Bucina DDD, and Kastamonu Entegre, among others.
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