Europe Wood Based Panel Industry Overview
The Europe wood based panel market size was estimated at USD 16.85 billion in 2016. Wood based products have been dominating the furniture and construction sector in the region and this trend is expected to continue over the projected period, thus impacting the industry on a positive note.
The European wood based panel industry is governed by the stringent regulatory framework. The products offered by the manufacturers need to comply with the quality standards given by the European Union. As a result, manufacturers are likely to focus more on R&D and product quality. Changing consumer preference from the use of ceramic and glass to wood products in furniture, and construction applications is expected to hamper product demand.
Gather more insights about the market drivers, restrains and growth of the Europe Wood Based Panel Market
The product is bio-derived and is expected to witness significant growth in the construction application owing to recyclability. Traditionally, wood products have been dominating the European construction sector and this trend is likely to continue over the projected period. Growing demand for the product for manufacturing floorings, decking, windows, and doors in residential and commercial buildings is likely to have a positive impact on industry growth.
The Construction 2020 Action Plan established by the European government with an objective to stabilize the construction industry growth in the region is expected to have a positive impact on the industry over the forecast period. Product quality and pricing are expected to be the key factors influencing the buyer’s decision. As a result, the manufacturers are expected to lower their product cost in order to tap then consumer attention.
The manufacturing process of wood based panels releases dust, formaldehyde emission, and total organic carbon which raises concern about environmental emission. The government regulations for the emission is expected to hamper the Europe wood based panel market growth over the forecast period. In addition, the growing demand for the raw materials for the biomass industry is likely to lower the availability of wood based panel manufacturing.
Growing demand for recyclable, lightweight, high strength, and sturdy products in the packaging and construction application is expected to propel growth. However, the industry is likely to witness internal substitution over the projected period as the majority of the products cater to similar applications.
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- Wood Based Panel Market – The global wood based panel market size was estimated at USD 144.67 billion in 2019 and is anticipated to expand at a revenue-based CAGR of 6.9% from 2020 to 2027. Low product cost coupled with superior properties including strength and durability is the key factor driving the demand for wood based panels for ceiling, cladding, roofing, flooring and furniture applications.
- Construction Adhesive Market – The global construction adhesive market size was valued at USD 9.65 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 5.3% from 2022 to 2030. Growing investments in the infrastructure sector worldwide are likely to push the demand for construction adhesives during the forecast period.
Europe Wood Based Panel Market Segmentation
Grand View Research has segmented the Europe wood based panel market on the basis of product, application, and country:
- Europe Wood Based Panel Product Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2014 – 2025)
- Standard MDF
- Think MDF
- Europe Wood Based Panel Application Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2014 – 2025)
- Windows & Doors
- Flooring & Decking
- Country Outlook (Volume, Thousand Cubic Meters; Revenue, USD Million, 2014 – 2025)
- The U.K.
- The Netherlands
- Rest of Europe
Market Share Insights
- November 2020: West Fraser acquired Norbord, making a Diversified Global Wood Products Leader. This securing has expanded the believability of the organization on the lookout and accordingly will help the organization in differentiating its business.
Key Companies profiled:
Some prominent players in the Europe wood based panel market include:
- Dongwha Malaysia Holdings Sdn Bhd
- Idaho Forest Group, LLC
- Interfor Corporation
- KlenkHolz AG
- Kronospan Worldwide
- Dieffenbacher GmbH
- Holzindustrie Schweighofer
- Shanghai Jechen Group Company Ltd.
- Sierra Pacific Industries
- Stora Enso
- Timber Products Co., Ltd.
- Tolko Industries
- West Fraser Timber Co., Ltd.
- Hampton Affiliates
- Pfeifer Gruppe
- Resolute Forest Products
- Rettenmeier Holding AG
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