Global Wood Based Panel Market Revenue to Register CAGR of 7.2% Over Next 10 Years - MarketResearch.biz

NEW YORK, April 9, 2018 /PRNewswire/ --

MarketResearch.biz announces publication of its most recently generated research report titled, "Global Wood Based Panel Market by Type (Waferboard and OSB, Particleboard, Medium Density Fiberboard, Hardwood, Softwood and Plywood, and Other Boards), By End Use (Furniture, Construction, Door, and Others), and Region - Global Forecast to 2026.", which offers a holistic view of the wood based panel market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be US$ 3,29,956.7 Mn, which is expected to increase rather moderately over the latter part of the five-year forecast period. According to report, the wood based panel market is projected to reach a value of US$ 1,06,929.0 Mn in 2026 at a CAGR of over 7.0% over the forecast period.

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Wood based panel is made of single piece or variety of pieces which are joint together. Key players operating in the market manufactures reconstituted wood panels such as oriented strand board, medium-density fibreboard which as cost effective, gives high productivity, flexibility, and requires minimum material and energy consumption thus creating demand for wood based panel.

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Global Wood Based Panel Market: Market Dynamics  

Increasing use of wood based panel in various applications across the globe is expected to be a major factors driving the growth of the global wood based panel market. In addition, increasing demand for interior designing and furniture in developed and developing economies is expected to create demand for global wood based panel market over the forecast period. Furthermore, increasing demand for wood based panel in repair and renovations activities is another factor expected to contribute for the growth of the global wood based panel market over the forecast period.

However, stringent government regulations regarding formaldehyde emission is key factor restraining growth of the global wood based panel market. Additionally, high cost and variabilities in raw material quality are other factors expected to limit the growth of the global wood based panel market over the forecast period.