Covid-19 impact on Europe Wood Based Panel Market Opportunities To Reach $28.03 Billion By 2025

The Europe wood based panel market is expected to reach USD 28.03 billion by 2025, according to a new report by Grand View Research, Inc. Growing demand for lightweight, high strength, and sturdy materials for packaging applications is expected to propel growth.

The region is one of the largest and the strictest markets for conventional and sustainable timber products as it is governed by several stringent rules and regulations. The market witnessed a high demand-supply gap during the economic downfall in the region, which impacted the revenues of suppliers. However, economic recovery in the region, which further is driving the construction and packaging sector growth is expected to propel product demand over the projected period.

The industry has several major players with high production capacities and strong foothold. These players are expected to undergo consolidations in order to strengthen their presence in the domestic as well as international markets.

High production capacities, wide product portfolio, lack of product innovations, and relatively slower growth of the application industries in the region are expected to increase rivalry. However, increasing demand for innovative products, particularly in decorative applications, is expected to open new avenues for the players.

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www.grandviewresearch.com/industry-analysis/europe-wood-based-panel-market

Further key findings from the report suggest:

• The demand for the product in the region is primarily driven by the furniture application segment and is expected to grow at a CAGR of 5.2% in terms of revenue from 2017 to 2025. Growing demand for wooden material to replace plastic and glass furniture is likely to drive growth
• Particleboard dominated the industry, accounting for 47.1% of the overall demand owing to its uniform structure, low cost, and wide application scope in the construction application. Furthermore, rising product demand for manufacturing flooring and bathrooms & kitchen units is expected to have a positive impact on the industry
• High competition in the industry owing to the presence of major players with sufficient production capacities compel manufacturers to lower product pricing in order to tap the consumer demand. Furthermore, rising raw material prices are expected to hamper profit margins for the producers over the forecast period
• Germany was the largest market for the product in 2016, accounting for 13.4% of the overall demand owing to high product consumption for furniture and decorative applications. Government initiatives to improve the construction sector coupled with rising consumer disposable income in the region are likely to fuel growth
• In Europe, the Netherlands is expected to be the fastest-growing market over the projected period in terms of volume followed by Spain owing to the significant growth of the construction and packaging sector in these regions
• The industry is characterized by the presence of a significant number of manufacturers with few of them integrated across the value chain to manufacture raw materials. Regional expansion, mergers, and innovations are expected to be the leading strategies for players to bolster their presence in the industry
• In Europe, wood-based panels fall under the ‘EN 13986 harmonized European regulations’ and The Engineered Wood Association in Europe describes the regulations associated with the individual type of wood-based panels including plywood, oriental standard boards (OSB), and fiberboards
• The major players include ante-Group, ARAUCO, Canfor, KLAUSNER-GROUP, KlenkHolz AG, Georgia-Pacific, Kronospan Worldwide and Idaho Forest Group, LLC