Global Wood Based Panel Market

Expected to show good growth in Wood Panel Industry

The CARB & EPA TSCA Title VI Certification program certifies composite wood in accordance with California Air Resources Board (CARB) Airborne Toxic Control Measure (ATCM) to reduce formaldehyde emissions from composite wood products with accordance to sections 93120-93120.12 and Environmental Protection Agency (EPA) Toxic Substances Control Act (TSCA) Title VI, 40 CFR Part 770. They both have the same goal of protecting public health, protecting ecological systems, and reducing climate change by limiting emissions of toxins into the air

The current potential for wood panel industry is expected to grow in recent years with MDF demand expecting to grow at 15-20% per annum over the next two years. The Plywood segment is also expected to see double digit volume growth as demand from plywood has resurrected from 2021 onwards and is expected to maintain the growth trajectory going ahead.
Apart from pent-up demand, key growth drivers in the medium term are rising such as income levels, urbanisation, real estate development, and housing for all, among others. Further, leading wood panel manufacturers are expected to grow at a faster pace, benefiting from market share gains from the unorganised sector, leveraging their strong distribution network. The government’s focus on making India an export hub provides strong export growth opportunities for the industry. Also, growth prospects of real estate industry are another good news for wood panel industry.

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