Global Wood Based Panel Market
CARB

Global Wood Based Panel Market projected to grow at CAGR of 7.2% between 2016 – 2026

Wood based panel’s growth is likely to be driven by increasing end-use applications in furniture, building, handicrafts and other sectors, as it offers consumers advantages such as usage of minimal material and energy consumption and enhanced productivity. Furthermore, the wood based panel market is predicted to increase throughout the forecast period (2022-2026) due to continued development of wood based panels and market participant’s implementation of advanced technologies in the manufacturing process.

The first five-year cumulative revenue (2017–2021) of the wood based panel market is projected to be US$ 3,29,956.7 Mn, compared to a higher cumulative revenue total of US$ 5,41,493.6 Mn for the latter five years of the forecast period (2022–2026).