Wood Based Panel Market 2024 Top Players China Foma, Xinxiel Groupt Co, Caihong Wood Co Ltd., Timber Products Company, Yalian Machinery Co.

(EstateNewsWire.com, August 10, 2018 ) Europe Wood Based Panel Market has generated huge profitability and strong growth in the last few years on account of the growth of the furniture sector and rising construction industry. However, increasing cost of a range of inputs such as wood, energy and resin is expected to challenge the panel manufacturers across the Europe over the forecast period. In addition, the European panel producers are competing with the biomass industry for the procurement of wood.

Wood based panel market size was valued over USD 16 billion in 2015 and is anticipated to grow at CAGR of over 13% and exceed USD 35 billion by 2023.

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In 2014, China wood based panel market accounted for more than 50,000 products for manufacturing and trading enterprises, employing more than 10 million workforce and generating an output of USD 155 billion. The utilization by these enterprises exceeds 520 million and the value of exports was USD 75 billion in 2014. However, the sector suffers from a poor image due to quality scandals. In 2015, Italy has recorded gain of 7%, with an optimistic business climate for the third consecutive quarter.

China exported 5.8 million tons of wood based panels which cost around USD 5,813 million in 2014, growing at a CAGR of 15% over the previous year. China trades with the U.S., where it exports around 15% of its total panel, accounting for 55% of the U.S. total imports. One of the challenges that both the North American and European panel makers are facing is the increasing imports from China. In 2014, China and Indonesia are identified as the foremost global suppliers of the panels with a combined share of over 55% of total exports. China significantly strengthened its position in the global export structure, from 31% in 2007 to 39% in 2014.

Increasing deforestation has lead towards the global warming which has boosted the demand growth for efficient and effective utilization of timber. This is expected to fuel the industry demand over the forecast period. In addition, technological innovation and advancement along with the mounting efficiency in manufacturing is likely to bolster the demand from 2016 to 2023. However, rapid increases in the cost pertaining to the petroleum based fuel and products continue to amplify the marketing and production cost of the industry, which in turn obstructing its growth over the forecast period.

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Major manufacturers for the global wood based panel market share include Lin Shi Tong Wood Co. Ltd, China Foma, Xinxiel Groupt Co, Caihong Wood Co Ltd., Timber Products Company, Yalian machinery Co, D.I.V.A Aluminium Products, Changzhou Hengyi Wood Products Co Ltd, Qingdao Nianlum Wood Processing Co. Ltd., SKLEJKA PISZ PAGED S.A., Jechen Group, Daregroup, Linyi Guangsha Wood Industry Co Ltd, Shanghai Wood-Based Panel Machinery Co, Mebelny Kombinat Rassvet and Main Land Trading Company among others.

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