Market by Product Type (Medium Density Fiberboard (MDF)/High Density Fiberboard (HDF), Particleboard, Oriented Strand Board (OSB), Plywood, Other Product Types) Application (Furniture, Construction, Packaging, Other Applications) and Country Outlook | Forecast 2024-2032
According to Triton’s research report, the wood based panel market in the Asia-Pacific is estimated to expand in terms of revenue at a CAGR of 6.34% over the forecast years 2024-2032.
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According to UN-Habitat, urbanization remains a defining megatrend in the Asia-Pacific region, where 54% of the global urban population currently resides. This rapid urban expansion drives an urgent need for housing, commercial buildings, and infrastructure like roads, bridges, and public utilities. As a result, the demand for wood-based panels, vital for construction applications such as flooring, wall paneling, and roofing, has surged in tandem with construction activity, significantly boosting market growth. Recognizing the economic and environmental advantages of a robust wood-based panel industry, governments across this region are supporting this sector. Financial incentives such as grants, subsidies, and low-interest loans to encourage investments in advanced wood processing technologies are further influencing the market progress.
The countries analyzed in this region include:
China leads with a major market share, recording nearly $49.27 billion in 2023.
China has positioned itself as a global leader in the wood-based panel industry by reaching an impressive 337 million cubic meters, reflecting an 8.3% year-on-year increase.
This consistent growth underscores the strong domestic and international demand for China’s wood products driven by its substantial production capacity and economic influence in the sector.
Thus, recognizing the country’s market potential, the government supports the wood-based panel industry through policies that encourage sustainable production practices and boost the industry’s economic value, further fueling its growth and competitive edge globally.
Wood Based Panel Market Forecast for Japan
Japan’s wood-based panel market is positioned for strong growth, spurred by significant government investments in construction projects across sectors like healthcare, energy, infrastructure, and more. This surge in construction activity is expected to drive demand for wood-based panels, essential for both building and furniture manufacturing. The country’s construction industry also places a high value on wooden frame housing, making it one of the largest markets for this type of construction globally.
The wood based panel market is segmented by product type and application. Based on application, it is further classified into furniture, construction, packaging, & other applications. The commercial furniture sector encompasses a wide range of products, such as office furniture, hotel furnishings, and institutional pieces. This type of furniture, including desks, chairs, and conference tables, is a major contributor, with an emphasis on ergonomic design and sustainable practices. Wood-based panels—including plywood, particleboard, medium-density fiberboard (MDF), and oriented strand board (OSB)—are essential materials in the production of these furniture items.
Contender Analysis in the Wood Based Panel Market:
Century Plyboards Ltd is a leading manufacturer and distributor of building materials. Its product range includes plywood, block boards, decorative veneers, timber, particle boards, flush doors, medium-density fiberboards (MDF), decorative laminates, pre-laminated boards, and fiber cement boards. The company also trades in chemicals and advanced panel products while providing logistics and container freight station services. It markets its products under several brand names, including Century Doors, Century Veneers, Centuryply Block Boards, Centuryply, Century Laminates, and Zykron. With manufacturing facilities across multiple Indian states, the company also exports to countries like Indonesia, Singapore, Israel, Vietnam, Mexico, the USA, Venezuela, UAE, and Canada. It is headquartered in West Bengal, India.
Recently, it has inaugurated India’s largest integrated wood panel manufacturing facility (100-acre plant) in Badvel, Andhra Pradesh.
Other key contenders in the market include Kastamonu Entegre, Louisiana-Pacific Corporation, Kronospan Limited, Mieco Chipboard Berhad, Roseburg Forest Products, and Green River Holding Co Ltd.
KEY DELIVERABLES OF THE REPORT:
Market CAGR during the forecasting years 2024-2032
Detailed data highlighting key insights, industry components, and market strategies
Comprehensive information and estimation of the wood based panel market revenue growth in APAC and its influence on the parent market
In-depth study of forthcoming trends in consumer behavioral patterns
A meticulous analysis of the competitive landscape and Porter’s Five Forces
A wide-ranging study of factors that will challenge the APAC wood based panel market’s growth during the upcoming years
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VIEW REPORT1. ASIA-PACIFIC
WOOD BASED PANEL MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
ANALYSIS ON THE WOOD BASED PANEL MARKET
2.1.1. COVID-19
IMPACT ON THE WOOD BASED PANEL MARKET
2.1.2. UKRAINE-RUSSIA
WAR IMPACT ON WOOD BASED PANEL MARKET
2.2. PORTER’S
FIVE FORCES ANALYSIS
2.2.1. THREAT
OF NEW ENTRANTS
2.2.2. THREAT
OF SUBSTITUTES
2.2.3. BARGAINING
POWER OF BUYERS
2.2.4. BARGAINING
POWER OF SUPPLIERS
2.2.5. THREAT
OF COMPETITIVE RIVALRY
2.3. MARKET
MATURITY ANALYSIS
2.4. SUPPLY
CHAIN ANALYSIS
2.4.1. RAW
MATERIALS
2.4.2. MANUFACTURING
2.4.3. QUALITY
CONTROL AND TESTING
2.4.4. DISTRIBUTORS
2.4.5. SALES
2.5. KEY
MARKET STRATEGIES
2.5.1. ACQUISITIONS
2.5.2. CONTRACTS
& AGREEMENTS
2.5.3. BUSINESS
DIVESTITURES & EXPANSIONS
2.6. MARKET
DRIVERS
2.6.1. POSITIVE
GROWTH TRENDS IN RESIDENTIAL AND COMMERCIAL CONSTRUCTION
2.6.2. GROWING
ADOPTION OF SUSTAINABLE BUILDING PRACTICES
2.6.3. INCREASE
IN HOUSEHOLD SPENDING AND FURNITURE UPGRADES FOR WOOD-BASED PANELS
2.7. MARKET
CHALLENGES
2.7.1. STRICT
GOVERNMENT REGULATIONS ON DEFORESTATION
2.7.2. FORMALDEHYDE
EMISSIONS FROM WOOD-BASED PRODUCTS
2.7.3. TIMBER
SUPPLY SHORTAGES
2.8. MARKET
OPPORTUNITIES
2.8.1. EMERGING
TRENDS IN TECHNOLOGICAL INNOVATION
2.8.2. EVOLVING
FIELD OF CONSTRUCTION AND URBAN DEVELOPMENT
2.9. ANALYST
PERSPECTIVE
3. ASIA-PACIFIC
WOOD BASED PANEL MARKET – BY PRODUCT TYPE
3.1. MEDIUM-DENSITY
FIBERBOARD (MDF)/ HIGH-DENSITY FIBERBOARD (HDF)
3.2. PARTICLEBOARD
3.3. ORIENTED
STRAND BOARD (OSB)
3.4. PLYWOOD
3.5. OTHER
PRODUCT TYPES
4. ASIA-PACIFIC
WOOD BASED PANEL MARKET – BY APPLICATION
4.1. FURNITURE
4.1.1. RESIDENTIAL
BUILDING
4.1.2. COMMERCIAL
BUILDING
4.2. CONSTRUCTION
4.2.1. FLOOR
AND ROOF
4.2.2. WALL
4.2.3. DOOR
4.2.4. OTHER
CONSTRUCTIONS
4.3. PACKAGING
4.4. OTHER
APPLICATIONS
5. ASIA-PACIFIC
WOOD BASED PANEL MARKET – BY COUNTRY OUTLOOK
5.1. ASIA-PACIFIC
5.1.1. COUNTRY
ANALYSIS
5.1.1.1. CHINA
5.1.1.1.1. CHINA WOOD
BASED PANEL MARKET FORECAST & PROSPECTS
5.1.1.2. JAPAN
5.1.1.2.1. JAPAN WOOD
BASED PANEL MARKET FORECAST & PROSPECTS
5.1.1.3. INDIA
5.1.1.3.1. INDIA WOOD
BASED PANEL MARKET FORECAST & PROSPECTS
5.1.1.4. SOUTH
KOREA
5.1.1.4.1. SOUTH
KOREA WOOD BASED PANEL MARKET FORECAST & PROSPECTS
5.1.1.5. ASEAN
COUNTRIES
5.1.1.5.1. ASEAN
COUNTRIES WOOD BASED PANEL MARKET FORECAST & PROSPECTS
5.1.1.6. AUSTRALIA
& NEW ZEALAND
5.1.1.6.1. AUSTRALIA
& NEW ZEALAND WOOD BASED PANEL MARKET FORECAST & PROSPECTS
5.1.1.7. REST
OF ASIA-PACIFIC
5.1.1.7.1. REST
OF ASIA-PACIFIC WOOD BASED PANEL MARKET FORECAST & PROSPECTS
6. COMPETITIVE
LANDSCAPE
6.1. CENTURY
PLY
6.1.1. OVERVIEW
6.1.2. PORTFOLIO
6.1.3. KEY
STRENGTHS
6.1.4. KEY
CHALLENGES
6.2. ARAUCO
6.2.1. OVERVIEW
6.2.2. PORTFOLIO
6.2.3. KEY
STRENGTHS
6.2.4. KEY
CHALLENGES
6.3. DONGWHA
MALAYSIA SDN BHD
6.3.1. OVERVIEW
6.3.2. PORTFOLIO
6.4. EGGER
GROUP
6.4.1. OVERVIEW
6.4.2. PORTFOLIO
6.4.3. KEY
STRENGTHS
6.4.4. KEY
CHALLENGES
6.5. GEORGIA-PACIFIC
LLC
6.5.1. OVERVIEW
6.5.2. PORTFOLIO
6.5.3. KEY
STRENGTHS
6.5.4. KEY
CHALLENGES
6.6. EVERGREEN
FIBREBOARD BERHAD
6.6.1. OVERVIEW
6.6.2. PORTFOLIO
6.6.3. KEY
STRENGTHS
6.6.4. KEY
CHALLENGES
6.7. GREEN
RIVER HOLDING CO LTD
6.7.1. OVERVIEW
6.7.2. PORTFOLIO
6.8. KRONOSPAN
LIMITED
6.8.1. OVERVIEW
6.8.2. PORTFOLIO
6.9. KASTAMONU
ENTEGRE
6.9.1. OVERVIEW
6.9.2. PORTFOLIO
6.9.3. KEY
STRENGTHS
6.9.4. KEY
CHALLENGES
6.10. LOUISIANA-PACIFIC
CORPORATION
6.10.1. OVERVIEW
6.10.2. PORTFOLIO
6.10.3. KEY
STRENGTHS
6.10.4. KEY
CHALLENGES
6.11. MIECO
CHIPBOARD BERHAD
6.11.1. OVERVIEW
6.11.2. PORTFOLIO
6.12. ROSEBURG
FOREST PRODUCTS
6.12.1. OVERVIEW
6.12.2. PORTFOLIO
6.12.3. KEY
STRENGTHS
6.12.4. KEY
CHALLENGES
6.13. PFEIFER
GROUP
6.13.1. OVERVIEW
6.13.2. PORTFOLIO
6.14. WEST
FRASER TIMBER CO LTD
6.14.1. OVERVIEW
6.14.2. PORTFOLIO
6.14.3. KEY
STRENGTHS
6.14.4. KEY
CHALLENGES
6.15. SWISS
KRONO GROUP
6.15.1. OVERVIEW
6.15.2. PORTFOLIO
6.15.3. KEY
STRENGTHS
6.15.4. KEY
CHALLENGES
6.16. WEYERHAEUSER
COMPANY
6.16.1. OVERVIEW
6.16.2. PORTFOLIO
6.16.3. KEY
STRENGTHS
6.16.4. KEY
CHALLENGES
7. RESEARCH
METHODOLOGY & SCOPE
7.1. RESEARCH
SCOPE & DELIVERABLES
7.2. SOURCES
OF DATA
7.3. RESEARCH
METHODOLOGY
TABLE 1: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY COUNTRY OUTLOOK, FORECAST YEARS, 2024-2032 (IN $
BILLION)
TABLE 2: LIST OF ACQUISITIONS
TABLE 3: LIST OF CONTRACTS
& AGREEMENTS
TABLE 4: LIST OF BUSINESS
DIVESTITURES & EXPANSIONS
TABLE 5: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY PRODUCT TYPE, 2024-2032 (IN $ BILLION)
TABLE 6: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY APPLICATION, 2024-2032 (IN $ BILLION)
TABLE 7: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY FURNITURE, 2024-2032 (IN $ BILLION)
TABLE 8: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY CONSTRUCTION, 2024-2032 (IN $ BILLION)
TABLE 9: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY COUNTRY OUTLOOK, FORECAST YEARS, 2024-2032 (IN $
BILLION)
FIGURE 1: PORTER’S FIVE FORCES
ANALYSIS
FIGURE 2: MARKET MATURITY
ANALYSIS
FIGURE 3: SUPPLY CHAIN
ANALYSIS
FIGURE 4: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY PRODUCT TYPE, 2023 & 2032 (IN %)
FIGURE 5: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY MEDIUM-DENSITY FIBERBOARD (MDF)/HIGH-DENSITY FIBERBOARD
(HDF), 2024-2032 (IN $ BILLION)
FIGURE 6: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY PARTICLEBOARD, 2024-2032 (IN $ BILLION)
FIGURE 7: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY ORIENTED STRAND BOARD (OSB), 2024-2032 (IN $ BILLION)
FIGURE 8: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY PLYWOOD, 2024-2032 (IN $ BILLION)
FIGURE 9: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY OTHER PRODUCT TYPES, 2024-2032 (IN $ BILLION)
FIGURE 10: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY APPLICATION, 2023 & 2032 (IN %)
FIGURE 11: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY FURNITURE, 2024-2032 (IN $ BILLION)
FIGURE 12: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY RESIDENTIAL BUILDING, 2024-2032 (IN $ BILLION)
FIGURE 13: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY COMMERCIAL BUILDING, 2024-2032 (IN $ BILLION)
FIGURE 14: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY CONSTRUCTION, 2024-2032 (IN $ BILLION)
FIGURE 15: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY FLOOR AND ROOF, 2024-2032 (IN $ BILLION)
FIGURE 16: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY WALL, 2024-2032 (IN $ BILLION)
FIGURE 17: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY DOOR, 2024-2032 (IN $ BILLION)
FIGURE 18: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY OTHER CONSTRUCTIONS, 2024-2032 (IN $ BILLION)
FIGURE 19: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY PACKAGING, 2024-2032 (IN $ BILLION)
FIGURE 20: ASIA-PACIFIC WOOD
BASED PANEL MARKET, BY OTHER APPLICATIONS, 2024-2032 (IN $ BILLION)
FIGURE 21: ASIA-PACIFIC WOOD
BASED PANEL MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE 22: CHINA WOOD BASED
PANEL MARKET 2024-2032 (IN $ BILLION)
FIGURE 23: JAPAN WOOD BASED
PANEL MARKET 2024-2032 (IN $ BILLION)
FIGURE 24: INDIA WOOD BASED
PANEL MARKET 2024-2032 (IN $ BILLION)
FIGURE 25: SOUTH KOREA WOOD
BASED PANEL MARKET 2024-2032 (IN $ BILLION)
FIGURE 26: ASEAN COUNTRIES
WOOD BASED PANEL MARKET 2024-2032 (IN $ BILLION)
FIGURE 27: AUSTRALIA & NEW
ZEALAND WOOD BASED PANEL MARKET 2024-2032 (IN $ BILLION)
FIGURE 28: REST OF
ASIA-PACIFIC WOOD BASED PANEL MARKET 2024-2032 (IN $ BILLION)