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
Triton’s research analysis states that the wood based panel market in North America is estimated to gain revenue at a CAGR of 6.17% over the forecast years 2024-2032.
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The wood-based panel market in North America is experiencing strong growth, driven by rising demand for durable housing materials and increased infrastructure projects. The need for materials like plywood, particleboard, and medium-density fiberboard (MDF) in the furniture sector is influencing market growth. There is also an increase in the adoption of sustainable and aesthetically versatile wood-based panels in both residential and commercial settings. A growing emphasis on eco-friendly building practices further supports this market, as high-quality wood panels are renewable, recyclable, and offer strong performance in strength, durability, and insulation.
The countries researched in this region include:
The United States holds the largest market share, achieving around $52.14 billion in 2023.
The US wood-based panel market is expanding, driven by robust construction activities and a housing market recovery. In 2021, residential construction spending rose by 25%, with single-family expenditures up 37% and repair/remodeling activities increasing by 15.2%, according to UNECE data.
As a key market driver, the US construction industry employed 8 million people and generated nearly $2.1 trillion in structures in 2023, solidifying the demand for wood-based panels like softwood plywood and MDF.
Despite supply chain disruptions and labor shortages, wood based panel production has remained strong, thereby contributing to the market uptrend in the country.
Wood Based Panel Market Forecast for Canada
The wood-based panel market in Canada is set for growth, supported by the expanding construction and furniture sectors. Employing over 1.6 million people and generating $151 billion annually (7.4% of Canada’s GDP), according to the Canadian Construction Association—the construction industry drives strong demand for wood-based panels in residential, commercial, and infrastructure projects. Additionally, the country’s robust furniture industry, bolstered by rising office, educational, hospitality, and restaurant construction, continues to boost demand for wood-based panels in furniture production, further supporting market expansion.
The studied market is categorized into application and product type. The product type segment comprises plywood, high-density fiberboard (HDF)/medium-density fiberboard (MDF) particleboard, oriented strand board (OSB), and other product types. Plywood demand is rising in the construction and furniture industries due to its high strength, moisture resistance, impact resistance, fire resistance, and durability. Made by gluing thin veneer layers, plywood is also valued for its insulating properties, making it suitable for wall cladding, ceilings, roofing, and flooring. Its versatility in marine, structural, interior, and exterior applications boosts its appeal. While its stability and enhanced chemical resistance increase demand in areas like doors, staircases, cladding, flooring, shear walls, and timber frame structures.
Contender Analysis in the Wood Based Panel Market:
Georgia-Pacific LLC, a subsidiary of Koch Industries, produces a diverse array of products in the US, including tissue, absorbent food pads, tray covers, building materials, pulp, paper, napkins, surgical drapes, packaging, and specialty chemicals. Serving both residential and commercial construction markets, the company provides engineered lumber, gypsum panels, and other building materials. Its products also support industries like aerospace, mining, and facilities management. Its brand portfolio features Brawny Professional, Compact, Dixie, ActiveAire, Angelsoft, Dixie Ultra, enMotion, and Pacific Blue. Headquartered in Atlanta, Georgia, it operates numerous manufacturing facilities across North America, South America, and Europe.
Recently, the company announced that it will adjust operations at its lumber facilities in Camden, Texas, and Prosperity, South Carolina. In the coming months, these locations will cease lumber production from logs but will continue with plywood core sawing operations.
The other important contenders in the wood based panel market are Mieco Chipboard Berhad, Green River Holding Co Ltd, Kastamonu Entegre, Kronospan Limited, and Louisiana-Pacific Corporation.
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 North America 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 North America wood based market’s growth during the upcoming years
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VIEW REPORT1. NORTH AMERICA 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. NORTH AMERICA 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. NORTH AMERICA 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. NORTH AMERICA WOOD BASED
PANEL MARKET – BY COUNTRY OUTLOOK
5.1.1. COUNTRY ANALYSIS
5.1.1.1.
UNITED
STATES
5.1.1.1.1.
UNITED
STATES WOOD BASED PANEL MARKET FORECAST & PROSPECTS
5.1.1.2.
CANADA
5.1.1.2.1.
CANADA
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: NORTH AMERICA 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: NORTH AMERICA WOOD BASED PANEL MARKET, BY
PRODUCT TYPE, 2024-2032 (IN $ BILLION)
TABLE 6: NORTH AMERICA WOOD BASED PANEL MARKET, BY
APPLICATION, 2024-2032 (IN $ BILLION)
TABLE 7: NORTH AMERICA WOOD BASED PANEL MARKET, BY
FURNITURE, 2024-2032 (IN $ BILLION)
TABLE 8: NORTH AMERICA WOOD BASED PANEL MARKET, BY
CONSTRUCTION, 2024-2032 (IN $ BILLION)
TABLE 9: NORTH AMERICA 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: NORTH AMERICA WOOD BASED PANEL MARKET, BY
PRODUCT TYPE, 2023 & 2032 (IN %)
FIGURE 5: NORTH AMERICA WOOD BASED PANEL MARKET, BY
MEDIUM DENSITY FIBERBOARD (MDF)/ HIGH DENSITY FIBERBOARD (HDF), 2024-2032 (IN $
BILLION)
FIGURE 6: NORTH AMERICA WOOD BASED PANEL MARKET, BY
PARTICLEBOARD, 2024-2032 (IN $ BILLION)
FIGURE 7: NORTH AMERICA WOOD BASED PANEL MARKET, BY
ORIENTED STRAND BOARD (OSB), 2024-2032 (IN $ BILLION)
FIGURE 8: NORTH AMERICA WOOD BASED PANEL MARKET, BY
PLYWOOD, 2024-2032 (IN $ BILLION)
FIGURE 9: NORTH AMERICA WOOD BASED PANEL MARKET, BY
OTHER PRODUCT TYPES, 2024-2032 (IN $ BILLION)
FIGURE 10: NORTH AMERICA WOOD BASED PANEL MARKET, BY
APPLICATION, 2023 & 2032 (IN %)
FIGURE 11: NORTH AMERICA WOOD BASED PANEL MARKET, BY
FURNITURE, 2024-2032 (IN $ BILLION)
FIGURE 12: NORTH AMERICA WOOD BASED PANEL MARKET, BY
RESIDENTIAL BUILDING, 2024-2032 (IN $ BILLION)
FIGURE 13: NORTH AMERICA WOOD BASED PANEL MARKET, BY
COMMERCIAL BUILDING, 2024-2032 (IN $ BILLION)
FIGURE 14: NORTH AMERICA WOOD BASED PANEL MARKET, BY
CONSTRUCTION, 2024-2032 (IN $ BILLION)
FIGURE 15: NORTH AMERICA WOOD BASED PANEL MARKET, BY
FLOOR AND ROOF, 2024-2032 (IN $ BILLION)
FIGURE 16: NORTH AMERICA WOOD BASED PANEL MARKET, BY
WALL, 2024-2032 (IN $ BILLION)
FIGURE 17: NORTH AMERICA WOOD BASED PANEL MARKET, BY
DOOR, 2024-2032 (IN $ BILLION)
FIGURE 18: NORTH AMERICA WOOD BASED PANEL MARKET, BY
OTHER CONSTRUCTIONS, 2024-2032 (IN $ BILLION)
FIGURE 19: NORTH AMERICA WOOD BASED PANEL MARKET, BY
PACKAGING, 2024-2032 (IN $ BILLION)
FIGURE 20: NORTH AMERICA WOOD BASED PANEL MARKET, BY
OTHER APPLICATIONS, 2024-2032 (IN $ BILLION)
FIGURE 21: NORTH AMERICA WOOD BASED PANEL MARKET, BY
COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE 22: UNITED STATES WOOD BASED PANEL MARKET
2024-2032 (IN $ BILLION)
FIGURE 23: CANADA WOOD BASED PANEL MARKET 2024-2032
(IN $ BILLION)