Europe and US Markets for Wood-Based Panels to Lag Behind in Global Race, Forecasts Timetric18 Jan 2013 • by Natalie Aster
The global wood-based panel market valued US$80.1 billion in 2011, of which the Asia-Pacific market accounted for a 39.9% share and was the largest wood-based panel regional market. In the same year, it was followed by the European and North American markets, both of which managed to retain their respective positions as the second- and third-largest markets despite the impact of the global financial crisis. Moreover, continuing market uncertainty in Europe and sluggish growth in the US are expected to reduce the market share of both markets over the forecast period, with the Asia-Pacific market expected to gain at their expense due to rapidly increasing demand from continually expanding economies such as China and India. According to the new report “Global Wood-Based Panels – Market Opportunity and Environment, Analyses and Forecasts to 2016” by Timetric, the share of the European wood-based panel market is likely to fall from 34.0% in 2011 to 28.9% in 2016, and projects that the share of the North American market will fall from 18.3% in 2011 to 14.8% in 2016.
Market set to rebound in line with global economic recovery
The report states that the value of the global wood-based panel market recorded a CAGR of 0.95% during the review period, a moderate growth rate that was largely due to a 14.7% decline in market value and negligible demand in 2009 following the dramatic impact of the global financial crisis on the global construction industry. Over the forecast period, Timetric expects the value of the global wood-based panel market to record a CAGR of 7.08%, growth that is anticipated to be driven by the general growth of the global construction industry, and worldwide economic recovery following an easing of the eurozone sovereign debt crisis.
Global Wood-Based Panels – Market Opportunity and Environment, Analyses and Forecasts to 2016
Published: October, 2012
Price: US$ 4,800.00
Plywood is anticipated to drive the market
Within the global wood-based panel market, plywood was the largest category during the review period, with a value of US$23.5 billion and a 29.4% share of the global market in 2011. It was followed by medium-density fiberboard (MDF), with a 23.5% share; and veneered panels, with a 14.8% share. Over the forecast period, the six categories within the global wood-based panel market are expected to record varying CAGRs of 4.00%–13.00% due to their differing applications and demand in the construction industry.
More information can be found in the report “Global Wood-Based Panels – Market Opportunity and Environment, Analyses and Forecasts to 2016” by Timetric.
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