A wood based panel is a general term for a variety of different board products, which have an impressive range of engineering properties. Wood based panels are primarily used in construction, packaging, and shipping. Wood based panels can be classified into different product segments such as softwood plywood, particle-board and medium density fiber board, decorative hardwood plywood and veneer (under 6mm thick), waferboard and other structural composite boards, insulation board and hardboard.
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Growing deforestation leading to global warming has spurred the demand for efficient timber utilization, in turn driving the global wood based panels market. Technological advancements and increased efficiency in manufacturing of wood based panels is expected to bolster the demand for wood based panels. On the other hand, rapid increases in the cost of petroleum-based fuels and products continue to escalate the production and marketing costs of wood-based panel products, in turn hindering its growth.
Anticipated changes in incorporating newer definitions of structural-use panels by American Plywood Association is expected to bolster the demand for wood based panels in North America as well as South America. Rapid industrialization and modernization in infrastructure in developing economies of Asia Pacific is expected to be a key market driver for wood based panel industry over the forecast period.
Some of the key manufacturers of wood based panel include Caihong Wood Co. Ltd, Lin Shi Tong Wood Co. Ltd., d.i.v.a Aluminum products, Qingdao Nianlun Wood Processing Co. Ltd., Changzhou Hengyi Wood Products Co. ltd., Donghwa Enterprise Co. ltd., Daregroup, Mainland Trading Company, and Linyi Guangsha Wood Industry Co. Ltd. among others.
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