Wood panel products are curved or flat sheets manufactured using wood-based materials, which are bonded using synthetic or natural adhesives and cured using heat and pressure. Panels are generally made from strands, veneers, fibers, or particles of wood. The quality and properties of the panels are determined by the type of wood material, adhesive, and additive utilized during the manufacturing process. Moreover, flooring wood panels are available in different formats namely, particle board, plywood, oriented strand board, and fiberboard. Moreover, wood floorings are available in different formats, such as solid hardwood, laminate, bamboo, engineered hardwood, cork, and bamboo. Hardwood is generally obtained from oak, maple, hickory, walnut, and other trees, whereas, engineered wood panels do not require any specific type of wood for manufacturing. Further, the relatively new laminate floors are also an inexpensive type of flooring wood panels. Laminate wood flooring is produced by covering a particleboard wood base with a transparent wear layer and an image layer, which enhances the aesthetics of the end product. In addition, it is highly scratch resistant, easy to clean, and most importantly inexpensive. Furthermore, wood flooring offers various advantages such as lower maintenance & better hygiene, greater durability, as well as wooden flooring is also more appealing when compared with linoleum, tile, or other flooring options.
COVID-19 scenario analysis:
The rise in number of COVID-19 infection globally has created a demand for medical supplies on a high scale. The pneumonic virus was declared as a global pandemic in March 2020; although until then, various countries were already affected by the deadly virus and caused a serious health threat globally. Moreover, the halted supply chains, and prolonged lockdowns have affected the industrial trade and value chains globally. In addition, the construction industry also experienced significant decline in growth mainly owing to the halt and delay in construction projects. This also affected the demand for flooring wood panels. Moreover, the overall prices of wood also witnessed a significant rise during the pandemic owing to the decrease in demand for wooden products, which is likely to impact the growth of the flooring wood panels market.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The major factors such as superior properties such as durability, better aesthetics, skid proof texture, and strength are anticipated to propel the demand for flooring wood panels. Furthermore, rise in investments in commercial and residential construction activities globally is expected to boost the demand for flooring wood panels. Moreover, surge in the public-private partnerships for the development of the construction sector in developing economies such as India, China, and Saudi Arabia are expected to support the market growth during the forecast period.
Rise in the number of product lines
The growth in the number of product lines in the industries would help the industry flourish during the forecast period. For instance, in 2017, Dongwha Enterprise based in Vietnam, held a ceremony to launch its second production line at the VRG Dongwha factory located in Binh Phuoc Province, Vietnam for the manufacturing of medium density fiberboard (MDF). The first production line started its operations in May 2012 and produces 300,000 cubic meters of MDF for application in furniture manufacturing. It also has Asia’s longest press machine with 47 meters of length. Such investments toward the development of new production sites for wood panel manufacturing drive the growth of flooring wood panels market.
Surge in number of mergers and acquisitions
Moreover, rise in number of acquisitions and mergers is expected to drive the industry growth during the forecast period. For instance, in April 2019, CanWel Building Materials Group Ltd. acquired Lignum Forest Products LLP, a leading forestry and lumber producer based in the U.S. and Canada. The acquisition has enhanced CalWel’s distribution capabilities in North America and increased its consumer base of new and potential customers, with the addition of a large network of inventory locations owned by Lignum.
Key benefits of the report:
- This study presents the analytical depiction of the global flooring wood panels industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global flooring wood panels market share.
- The current market is quantitatively analyzed to highlight the global flooring wood panels market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global flooring wood panels market analysis based on competitive intensity and how the competition will take shape in coming years.
Flooring Wood Panels Market Report Highlights
Key Market Players
Klenk Holz GmbH, Dongwha Malaysia Holdings Sdn. Bhd., ARAUCO, Georgia-Pacific, SGS Industrial Services, Kronospan Limited, Dare Panel Group Co., Ltd., Kastamonu Entegre, Norbord Inc,, Canfor, Sonae Industria SGPA, S.A.