UNITED STATES WOOD BASED PANEL MARKET FORECAST 2024-2032

Moreover, the presence of major players with well-established manufacturing hubs in the United States has significantly fueled the market’s growth. These established companies can efficiently mass produce wood based panels, meeting the ever-increasing demand effectively. The recovery of the United States housing market in 2021 and the first half of 2022 has played a pivotal role in driving the wood based panel market. The construction industry’s resurgence has led to record forest product prices, labor shortages, and product unavailability, influencing new construction. This boost in residential construction, including a 37% increase in single-family expenditures, has positively impacted the wood based panel market, given their common use in construction projects. Within the broader wood products sector, structural and non-structural panels have emerged as the fastest-growing segments, partly attributed to engineered structural wood products.

The United States wood based panel market is segmented into product type and application. The product type segment includes medium density fiberboard (MDF)/high density fiberboard (HDF), particleboard, oriented strand board (OSB), plywood, and other product types. Medium density fiberboard (MDF) and high density fiberboard (HDF) have emerged as pivotal materials in the construction and furniture sectors, presenting viable alternatives to conventional wood. MDF, formed by breaking down softwood into fibers and combining them with synthetic resins, offers uniformity in size, shape, and strength, making it a favored choice in furniture manufacturing and various interior applications. On the other hand, HDF, manufactured under high heat and pressure, excels in non-load-bearing interior applications, providing a smooth and stable surface finish for underlayment, door skins, and backing panels. Recent investments, such as Century Plyboards’ plan to expand MDF manufacturing capacity, underscore the industry’s response to growing demand.

Rising demand for particleboards to manufacture furniture units and roofing in the construction sector is expected to boost the growth of the wood based panel market. As it is less expensive than its competitors, such as plywood, it can replace those products. Its density and homogeneity, when compared to plywood and conventional wood products, should boost demand for it. Particleboards are available in different grades and are highly sought after for a variety of uses, such as flooring, roofing, furniture, and insulation. 

Some of the top companies operating in the United States wood based panel market include Weyerhaeuser Company, Louisiana-Pacific Corporation, Georgia-Pacific LLC, etc.

Georgia-Pacific LLC, headquartered in Atlanta, Georgia, United States, is a subsidiary of Koch Industries and manufactures tissue, pulp, paper, absorbent food pads, napkins, tray covers, surgical drapes, building goods, packaging, and related chemicals in the US. The company sells bath tissues under the Quilted Northern brand, paper towels under the Brawny brand, and cups and dinnerware under the Dixie name. 

It provides gypsum panels, engineered lumber products, and other building materials to the residential and commercial construction industries. Additionally, the fields of aircraft, mining, and facilities management use its products. Under several brands, including ActiveAire, Angelsoft, Brawny Professional, Compact, Dixie, Dixie Ultra, enMotion, and Pacific Blue, Georgia-Pacific sells its products.