MENA Wood Based Panel Market Archives - Decision Market Insights

Wood-based panels are engineered wood products made by using adhesives to bind wood veneers, fibres, or particles under pressure and heat. These panels are made of medium-density fibreboard (MDF), particleboard, plywood, and orientated strand board (OSB). Because of their consistency, adaptability, and economical use of wood resources, they are extensively utilised in interior design, furniture production, and building. Wood-based panels are a sustainable substitute for solid wood because of their superior strength-to-weight ratios and dimensional stability. Additives and surface treatments can improve their qualities, such as their resistance to moisture and ease of machining, to meet the needs of certain applications across a range of sectors. Furthermore, improvements in manufacturing methods have made these products more environmentally friendly and durable.

According to SPER Market Research, ‘Middle East and Africa Wood Based Panel Market Size– By Product, By Thickness, By Distribution Channel, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ states that Middle East and Africa Wood Based Panel Market is estimated to reach USD 6.07 billion by 2034 with CAGR of 4.06%.

As consumer spending on wood-based panels for furniture and home renovations increases, so too is the need for wood-based panels in residential and commercial buildings. The improvement and increase in building rehabilitation projects that utilise wood-based panels to enhance aesthetics is another factor driving the market’s growth. Wood-based panels are specialised goods that offer improved durability, long-term performance, and increased performance at a lower cost of production and use. A wide range of structural and aesthetic uses are possible using wood-based panels. Wood-based panels are becoming more and more popular in residential construction because to their better performance, affordability, and versatility in design. Additionally, the market is expanding due to nations’ balanced import and export policies for wood panels.

Despite the fact that the production process varies from product to product, wood-based panels share some characteristics with regard to the main environmental concerns. The primary growing concerns during the production of wood panel goods that are producing health and environmental issues include formaldehyde, dust, and organic compound emissions. Price fluctuations for raw materials will have an impact on the cost of producing goods made from wood-based panels. A manufacturer’s position in the market might be seriously jeopardised by highly variable raw material costs and poor price management. Manufacturers now have the ability to set the price of their products due to fluctuations in raw material prices, which causes them to lose money.

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Due to shipping limitations, supply chain disruptions, and workplace closures, Covid-19 had an effect on a number of manufacturing businesses. Over the past few years, the market has seen a decline in sales as a result of the lockdown, which has caused retail locations to close and customer access to be restricted. In an effort to recover from COVID-19, the major market participants are taking a variety of calculated risks. To enhance their products, the players are engaged in a number of R&D initiatives. By investigating various retail channels and entering new markets, they are increasing their market share.

Saudi Arabia dominates the Middle East and Africa wood based panel market due to rising consumer spending on wood-based panels for furniture and home renovations in the region. Some of the key players are – EGGER, Starbank Panel Products Ltd, Dongwha Group, ARAUCO, Sonae Industria.

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Middle East and Africa Wood Based Panel Market Growth

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Because of their affordability and adaptability, wood-based panels, such as plywood, particleboard, and medium-density fiberboard (MDF), are frequently utilized for a variety of purposes. The wood fibers, chips, or veneers used to make these panels are fused together with adhesives under pressure and heat. Wood-based panels are widely used in furniture production, interior design, and both commercial and residential construction projects. The Middle East and Africa region has a consistent need for wood-based panels due to many factors like infrastructure development, urbanization, population increase, and a growing emphasis on environmentally friendly and sustainable building materials.

According to SPER market research, ‘Middle East and Africa Wood Based Panel Market Size – By Product , By Thickness , By Distribution Channel , By Application , By End-User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the MEA Wood Based Panel Market is predicted to reach USD 6.07 billion by 2033 with CAGR of 4.6%.

The demand for building and real estate projects is developing throughout the world due to disruptive megatrends and macroeconomic factors such growing urbanization, trade expansion, rising income levels among the population, technology, and sustainable surroundings. The construction of larger and more intricate structures is becoming more competitive for the wood products industry because to new technological advancements in EWPs and connections. Globally, the construction sector has grown to be a strong and productive manufacturing one. As a result, numerous initiatives have been launched to build sustainable, socially inclusive communities, since infrastructure development is the primary factor influencing any nation’s economic success.

The extreme unpredictability of raw materials presents numerous obstacles for producers of wood products. The increasing cost of materials is a result of the effects that each industrial processing step has on material utilization and cost efficiency. The most frequent problem faced by companies that produce wood goods is turning a profit while using high-cost, variable raw materials in a low-cost manufacturing process. Lack of some elements, such high product costs and high transportation costs, has made the supply chain ecology more unstable. Costs of raw materials that fluctuate a lot and poor price control might put a firm in serious jeopardy in the marketplace. The producers now have the ability to fix the cost of the product due to the fluctuation in raw material prices, which causes a loss for the makers.

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Impact of COVID-19 on Middle East and Africa Wood Based Panel Market

Like many other industries, the wood-based panel business experienced supply chain interruptions as a result of labour shortages, mobility restrictions, and lockdowns. Throughout the pandemic, the construction industry—a significant user of wood-based panels—saw slowdowns and project delays, which had an impact on the market for these goods. The demand for wood-based panels differed according to the use. Certain industries saw a fall in demand (like commercial construction), but other industries saw growth (like DIY projects and home improvements). To recuperate from the COVID-19 pandemic, the principal industry participants are executing several tactical initiatives. The players are working on several R&D projects to improve their products. To gain a larger portion of the market, they are expanding into new regions and researching other retail strategies.

Middle East and Africa Wood Based Panel Market Key Players

The building and furnishings industries are expanding significantly in the Middle East. Because of their expanding populations, rising rates of urbanization, and ongoing infrastructure projects, nations like South Africa, Nigeria, Kenya, and Ghana present favorable market prospects. Additionally, some of the market key players are EGGER, Starbank Panel Products Ltd, Dongwha Group, ARAUCO, Sonae Industria, Others.

MENA Wood Based Panel Market Segmentation:

The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.

By Product: Based on the Product, Middle East and Africa Wood Based Panel Market is segmented as; Plywood, Fiberboard, Oriented Strand Board, Cement-Bonded Particleboard, Lumber Panels, T-Beam Panels, Stress-Skin Panels, and Others.

By Thickness: Based on the Thickness, Middle East and Africa Wood Based Panel Market is segmented as; 9 MM, 10 MM, 18 MM, 20 MM, 40 MM, 50 MM, and Others.

By Distribution Channel: Based on the Distribution Channel, Middle East and Africa Wood Based Panel Market is segmented as; B2B, OEMS, Specialty Stores, E-Commerce, and Others.

By Application: Based on the Application, Middle East and Africa Wood Based Panel Market is segmented as; Outdoor Door, Window Trim, Ceiling Wall, Mantel, Floor, and Others.

By End-User: Based on the End-User, Middle East and Africa Wood Based Panel Market is segmented as; Residential Building, Commercial Building, Hotels, Vila, Hospitals, School, Malls, and Others.

By Region: This research also includes data for Egypt, Israel, Saudi Arabia, South Africa, U.A.E., Rest of Middle East and Africa.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report

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MENA Wood Based Panel Market Future Outlook

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