GCC Wood-Based Panel Market

A wood-based panel is a sheet material that contains a significant proportion of wood in various forms such as strips, strands, veneers, chips, and fibers. It is a generic term used for different board products that have an impressive range of engineering properties. Wood-based panels are primarily used in packaging, construction, and shipping. The wood-based panel comprises of medium-density fiberboard, high density fiberboard, particleboard, oriented strand board (OSB), softboard, hardboard, and plywood in the market.

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The key factors driving the growth of the GCC wood-based panel market include increasing investment in residential and commercial construction activities, rising number of upcoming megaprojects such as NEOM and Saudi Vision 2030, and the growing demand for wood-based panel products from the construction industry across the GCC countries. Moreover, the wood-based panel provides multiple superior properties including strength, low cost, lightweight and durability will further increase the demand for wood-based panel in GCC. Technological innovation, coupled with the increased efficiency in repair, manufacturing, and renovation activities will boost the growth of the global wood-based panel market. However, the fluctuations in raw material prices and inconsistency in the supply chain may hamper the growth of the GCC wood-based panel market in the upcoming years.

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Based on the product type, the Medium density fiberboard (MDF) segment is anticipated to grow at a higher CAGR over the forecast period. The MDF type is considered a better alternative to traditional wood which is a major factor that is driving the growth of the market. Moreover, the increasing demand for products in furniture, cabinetry, manufacturing, flooring, among others will boost the medium density fiberboard type in the GCC wood-based panel market. On the other hand, the Oriented strand board (OSB) segment is expected to lead the market during the forecast period. They are built by using rectangular-shaped wood strands and offer improved performance as compared to the plywood type in the GCC wood-based panel market. In addition to this, oriented strand board are used in commercial and residential construction activities and widely used for exterior walls, subflooring, roof decking, and others that will further enhance the growth of the oriented strand board type segment in the GCC wood-based panel market.

Based on the application, the construction segment is projected to grow at a faster CAGR in the GCC wood-based panel market due to the rising investments in the construction of new commercial spaces. The wood-based panel is also used in the packaging application as the consumers are shifting towards environment-friendly packaging materials, along with the increasing demand from the food & beverage packaging industry. On the other hand, the furniture segment is expected to lead the market owing to the increasing consumer spending on different wood-based furniture products and growing preference for traditional furniture for living rooms and bedrooms among consumers.

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Based on the countries, the GCC wood-based panel market is segmented into UAE, Saudi Arabia, Oman, Kuwait, and the rest of GCC. The growing public-private partnerships for the development of the construction industry in Saudi Arabia is expected to drive the growth of the GCC wood-based panel market during the forecast period. For instance, Saudi Arabia invested USD 23 billion in four urban development projects in Riyadh, which include King Salman Park, Green Riyadh, Sports Boulevard, and Riyadh Art. Moreover, rapid industrialization and modernization in infrastructure in GCC countries will further boost the GCC wood-based panel market during the forecast period.

Various notable players operating in the market include Dongwha Malaysia Holdings Sdn. Bhd., Egger Group, Arauco,    Weyerhaeuser, Pfeifer Group, Atlas Commercial Company (Kuwait) W.L.L., Alkayan Decor, Al Nooh Wood Design, United Wood Products, Inc., and Alphaboard, among others.

The GCC wood-based panel market has been segmented on the basis of product type, application, and countries. Based on product type, the market is segmented into medium density fiberboard, high density fiberboard, particleboard, oriented strand board, softboard, hardboard and plywood. Based on application, the market is segmented into hard coated and soft coated. Based on application, the market is segmented into furniture, construction and packaging. Based on construction, the market is segmented into windows & doors, flooring & decking, siding and others. Based on countries, the market is segmented into UAE, Saudi Arabia, Oman, Kuwait, and the Rest of GCC.

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Key questions answered in this research report:

• • At what pace is GCC wood-based panel market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in wood-based panel market? What will be the impact of drivers and restraints in the future?
  • What are the various application areas of GCC wood-based panel market and how they are poised to grow?
  • Which Product Type generated maximum revenues in 2019 and identify the most promising Product Type during the forecast period?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

GCC Wood-Based Panel Market by Product Type

• • Medium Density Fiberboard (MDF)
  • High Density Fiberboard (HDF)
  • Particleboard
  • Oriented Strand Board (OSB)
  • Softboard
  • Hardboard
  • Plywood

GCC Wood-Based Panel Market by Application

• • Furniture
  • Construction
  • Windows & Doors
  • Flooring & Decking
  • Siding
  • Others
  • Packaging

    GCC Wood-Based Panel Market by Countries

• • UAE Wood-Based Panel Market All-Up (Option 1: Free 25% Customization)
  • Saudi Arabia Wood-Based Panel Market All-Up (Option 2: Free 25% Customization)
  • Oman Wood-Based Panel Market All-Up (Option 3: Free 25% Customization)
  • Kuwait Wood-Based Panel Market All-Up (Option 4: Free 25% Customization)
  • Rest of GCC Wood-Based Panel Market All-Up (Option 5: Free 25% Customization)

GCC Wood-Based Panel Leading market players (Option 6: As a part of free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Dongwha Malaysia Holdings Sdn. Bhd.
  • Egger Group
  • Arauco
  • Weyerhaeuser
  • Pfeifer Group
  • Atlas Commercial Company (Kuwait) W.L.L.
  • Al Nooh Wood Design
  • Alkayan Décor
  • United Wood Products Co. (UWP)
  • Alphaboard