July 10, 2018
WELLESLEY, Mass., July 10, 2018, – As a result of national and state government support for affordable housing, tax waivers and subsidies offered to construction companies, global markets for reconstituted wood products are on the rise.
With rapid population growth and urbanization in emerging markets, reconstituted wood product manufacturing is expected to grow at a compound annual growth rate (CAGR) of 5.6% to nearly $147.0 billion by 2022, according to the BCC Research report Reconstituted Wood Products Manufacturing: Global Markets to 2022.
By segment, significant growth is forecast for medium density fiberboard (MDF) and hardboard products, which accounted for the largest share of the reconstituted wood products market in 2017 at $55.4 billion. The highest growth is also projected to come from MDF. Such growth results from rapid urbanization in emerging markets, government investments in affordable housing, and technological advances, such as automation and robotics.
Major players mentioned in this report include, Georgia-Pacific LLC, Louisiana-Pacific Corporation, Norbord Inc, Roseburg Forest Products Co and Weyerhaeuser Company, among many others.
“Governments and private organization in many developing countries are making large investments in infrastructure and housing to boost their economy and provide affordable housing to the poor and middle-class population,” the report notes. “Construction of buildings, healthcare centers and educational institutions is expected to drive the demand for reconstituted wood products. For instance, spending on construction in China is expected to increase 7.8% annually in real terms through 2019, this is expected to increase the demand for reconstituted wood products such as medium density fiberboard and oriented strand board.”
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Reconstituted Wood Products Manufacturing: Global Markets to 2022( MFG056A )
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