Introduction of the Saudi Arabia Wood Based Panel Market Report

Wood based panels refer to the sheet materials that are made by binding significant amount of wood including fibres, veneers, chips, strands and other wood derivatives, together with wood adhesives using heat and pressure. The wood based panels includes plywood, particleboards, oriented strand boards, fibre building boards, and hardboards among others. Wood-based panels helps in improving the comprehensive utilization rate of wood raw materials, reduce the consumption of forest resources and meet the environmental protection requirements of the society.

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Market Dynamic

Key Drivers and Emerging Trends

Rapid urbanization, growing population, surging demand for green buildings, and increasing investments in residential and commercial construction activities are some of the major factors expected to drive the growth of the wood based panel market in Saudi Arabia. In addition, increasing demand in of wood based panel in furniture owing to the stability against temperature, air humidity, and deformation and availability in several colours and novel styles.

Moreover, the Vision 2030 programme of Saudi Arabia is for the development of public service sectors including health, education, infrastructure, recreation, and tourism. This is expected to boost the construction industry, thereby supporting the growth of the wood based panel in Saudi Arabia.

Restraint in the Saudi Arabia Wood Based Panel Market

However, variability and high cost of raw materials and the rising concerns related to the dust, total organic carbon, and formaldehyde emission during manufacturing of wood based panels are anticipated to hamper the growth to market over the forecast period. In addition, the use of synthetic adhesives including urea-formaldehyde and phenol-formaldehyde resins that can be harmful to humans may further hamper the market growth.

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Wood panels can be categorized as structural and non-structural.  Structural panels are mainly used in houses, buildings, concrete formwork, shipping containers and unit load platforms owing to their high mechanical properties of resisting forces. On the other hand, non-structural panels have high strength and stiffness owing to which they are used in making furniture, flooring, and doors.

The wood based panel are primarily used for furniture, construction, and packaging applications. The rising number of residential homes, high preference for traditional furniture for bedrooms and living rooms, increasing demand for Ready-to-Assemble (RTA) furniture products are the factors expected to propel the demand for the wood based panel products over the forecast period. Various benefits of the wood based panel products including good dimensional stability, low cost manufacturing, simple processing and installation technology may further support the market growth.

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The wood based panel products are available in flat, curved, and sheets. These are available in various types including medium density fiberboard, high density fiberboard, oriented strand board, particleboard, softboard, plywood, and others. The particleboard products are expected to account for a huge demand over the forecast period primarily due to its lower cost than medium density fibreboard, good nail holding force due to cross and scattered structure, and good lateral bearing capacity. Also, the plywood is increasingly adopted for various applications owing to its cost-effectiveness at covering large areas and high resistance against splitting, cracking and warping, and dimensional stability during moisture change.

The Neom City, The Red Sea Project, Qiddiya entertainment city, Amaala, Jean Nouvel’s Sharaan resort in Al-Ula, Makkah Grand Mosque – Third Expansion, Jeddah Tower, Ministry of Housing’s Sakani homes, Jabal Omar, Al Widyan, Riyadh Metro, Riyadh Rapid Bus Transit System, King Fahd Medical City Expansion, and King Abdullah Bin Abdulaziz Medical Complexes among other major projects in Saudi Arabia is expected to augment the demand of wood based panel over the forecast period.

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Key questions answered in this research report:

• • At what pace is Saudi Arabia Wood Based Panel Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Saudi Arabia Wood Based Panel Market? What will be the impact of drivers and restraints in the future?
  • What are the various areas of Saudi Arabia Wood Based Panel Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?