Decorative Wood Panel Demand to Remain Flat Through 2024
CLEVELAND, April 4, 2022 /PRNewswire/ — A new Freedonia Group evaluation forecasts need for ornamental wooden panels to continue to be all-around 4.4 billion sq. ft, as calculated on a 3/8-inch foundation, by means of 2024, limited by:
a moderation in new household building, as quite a few goods that use ornamental panels – these kinds of as cupboards and siding – are mounted all through the building system
a drop in professional making construction in the early element of the forecast time period, as losses will not be recovered even just after the marketplace begins to rebound
declining use of ornamental wood panels in siding and doors
Preventing declines in ornamental wood panel need will be an increase in their use in complete flooring applications as well as sustained demand for cabinets. Both marketplaces will profit in the limited phrase from unpredicted progress in residential design, whilst end flooring is expected to offer you more time phrase gains because of to ongoing structure tendencies favoring use of hard floor flooring.
Surprising Interest in Residential Development Sustains Decorative Wooden Panel Desire
Ornamental wood panel desire is concentrated in the residential current market, in which these merchandise are generally utilized in these kinds of apps as cupboards and complete flooring. Progress in the two residential remodeling and new household development in the 2nd 50 % of 2020 and into 2021 and 2022 assisted avoid losses for these goods all through the pandemic.
Whilst new dwelling building and household renovation spending are envisioned to regress back towards 2019 stages close to the conclusion of the forecast period of time, losses will be offset as the industrial marketplace commences to change all over from prolonged losses, especially amongst these buildings as offices, healthcare amenities, and universities and universities, which are intense buyers of attractive panels in cabinets and inside wall panels.
Want to Discover Much more?
Decorative Wooden Panels, now offered from The Freedonia Group, provides historical info (2009, 2014, 2018, and 2019) and forecasts for 2020, 2021, 2022, 2024 and 2029 for decorative wood panel need in existing US dollars (like inflation) and in square feet on a 3/8-inch foundation. Demand from customers is presented by products and programs.
hardboard (also termed substantial density fiberboard, or HDF)
medium density fiberboard (MDF)
reduced density fiberboard (softboard)
doorways and home windows
About the Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is the premier global industrial study corporation, delivering our clientele with item analyses, industry forecasts, marketplace trends, and marketplace share information. From 1-individual consulting companies to world wide conglomerates, our analysts present businesses with impartial, trustworthy marketplace marketplace research and investigation to aid them make vital enterprise selections. With more than 100 scientific studies published on a yearly basis, we help around 90% of the industrial Fortune 500 businesses. Obtain off-the-shelf reports at https://www.freedoniagroup.com/ or speak to us for personalized study: +1 440.842.2400.
Press Make contact with:
See primary content material to obtain multimedia:https://www.prnewswire.com/news-releases/attractive-wood-panel-demand from customers-to-keep on being-flat-as a result of-2024-301516985.html
Resource The Freedonia Team