North America Particle Board Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Particle Board Market Analysis
The North American particle board market is projected to register a CAGR of over 4% during the forecast period. Particle board usage by the construction industry decreased as a result of the pandemic on account of the restriction of construction activities and government-imposed lockdown. But as things recovered in 2021, the expansion of the building sector boosted the market's demand for particle boards.
- The growing demand for furniture in the hospitality and office space has augmented the demand for particles board.
- However, the use of medium-density fiberboard as a replacement is projected to hinder the market's expansion.
- Nevertheless, future market growth is anticipated to be aided by the development of innovative particle board manufacturing techniques.
- The United States is anticipated to lead the North American region in terms of revenue during the forecast period.
North America Particle Board Market Trends
This section covers the major market trends shaping the North America Particle Board Market according to our research experts:
Growing Demand from the Construction Industry
- In the construction industry, particle boards are used for flooring, walls, staircases, etc. Compared to plywood, particle boards are less expensive, lighter, more environmentally friendly, and better for insulating buildings.
- The need for particle boards in new construction is anticipated to increase as the construction sector grows. The region's market is anticipated to be driven by the rising new construction demand in the United States, Canada, and Mexico.
- Due to cheaper land transportation costs and a duty-free trade agreement, Mexico is the major exporter of building materials to the United States. In recent years, panel-based construction has become more prevalent in Mexico as builders abandon conventional brick and concrete construction. Although, particle board is utilized for paneling, molding, and flooring in interior design.
- The value of the Mexican construction industry was USD 88.14 billion in 2021 and will be USD 96.77 billion by the end of 2022, according to the International Trade study.
- The residential and commercial construction sectors in Canada are experiencing high demand. By the end of 2022, it is anticipated that spending on new residential development will exceed USD 177 billion, compared to USD 164.59 billion in 2021, according to Statistics Canada. Similarly, it is anticipated that the spending on non-residential buildings will be USD 62 billion by the end of 2022, compared to USD 56.42 billion in 2021.
- Market expansion would be aided by the rising government investment and the rising demand for construction projects. For instance, the World Bank estimates that by the end of 2022, Mexico will construct 28,864 public housing units for low-income families. The Canadian government announced a USD 200 million budget for 2022 that will create 6,000 affordable homes.
- Overall, it is anticipated that the market for particle board is expected to be driven throughout the projected period by the expanding construction industry across all regions.
United States is Anticipated to Hold a Major Share
- The United States is the biggest economy in the world, and the region's demand for particle board is being driven by the exponential growth of the furniture and building sectors. In the building sector, particle boards are used for stairways, walls, and flooring, among other things.
- Every year, the United States spends more than USD 1 trillion on new buildings. 1,526,000 new residential housing permits were issued, and construction investment reached USD 1,811.1 billion in August 2022, up by 10% from August 2021, according to the US Census data from the fourth quarter of 2022.
- Interior design ideas for homes, offices, and apartments are always evolving in the furniture market. In terms of designs, sizes, and colors, this is essentially driving innovation and progress. The volume of furniture production is expected to rise as a result. The US furniture and retail sales reached USD 48.23 billion in the third quarter of 2022, according to the Federal Reserve Bank of St. Louis.
- Additionally, according to the FRED economic data, the US furniture market will be one of the largest in the world in 2021 with a projected value of USD 323 billion. In 2021, consumers spent an average of USD 2,701 per year on equipment and furniture for their homes.
- Considering all the above-mentioned factors, the demand for particle boards in the United States is anticipated to grow during the forecast period.
North America Particle Board Industry Overview
The North American particle board market is partially fragmented in nature. Some of the major players in the market include Amerhart, Arauco, Cornerstone Specialty Wood Products LLC, Collins Products, Egger Wood Products LLC, and others.
North America Particle Board Market Leaders
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Kronospan LLC
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Roseburg Forest Products
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Egger Wood Products LLC
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Uniboard
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Arauco
*Disclaimer: Major Players sorted in no particular order
North America Particle Board Market News
- September 2022: Koskisen, a Finnish wood industry company, announced to use Stora Enso's bio-based binder, NeoLigno, which will replace fossil-based resins used in furniture boards. This will enhance Koskisen's product portfolio.
- June 2022: Uniboard announced the Val-d'Or plant's new particleboard line, which is a cutting-edge particleboard press. It was unveiled by Uniboard with a USD 250 million investment. After the new particle board line is integrated into the current facility by 2025, Uniboard's production of particle board is anticipated to rise dramatically
North America Particle Board Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Growing Demand from the Construction Industry
- 4.1.2 Easy Availability of Raw Materials
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4.2 Restraints
- 4.2.1 Threat of Medium-density Fiberboard as a Substitute
- 4.3 Industry Value Chain Analysis
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 By Raw Material
- 5.1.1 Wood
- 5.1.1.1 Sawdust
- 5.1.1.2 Shavings
- 5.1.1.3 Flakes
- 5.1.1.4 Chips
- 5.1.2 Bagasse
- 5.1.3 Other Raw Materials
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5.2 By Application
- 5.2.1 Construction
- 5.2.2 Furniture
- 5.2.3 Infrastructure
- 5.2.4 Other Applications
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5.3 By Geography
- 5.3.1 United States
- 5.3.2 Canada
- 5.3.3 Mexico
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by the Leading Players
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6.4 Company Profiles
- 6.4.1 Amerhart
- 6.4.2 Arauco
- 6.4.3 Cornerstone Specialty Wood Products LLC
- 6.4.4 Collins Products
- 6.4.5 Egger Wood Products LLC
- 6.4.6 Forestral Terranova Mexico SA de CC (MASISA)
- 6.4.7 GP Wood Products Inc.
- 6.4.8 Kronospan LLC
- 6.4.9 Maderas Conglomeradas SA DE CV (MACOSA)
- 6.4.10 Masonite Corporation
- 6.4.11 Panolam Industries International Inc.
- 6.4.12 Plummer Forest Products
- 6.4.13 Roseburg Forest Products
- 6.4.14 Tafisa Canada Inc.
- 6.4.15 Timber Products Company
- 6.4.16 Uniboard
- 6.4.17 Woodgrain Composites
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Development of New Methods to Manufacture Particle Boards
North America Particle Board Industry Segmentation
Particle board, also known as fiberboard, is an engineered product created by combining residual lumber with a binder and applying high pressure and heat. The particle board market is segmented by raw material, application, and geography. By raw material, the market is segmented into wood, bagasse, and other raw materials. By application, the market is segmented into construction, furniture, infrastructure, and other applications. By geography, the market is segmented into the United States, Canada, and Mexico. The report covers the market size and forecasts for three countries across the region. For each segment, the market sizing and forecasts have been provided on the basis of value (USD million).
| By Raw Material | Wood | Sawdust |
| Shavings | ||
| Flakes | ||
| Chips | ||
| By Raw Material | Bagasse | |
| Other Raw Materials | ||
| By Application | Construction | |
| Furniture | ||
| Infrastructure | ||
| Other Applications | ||
| By Geography | United States | |
| Canada | ||
| Mexico |
North America Particle Board Market Research FAQs
What is the current North America Particle Board Market size?
The North America Particle Board Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in North America Particle Board Market?
Kronospan LLC , Roseburg Forest Products , Egger Wood Products LLC , Uniboard and Arauco are the major companies operating in the North America Particle Board Market.
What years does this North America Particle Board Market cover?
The report covers the North America Particle Board Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Particle Board Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Particle Board Industry Report
Statistics for the 2024 North America Particle Board market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Particle Board analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
