New York, July 04, 2023 (GLOBE NEWSWIRE) -- According to the research report “Global Appearance Boards Market” published by Consegic Business Intelligence, the market was worth USD 17,721.03 Million in 2022 and is anticipated to reach over USD 28,061.14 Million by the year 2030, growing at a CAGR of 6.1%.
Appearance boards, also termed as finish boards or select boards, refer to flat, rectangular building material, widely employed in the construction industry. Additionally, appearance boards are mainly used as a component in floors, walls, and ceilings. Moreover, appearance boards are available in a variety of wood species including pine, cedar, oak, maple, and others, to allow different aesthetic options. Furthermore, appearance boards are of varying lengths, widths, and thicknesses, and are deployed for various applications including interior and exterior trim, furniture, cabinetry, and decorative woodworking projects.
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The increasing demand of appearance boards for various construction and renovation activities to enhance the overall aesthetic appeal of space serves as a major factor for driving the growth of the market. Additionally, the rising demand for materials made from recycled or renewable sources to provide improved aesthetics and performance to solid wood is also contributing significantly in driving the market growth. Moreover, the presence of key players that constantly apply innovations and strategic decisions to expand the market portfolio is also contributing remarkably in accelerating the market position. For instance, in September 2022, ARAUCO’s Board of Directors invested USD 235 Million for constructing a new production line of MDF boards in Mexico. The project involves an investment of approximately USD 235 Million to meet the increasing demand of MDF from the construction and furniture sector in Mexico.
Moreover, the innovations in material including advanced coatings, stains, or protective layers to provide improved resistance to scratches, UV damage, and staining is expected to create opportunities for the growth of the appearance boards market. However, the presence of alternatives including PVC (polyvinyl chloride) trim and composite boards to offer enhanced durability at low prices is restraining the market growth.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 28,061.14 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 6.1% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Action TESA, Alexandria Moulding, Inc., Boise Cascade Company, Builders Choice Pvt Ltd, Claymar Construction, LLC, Kastamonu Entegre, Mendocino Redwood Company, Norbord Inc., PotlatchDeltic Corporation, Roseburg Forest Products Co., Stora Enso Oyj, Tom’s Quality Millwork Inc, UPM-Kymmene Oyj, Welldonewood |
| By Type | Particle Board, Block Board, Plywood, Medium Density Fiber Board, and Others |
| By Application | Commercial and Residential |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Appearance Boards Market Growth Drivers:
- Increasing demand of appearance boards for various construction and renovation activities is propelling the market growth
- Growing focus on sustainability and eco-friendly appearance board materials to minimize waste is bolstering the market growth.
- The increasing adoption of appearance boards in the residential sector owing to the high strength, dimensional stability, and antiviral properties is driving the market growth.
Restraints
- Presence of alternatives including PVC (polyvinyl chloride) trim and composite boards to offer enhanced durability at low prices is restraining the market growth.
- Limited availability of sustainable wood sources leading to supply shortages and increased costs is hampering the growth of the appearance boards market.
Opportunities
- Innovations in material including advanced coatings, stains, or protective layers to provide improved resistance to scratches, UV damage, and staining is expected to create opportunities for market growth.
Global Appearance Boards Market Segmentation Details:
Based on Type, the plywood segment contributed the largest shares to the market growth in 2022 owing to the exceptional strength and durability offered by plywood. Additionally, plywood is constructed by bonding multiple layers of wood veneers with alternating grain directions, resulting in a strong and stable panel. The structural integrity is ideal for a wide range of applications, including construction, furniture, cabinetry, and flooring, thus contributing remarkably in accelerating the market growth.
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Based on Application, the residential segment offers substantial shares to the global appearance boards market in the year 2022. The growth is attributed to the increasing adoption of plywood and MDF for wall paneling to enhance the aesthetic appeal of interior spaces in homes. Additionally, appearance boards create a warm and inviting atmosphere, add texture or patterns to walls, and function as a backdrop for artwork or furniture. Furthermore, improvements in material including anti-bacterial coating and zero emission plywood to offer a healthy and emission-free interior of the home also contribute remarkably in accelerating the growth of the residential segment.
Based on region, Asia Pacific has been a major contributor to the growth of the appearance boards market owing to the increasing demand for plywood and particle board in residential construction due to the cost-effectiveness and versatility. Additionally, the expanding manufacturing sector is also contributing significantly in driving the growth of the appearance boards market. Asia Pacific countries have a significant presence of appearance board manufacturers, skilled labor, and the availability of manufacturing infrastructure that are collectively responsible in propelling the market growth.
Key Market Highlights
- Globally, appearance boards are divided based on the type into particle board, block board, plywood, medium density fiber board, and others.
- The application segment is classified into commercial and residential.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on advancements in appearance boards.
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List of Major Global Appearance Boards Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- Action TESA
- Alexandria Moulding, Inc.
- Boise Cascade Company
- Builders Choice Pvt Ltd
- Claymar Construction, LLC
- Kastamonu Entegre
- Mendocino Redwood Company
- Norbord Inc.
- PotlatchDeltic Corporation
- Roseburg Forest Products Co.
- Stora Enso Oyj
- Tom’s Quality Millwork Inc
- UPM-Kymmene Oyj
- Welldonewood
Global Appearance Boards Market Segmentation:
- By Type
- Particle Board
- Block Board
- Plywood
- Medium Density Fiber Board
- Others
- By Application
- Commercial
- Residential
Recent Development:-
- In September 2022, PotlatchDeltic successfully completed the merger with CatchMark Timber Trust, Inc. to offer high-quality timberland to the users and also to expand the appearance boards portfolio in the United States.
- In April 2021, Arctic Astronautics, UPM Plywood, and Huld collectively launched a wooden satellite, WISA WOODSAT to gather information on the behavior and durability of plywood in vacuum, harsh temperatures, and radiation of space.
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Key Questions Covered in the Appearance boards Market Report
- What will be the potential market valuation for the appearance boards market by 2030?
- The market valuation for the appearance boards industry is expected to be approximately USD 28,061.14 Million by 2030 owing to the Increasing demand of appearance boards for various construction and renovation activities.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the appearance boards market's growth in the coming years?
- North America is expected to witness the fastest CAGR during the forecast period owing to the increasing demand of appearance boards for wall paneling, cabinetry, flooring, and other decorative applications.
- What specific segmentation details are covered in the appearance boards market report, and how is the dominating segment impacting the market growth?
- Plywood dominates the market owing to its exceptional strength and durability. Additionally, plywood is constructed by bonding multiple layers of wood veneers with alternating grain directions, resulting in a strong and stable panel.
- What specific segmentation details are covered in the appearance boards market report, and how is the fastest segment anticipated to impact the market growth?
- The commercial segment is anticipated to register the fastest CAGR due to the increasing adoption of appearance boards in retail and hospitality spaces to create visually appealing interiors. Appearance boards are utilized for wall cladding, storefronts, display fixtures, and custom millwork, enhancing the overall ambiance and aesthetics of the space.
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