West Fraser, Weyerhaeuser Company, and Canfor are Dominating the Global Wood Based Panel Market in 2020

Global Wood Based Panel Market is expected to grow with the CAGR of 12.7% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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Global wood based panel market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global wood based panel market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio.

For instance,

  • In 2021 February, Weyerhaeuser Company announced an agreement to purchase 69,200 acres of high-quality Alabama timberlands from Soterra. The company purchased these timberlands for approximately USD 149.00 million. Through this, the company will enhance their timberland operations and will expand their base of customers and future export opportunities.

West Fraser is the dominating player in global wood based panel market. The other key players existing in the market includes EGGER Group, West Fraser, Kastamonu Entegre, Georgia-Pacific, ARAUCO, CANFOR, Weyerhaeuser Company, Dongwha Group, Binderholz GmbH, Kronoplus Limited, DARE, Boise Cascade, Starbank Panel Products Ltd, SONAE Arauco, EVERGREEN FIBERBOARD BERHAD, MIECO CHIPBOARD BERHAD, GREEN RIVER HOLDING CO., LTD., PFEIFER GRUPP, Timber Products.

Wood Based Panel Market West Fraser

West Fraser is headquartered in British Columbia, Canada and was founded in 1955. The company produces lumber, engineered wood (OSB, LVL, MDF, plywood, particleboard) and other products including pulp, newsprint, wood chips and renewable energy. The company have wide product categories such as Building with Wood, Sales Hub, Lumber, UK/European Products, OSB North America, Panels, LVL, Pulp & Paper, Bio products out of which focused product category is Panels.

For instance

  • In November 2020, West Fraser acquired Norbord, creating a Diversified Global Wood Products Leader. This acquisition has increased the credibility of the company in the market and thus will help the company in diversifying its business.

The company has presence in North America. In addition, company also generates revenue through the subsidiary such as West Fraser Mills Ltd. (British Columbia), Blue Ridge Lumber Inc. (Alberta), Sundre Forest Products Inc. (Alberta), Manning Forest Products Ltd. (Alberta), West Fraser, Inc. (Delaware) among others.

Weyerhaeuser Company

Weyerhaeuser Company is headquartered in Washington, U.S. and was founded in 1990. The company is engaged in manufacturing and providing wood products for recreation, conservation and economic development. The company offers wide range of product categories such as Timber Construction, Recreation, Land, Wood Products and Energy under which Timber Construction is market focused category.

For instance

  • In February 2016, Weyerhaeuser Company announced merger with Plum Creek Timber Company, Inc. The combined company retains the Weyerhaeuser name and owns more than 13 million acres of diverse and productive timberlands and operates 38 wood products manufacturing facilities across the U.S. This has helped the company to grow in the market.

The company has presence in North America. The company have subsidiaries which are De Queen and Eastern Railroad (Arkansas), Weyerhaeuser NR Co (U.S.), Texas, Oklahoma and Eastern Railroad (U.S.), Weyerhaeuser Real Estate Company (U.S.), among others.

Canfor

Canfor is headquartered in British Columbia, Canada as public ownership. The company is engaged in manufacturing and providing lumber products for residential, commercial and industrial construction. The company has product category which are Solid Wood, Pulp & Paper and Energy out of which Solid Wood is market focused category.

For instance

  • In June 2016, Canfor invested approximately USD 160.00 million to build a sawmill near DeRidder, Louisiana. This new saw mill will have manufacturing capacity and flexibility to produce varieties of high value wood products. This will help the company to enhance their operating footprint and production capacity to grow in the market.

The company has wide global presence in Americas, Europe and Asia-Pacific. The company have subsidiaries which are Canadian Forest Products Ltd. (Canada), ANTHONY FOREST PRODUCTS COMPANY, LLC (U.S.), Vida AB (Sweden), Scotch & Gulf Lumber LLC (U.S.), Canfor USA Corporation (U.S.), among others.