The wood-based panels production in the UK has shown notable fluctuations over the past decade. Starting at 3.03 million cubic meters in 2013, the production saw marginal increases and occasional declines, with significant dips in 2016 and 2020. However, recovery was evident, particularly with a substantial 18.09% increase in 2021 after the pandemic-induced decline in 2020. The year 2023 recorded a value of 3.41 million cubic meters, marking a 2.1% year-on-year increase from 2022. Over the past five years, production has grown at an average annual rate (CAGR) of 2.05%.
Future trends from 2024 onwards indicate a steady growth, with a forecasted 5-year CAGR of 1.48%, leading to an estimated 3.74 million cubic meters by 2028, implying a 7.62% increase over the period. Key trends to watch include the impacts of economic recovery post-COVID-19, potential sustainability initiatives influencing production processes, and shifts in demand driven by technological advancements and market preferences.
