The production of wood-based panels in South Korea amounted to 2.74 million cubic meters in 2023. Over the last two years, the year-on-year growth was 1.08%. Analyzing data from 2019 to 2023, the CAGR (Compound Annual Growth Rate) was -0.88%, showing a slight decline. Looking ahead, forecasts from 2024 to 2028 indicate a 5-year CAGR of 0.79%, suggesting modest recovery with overall growth of 4% by 2028.

Future trends to watch for include:

Technological advancements potentially enhancing production efficiency and output.
Shifts in global supply chains impacting raw material availability and costs.
Changes in domestic construction and furniture manufacturing demand in South Korea.
Environmental regulations and sustainability trends influencing production processes.