The historical data of wood-based panel production in the US shows fluctuations over the last decade, reaching 33.255 million cubic meters in 2023. Between 2013 and 2017, production grew consistently, peaking in 2017 at 36.201 million cubic meters. However, from 2018 onwards, production saw a downward trend, reflecting a decline in market demand and potential economic factors. The two most recent years mirrored this overall trend, with slight decreases: -1.34% in 2022 and -0.096% in 2023.
Looking ahead, the forecast for wood-based panel production suggests continued minimal decline through 2028, with an average decrease per year of 0.08%, indicating a forecasted contraction of 0.4% overall. Future trends to watch include the impact of sustainability initiatives, changes in timber supply, advancements in panel technology, and potential economic volatility that might influence building and construction demands.
