2014-02-19 22:25:04 - Veneer Sheet & Wood-Based Panel Manufacturing in the UK - Industry Market Research Report - a new market research report on companiesandmarkets.com
The United Kingdom veneer sheet manufacturing market and wood-based panel manufacturing industry contributes about half the value and volume of veneer sheet and wood-based panel products consumed in the United Kingdom. The balance is mainly made up by particle board and medium-density fibreboard (MDF) imported from Germany, Belgium and France.
In 2013-14, industry revenue is estimated to reach Â£900 million, down by 3.7% on the previous year. Over the five years through 2013-14, it is expected to decline at a compound annual rate of 1.5%. The recession-induced collapse of investment in the housing and commercial building markets during the late 2000s, along with the downturn in household and business spending on furniture products, contributed to a sharp decline in wood panel
The value of imports is expected to increase by 2.0% per annum over the five-year period, so that it now satisfies 52.4% of domestic demand, but this represents growth from a deep cyclical trough in 2008-09. Even now, total imports are substantially below the levels recorded in the mid-2000s. In 2013-14, industry firms are estimated to earn Â£117.3 million of their revenue from exports. This equates to 13% of total industry revenue.
This industry comprises 130 establishments employing about 4,100 people. There is a handful of large-scale wood-based panel manufacturers, and many small-scale manufacturers of veneer and plyboard products and specialist wood panels like moulded architectural profiles.
The three largest players are all foreignowned and currently contribute about 63% of industry revenue. These include the Austria-based firms Egger (UK) Limited and Kronospan Limited, and Norbord Limited, which is the subsidiary of a Canadian firm. The Portugal-based Sonae Industria left the industry in September 2012 after fire damage to its Knowsley plant in Merseyside.
Improved demand conditions in the downstream construction and furniture manufacturing markets will underpin a cyclical recovery in industry revenue over the five years through 2018-19. Revenue is projected to expand at a compound annual rate of 3.0% over the five-year period and reach Â£1.0 billion. This performance will roughly match the pace of GDP growth and the projected improvements in the value of building construction.
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