$12.0bn
$X.Xbn
16,782
411
$X.Xbn
Wood panelling manufacturers supply plywood, veneer, medium-density fibreboard, oriented strand board (OSB) and particleboard. These products are primarily used in residential and commercial construction. While domestic construction markets are a significant source of industry demand, a notable portion of the industry's revenue stems from exports to the United States. As a result, industry performance is closely tied to the health of the housing markets in Canada and the United States. A boom in spending on housing renovation and construction during 2020 and 2021 raised industry revenue, but as spending dropped in response to higher interest rates in 2022, revenue experienced a decline. Overall, revenue has grown at a CAGR of 5.9% to $12.0 billion, reflecting a net increase over the period as a whole. Revenue is expected to fall 0.2% in 2024 as buyer markets weaken.
Industry revenue has grown at a CAGR of 5.9 % over the past five years, to reach an estimated $12.0bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
West Fraser | 1,733.1 | 130.7 | 7.5 | |
LP | 770.9 | 122.0 | 15.8 | |
Weyerhaeuser | 331.4 | 47.1 | 14.2 |
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Wood Panelling Manufacturing in Canada
Industry revenue is measured across several distinct product and services lines, including Hardwood veneer and plywood, Softwood veneer and plywood and Structural wood products. Hardwood veneer and plywood is the largest segment of the Wood Panelling Manufacturing in Canada.
Waferboard is used widely in home construction
The Wood Panelling Manufacturing industry in Canada manufactures veneer or plywood, engineered wood or reconstituted wood products. The industry does not include companies that primarily engage in sawmilling or wood preservation, nor does it include companies that primarily produce dimensions stock.
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NAICS 3212 - Wood Panelling Manufacturing in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
In 2024, revenue is projected to decline due to a downturn in construction spending. Higher interest rates and inflation are mainly to blame. Export conditions, supply chain ...
Learn about an industry's products and services, markets and trends in international trade.
Canada's wood panelling industry primarily exports to the U.S., catering to both residential and commercial construction. While there's been a slight decline in the residenti...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Quebec leads Canada's wood panelling industry with the most establishments. These companies focus on making structural wood products, including laminated veneer lumber, plywo...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
The wood panelling manufacturing industry faces moderate competition due to many companies offering similar products. Price and quality are primary competitive factors. Altho...
Learn about the performance of the top companies in the industry.
Louisiana-Pacific Corporation, based in Tennessee, sold several wood-based production plants to streamline operations. This strategic divestment from the engineered wood prod...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The wood panelling industry's revenue is influenced by the residential housing market and trade conditions. Economic factors, timber supply issues due to wildfires and pests,...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Purchases like wood fibre, resin, and wax are the highest cost for wood panelling manufacturers. Despite rising lumber prices, they've managed to offset increased expenses by...
Including values and annual change:
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Key data sources in Canada include:
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These sources include:
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The market size of the Wood Panelling Manufacturing industry in Canada is $12.0bn in 2024.
There are 411 businesses in the Wood Panelling Manufacturing industry in Canada, which has declined at a CAGR of 2.5 % between 2019 and 2024.
The market size of the Wood Panelling Manufacturing industry in Canada has been growing at a CAGR of 5.9 % between 2019 and 2024.
Over the next five years, the Wood Panelling Manufacturing industry in Canada is expected to grow.
The biggest companies operating in the Wood Panelling Manufacturing market in Canada are West Fraser, LP and Weyerhaeuser
Plywood manufacturing and Reconstituted wood products manufacturing (including sheets and boards) are part of the Wood Panelling Manufacturing industry.
The company holding the most market share in Canada is West Fraser.
The level of competition is moderate and increasing in the Wood Panelling Manufacturing industry in Canada.