Surging Demand in Furniture and Construction Drives United Kingdom Veneered Panels Industry Growth to US$ 495.5 million by 2033

United Kingdom Veneered Panels Market

According to Future Market Insights (FMI), the United Kingdom veneered panel industry size is forecast to expand from US$ 276.7 million in 2023 to US$ 495.5 million by 2033. Total sales of veneered panels across the United Kingdom are projected to rise at 6.0% CAGR from 2023 to 2033.

The rising usage of veneered panels across thriving construction, automotive, and furniture sectors is a prominent factor driving the United Kingdom market.

Similarly, developing new and innovative veneered panel products will act as a catalyst to trigger sales in the United Kingdom market.

Veneered panels with enhanced fire-resistant properties are becoming increasingly sought after in industries where fire safety is a priority, such as construction and interior design. These panels can help minimize the spread of flames and reduce the risk of fire-related damage, thereby driving demand for such products.

The construction and interior design industries are subject to stringent safety and compliance regulations. Veneered panels that meet these requirements, particularly in terms of durability and fire resistance, are in high demand.

Customers and businesses prioritize products that comply with safety standards, further boosting the market demand.

The development of new and innovative veneered panels with improved durability and fire-resistant properties meets the increasing demand for safer, longer-lasting, and aesthetically pleasing materials. These factors contribute to the growth of the veneered panel market.

Request Your Sample Report and Supercharge Your Business Strategy!

Key Takeaways from the United Kingdom Veneered Panel Market Study

  • The United Kingdom veneered panels market is forecast to thrive at 6.0% CAGR through 2033.
  • By product type, particle board veneered panels segment is expected to create an incremental $ opportunity of about US$ 94.5 million between 2023 and 2033.
  • By end user, the construction segment is set to progress at 4% CAGR while the furniture segment will dominate the market with a valuation of US$ 201.6 million by 2033.
  • England is expected to collectively hold around 4% of the overall market share.
  • Veneered panel demand in Scotland is projected to increase at 8% CAGR.

“Consistently growing demand for construction and renovation activities can provide significant opportunities for the veneered panel market across the United Kingdom. Durability and fire-resistance are the key properties of this product driving such high demand in housing and interior-work processes.” – says a lead analyst at Future Market Insights (FMI)

Who is Winning?

The veneered panels market in the United Kingdom is characterized by fragmentation, with a moderate level of activity from a limited number of key players. These key participants hold approximately 30% to 35% of the market share. There is a presence of small and medium-sized players who are actively driving the market and competing with larger, established companies.

Top veneered panel manufacturers such as

  • Greenlam Industries Ltd.
  • Veneer Technologies Inc.
  • James Latham
  • Triesse Ltd.
  • Timbmet
  • Decospan Group
  • Griffiths & Hood Ltd.
  • Read Veneers
  • Reliance Veneer Co Ltd
  • Hanson Plywood Ltd
  • UV Plc

Manufacturers can invest in research and development to introduce innovative products and solutions. This can include developing new veneer finishes, textures, and patterns, or introducing environmentally friendly options.

Innovative products can attract customers, differentiate the manufacturer from competitors, and open up new market opportunities.

Manufacturers can also consider producing complementary products such as edge banding, veneer sheets, or pre-finished components. Diversification allows manufacturers to serve different market segments and cater to various customer needs.

Similarly, companies are employing merger & acquisition strategies to strengthen their presence across the United Kingdom. For instance,

  • In 2021, IJK Timber Group was acquired by James Latham. The acquisition is aimed at increasing the company’s panel product and timber offering in Northern Ireland.

Get in Touch with Our Sales Team to Secure Your Copy of the Report Now!

More Insights into the United Kingdom Veneered Panel Market Report:

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the United Kingdom veneered panel market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the United Kingdom’s market potential, growth, and scope, the market is segmented based on product type, end use, and region.

United Kingdom Veneered Panels Market Segmentation

By Product Type:

  • Plywood
  • MDF
  • Particle Board
  • Blockboard
  • Laminated
  • Decorative

By End Use:

  • Construction Industry
    • Wall Cladding
    • Ceiling
    • Doors
    • Decorative Panels
    • Others
  • Marine Industry
    • Boat Interiors
    • Yacht Interiors
    • Others
  • Automotive Industry
    • Dashboards
    • Door Panels
    • Others
  • Furniture Industry

By Region:

  • England
  • Scotland
  • Wales
  • Northern Ireland

Trending Topics:

Furfuryl Alcohol Market
Soil Stabilization Material Market
Decorative Plastic and Paper Laminates Market

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries:
LinkedInTwitterBlogs | YouTube

About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these