Differentiation of product performance is the direction for upgrading future wood-based panel products.
- Industry development characteristics
(1) Industry Regionality
From the supply side perspective, due to the strong dependence of wood-based panel enterprises on the stable supply of wood raw materials and the fact that wood raw materials have a certain economic transportation radius, wood-based panel enterprises generally choose to build factories as close as possible to the origin of raw materials or centralized supply areas to reduce transportation costs. As a result, domestic wood-based panel production has shown a clear regional concentration feature. At present, the advantageous provinces and regions for the production of wood-based panels in China are mainly Shandong, Jiangsu, Guangxi, Anhui, Hebei, etc., with a production proportion of about 75%.
Secondly, due to the certain economic transportation radius of finished board products, as well as the influence of various factors such as climate and consumption habits, various regions have a certain preference for the wood raw material tree species used in board production. There is also a clear regional segmentation phenomenon in the board consumption market, with many regional brands and fewer enterprises able to layout production capacity nationwide, Therefore, leading brand enterprises mainly rely on third-party production capacity to cover market demand in multiple regions, fully utilizing local production capacity to improve efficiency, reduce costs, and quickly seize market share.
(2) Industry seasonality
Overall, the sales of artificial boards and customized home furnishings are more related to the seasonality of commercial housing transactions and home decoration. Generally speaking, the first quarter of each year is affected by the Spring Festival holiday, and commercial housing transactions and home decoration are relatively low seasons. Therefore, the sales of the artificial board industry in the first quarter are relatively low, while in other seasons, they are relatively stable. The seasonality of the industry is not obvious, but overall, the sales in the second half of the year are slightly higher than in the first half of the year.
(3) Industry periodicity
The downstream industries of the wood-based panel industry are mainly furniture manufacturing, building decoration, flooring and other industries. The prosperity of the above industries is closely related to the real estate industry, resulting in the wood-based panel industry being significantly affected by the macro business cycle and the real estate industry cycle, showing a certain cyclicality.
