24 | Focus on North America: Composite Panel Association
NORTH AMERICA MARKET TRENDS
North American panel shipments have been on a downward trend this year due to a
continued market slowdown. But the Composite Panel Association (CPA) which took part in this Q&A with WBPI, is optimistic for improvements in 2026
WOOD BASED PANELS INTERNATIONAL: WHAT IS THE CURRENT STATE OF THE NORTH AMERICAN COMPOSITE WOOD PANELS MARKET? Composite Panel Association: North American composite panel consumption has been on a downward trend this year compared to 2024. Given the continued slowdown across the sector, CPA is forecasting year-end shipments to decline to levels similar to 2023. CPA remains optimistic that industry shipments will improve in 2026 though it’s uncertain what impact tariffs will have on US markets.
WBPI: HOW HAS THE NORTH AMERICAN ECONOMY AND IMPORTANT HOME BUILDING AND REMODELLING MARKETS FARED IN 2025 AND WHAT ARE THE EXPECTATIONS GOING FORWARD? CPA: The construction outlook remains weak in the near term as economic uncertainty and tariffs drive up material costs. With the highest US tariff rates in decades, smaller homebuilders face mounting pressure, leading to higher housing costs and slower development. Housing starts are expected to dip in 2025 before recovering modestly in 2026. However, lingering inflation concerns, delayed mortgage rate cuts, and continued affordability challenges suggest the rebound will be slower than previously anticipated. The remodelling and renovation market is
showing modest growth after a long period of stagnation, supported by pent-up demand that has been constrained by high interest rates. Activity is expected to rise gradually through 2026 and 2027 as borrowing costs improve, though growth will likely remain below pre-pandemic trends.
Top: Kronospan’s panel mill in Oxford, Alabama Above: Product stacked at a Weyerhaeuser panel mill
WBPI | October/November 2025 |
www.wbpionline.com
WBPI: WHAT HAVE BEEN THE CAPACITY TRENDS AND INVESTMENT DEVELOPMENTS IN THE SECTOR? CPA: This graph illustrates a 10-year trend in North American production capacity, highlighting a steady six-year decline since reaching its most recent peak in 2019 following the addition of new facilities.
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