Medium Density Fibreboard amp High Density Fibreboard

Medium Density Fibreboard and High Density Fibreboard Market Outlook

The global medium density fibreboard (MDF) and high density fibreboard (HDF) market is anticipated to reach a valuation of approximately USD 19.5 billion by 2035, growing at a compound annual growth rate (CAGR) of about 6.2% during the forecast period from 2025 to 2035. This growth is underpinned by the increasing demand for sustainable and eco-friendly building materials, the booming construction industry, and the rising popularity of modular furniture. Furthermore, advancements in manufacturing technologies have led to enhanced product performance and durability, which are critical factors driving market expansion. The rising consumer preference for customized furniture solutions, coupled with the growth in urbanization, is also propelling the demand for MDF and HDF products across various applications globally.

Growth Factor of the Market

The growth of the medium density fibreboard and high density fibreboard market is largely driven by several interrelated factors. Firstly, the rapid expansion of the construction and furniture industries globally is a significant catalyst for increased MDF and HDF consumption. As urbanization continues to rise, especially in developing regions, the need for affordable, versatile, and high-quality building materials has surged. Secondly, the increasing awareness regarding sustainable practices and materials among consumers and manufacturers alike is pushing the market towards more eco-friendly solutions. Additionally, innovations in MDF and HDF production processes, such as the use of recycled wood fibers and low-emission adhesives, enhance the appeal of these products to environmentally-conscious consumers. Moreover, the expansion of distribution channels, particularly online sales platforms, allows greater accessibility to these products for both consumers and businesses, further stimulating market growth. Lastly, the growing trend towards home improvement and DIY projects, which gained momentum during the COVID-19 pandemic, continues to drive demand for MDF and HDF products.

Key Highlights of the Market

• The global market for MDF and HDF is projected to reach USD 19.5 billion by 2035.
• CAGR of 6.2% is expected from 2025 to 2035.
• Urbanization and the construction industry's growth are primary demand drivers.
• Increased consumer preference for sustainable and eco-friendly materials.
• Expansion of online distribution channels has improved market accessibility.

By Product Type

Standard MDF:

Standard MDF is the most commonly used type of medium density fibreboard, known for its versatility and cost-effectiveness. Its uniform density and smooth surface make it an ideal material for applications ranging from furniture production to decorative items. Standard MDF is particularly favored in the furniture industry due to its ease of machining and finishing, which allows for intricate designs. Moreover, it can be easily painted or veneered, thus providing aesthetic flexibility to manufacturers and consumers alike. The growth in the furniture market, especially in regions with rising disposable incomes, is significantly boosting the demand for standard MDF, contributing to its market dominance.

Moisture Resistant MDF:

Moisture Resistant MDF is specifically engineered to withstand humidity and moisture, making it suitable for use in areas prone to dampness, such as kitchens and bathrooms. This type of MDF incorporates special additives that enhance its performance against moisture, which is a significant advantage over standard MDF. As the construction and home improvement sectors increasingly recognize the importance of durability and long-lasting materials, the demand for moisture-resistant options is steadily increasing. The growing trend of multifunctional living spaces where moisture-resistant materials are a necessity further drives the market for this product type.

Fire Retardant MDF:

Fire Retardant MDF is designed to resist burning and slow down the spread of fire, making it a crucial choice for applications in commercial buildings, public spaces, and areas requiring high safety standards. This specialized MDF type is treated with fire-retardant chemicals, ensuring compliance with stringent fire safety regulations in many regions. As safety becomes a critical concern in construction and interior design, particularly in urban environments, the demand for fire retardant MDF is expected to grow substantially. Its use in furniture and cabinetry in commercial settings further enhances its market attractiveness.

Exterior MDF:

Exterior MDF is tailored for outdoor use and is engineered to resist weathering, moisture, and UV exposure. Due to its robust properties, it is increasingly being used in the construction of outdoor furniture, garden structures, and decorative elements in landscaping. With the rise in outdoor living trends and the increasing investment in gardens and patios, the demand for exterior MDF has seen a marked increase. Its ability to mimic the appearance of natural wood while offering superior durability makes it a preferred material among consumers looking for long-lasting outdoor solutions.

Interior MDF:

Interior MDF is specifically designed for use in indoor applications, providing a smooth and aesthetically pleasing finish ideal for furniture, cabinetry, and decorative elements. Its versatility and ease of use allow for a wide range of design possibilities, making it a favorite among interior designers and furniture manufacturers. As the trend toward personalized and stylish interiors continues to grow, the demand for interior MDF is also expected to rise. This type of MDF is often favored for its sound-absorbing properties, which are essential in creating comfortable indoor environments.

By Application

Furniture:

The furniture industry is one of the largest consumers of medium density and high density fibreboard. MDF and HDF are extensively used in the production of various furniture items, including cabinets, tables, and chairs, due to their excellent machining and finishing characteristics. The ability to create intricate designs and surfaces that can be easily painted or veneered makes MDF an ideal choice for furniture manufacturers seeking a combination of quality and cost-effectiveness. Moreover, the rising trend of modular and customizable furniture solutions has further fueled the demand for MDF and HDF products, as these materials can be easily adapted to meet diverse consumer preferences.

Construction:

The construction sector has witnessed a significant uptake of MDF and HDF due to their applications in wall panels, flooring, and ceiling tiles. The lightweight nature of these materials allows for easy handling and installation, making them a preferred choice in both residential and commercial construction projects. Additionally, the increasing emphasis on sustainable construction practices has boosted the use of MDF and HDF, as they can be manufactured from recycled wood fibers and are often more environmentally friendly than traditional wood products. As the global construction market continues to expand, the demand for MDF and HDF in this sector is expected to grow correspondingly.

Flooring:

The flooring application segment has seen a steady rise in the use of MDF and HDF, particularly in engineered wood flooring products. These materials provide a stable substrate, reducing the risk of warping and enhancing durability. The aesthetic appeal of MDF and HDF, combined with their ease of installation, has made them popular choices for both residential and commercial flooring applications. The growing trend for eco-friendly flooring solutions is also contributing to the uptake of MDF and HDF, as consumers seek sustainable options that do not compromise on style or performance.

Packaging:

MDF and HDF are increasingly being utilized in the packaging industry for producing sturdy and lightweight packaging solutions. The strength and durability of these fibreboards make them suitable for creating custom packaging that can withstand transportation and handling. As e-commerce continues to grow, the demand for innovative and protective packaging solutions is rising, leading to increased usage of MDF and HDF in this sector. Moreover, the ability to customize MDF and HDF packaging according to the product specifications enhances their appeal to manufacturers looking for efficient and effective packaging options.

Others:

Beyond furniture, construction, flooring, and packaging, MDF and HDF are employed in a variety of other applications such as musical instruments, automotive interiors, and decorative wall panels. The unique properties of these materials lend themselves to creative and functional uses across diverse industries. As manufacturers continue to innovate and explore new applications for MDF and HDF, the potential for growth in this segment remains significant, driven by the ongoing demand for stylish and sustainable products.

By Distribution Channel

Online Stores:

The rise of e-commerce has transformed the distribution landscape for MDF and HDF products, with online stores emerging as a preferred shopping platform for many consumers and businesses. Online retailers offer an extensive range of MDF and HDF products, often with competitive pricing and convenient delivery options. The ability to compare products, read reviews, and access detailed specifications online enhances the shopping experience, leading to increased consumer confidence and higher sales. Additionally, the ongoing digitalization of the retail space and the growing trend of DIY projects have further accelerated the trend towards online purchasing of MDF and HDF materials.

Specialty Stores:

Specialty stores play a crucial role in the distribution of medium density and high density fibreboard products by providing a focused selection of materials and expert advice to customers. These stores often cater to professional contractors and craftsmen who require specific grades and types of MDF and HDF for their projects. The knowledgeable staff at specialty stores can offer valuable insights regarding product characteristics and applications, enhancing customer satisfaction and loyalty. As the demand for premium quality MDF and HDF products grows, specialty stores are likely to maintain their significance in the distribution channel landscape.

DIY Stores:

DIY (Do-It-Yourself) stores are a vital distribution channel for MDF and HDF, catering to homeowners and hobbyists undertaking renovation and furniture projects. These stores typically stock a wide variety of MDF and HDF products, along with tools and accessories needed for home improvement tasks. The popularity of DIY projects has surged in recent years, particularly during the pandemic, and this trend has led to increased foot traffic in DIY stores. The availability of ready-to-use MDF and HDF options appeals to consumers looking for convenient and cost-effective solutions for their home improvement needs.

Home Improvement Centers:

Home improvement centers serve as one-stop shops for consumers seeking a broad range of building materials, including MDF and HDF. These centers typically offer a diverse selection of products, catering to both professional contractors and DIY enthusiasts. The convenience of accessing various materials, tools, and resources under one roof enhances the shopping experience and encourages higher sales. As consumers increasingly invest in home renovations and improvements, the role of home improvement centers in the MDF and HDF distribution landscape is expected to grow, providing a reliable source for these essential materials.

Others:

This category encompasses various alternative distribution channels, such as wholesalers and distributors who play a significant role in supplying MDF and HDF to manufacturers, retailers, and construction companies. While not as prominent as the aforementioned channels, these intermediaries are essential in ensuring that the right products reach the market efficiently. The ongoing consolidation in the distribution sector and the focus on supply chain optimization are expected to enhance the effectiveness of these channels, thereby contributing to the overall growth of the MDF and HDF market.

By Ingredient Type

Wood Fibers:

Wood fibers form the primary ingredient in the production of medium density and high density fibreboards. They provide the necessary structure and strength to the boards, making them suitable for various applications. The sourcing of wood fibers from sustainably managed forests is becoming increasingly important, aligning with the global push towards eco-friendly practices. As manufacturers strive for sustainability, the use of reclaimed or recycled wood fibers is gaining traction. This trend not only supports environmental initiatives but also appeals to consumers who prioritize sustainable materials in their purchasing decisions.

Resins:

Resins are crucial binding agents used in the formulation of MDF and HDF, ensuring the integrity and durability of the finished products. Various types of resins are employed, including urea-formaldehyde, phenol-formaldehyde, and melamine-formaldehyde, each offering distinct properties suited to specific applications. As environmental regulations become more stringent, there is a growing demand for low-emission and formaldehyde-free resins in the production of MDF and HDF. The innovation and development of eco-friendly resin alternatives are key factors influencing the market, as manufacturers seek to balance performance with sustainability.

Wax:

Wax is often added to medium density and high density fibreboards to enhance moisture resistance and durability. Its inclusion improves the performance of MDF and HDF in environments where exposure to humidity and water is a concern. The growing awareness of the importance of moisture-resistant materials in various applications, such as flooring and kitchen furniture, is driving demand for wax-treated MDF and HDF products. Manufacturers are continuously innovating to improve the effectiveness of wax treatments, ensuring that these materials can withstand the challenges posed by varying environmental conditions.

Additives:

Additives play a significant role in enhancing the properties of MDF and HDF, including fire resistance, anti-fungal properties, and color retention. The use of specific additives allows manufacturers to customize their products to meet the unique requirements of different applications. As the demand for specialized MDF and HDF products grows, the market for additives is expected to expand concurrently. Moreover, the development of new additives that align with health and environmental standards is crucial for manufacturers aiming to maintain competitive advantage while adhering to regulatory requirements.

Others:

This category encompasses various other ingredients that may be utilized in the production of MDF and HDF, such as color pigments and fillers. While these ingredients may not dominate market share, they contribute to the overall functionality and aesthetic appeal of the finished products. The ability to customize the appearance and performance of MDF and HDF through the incorporation of diverse ingredients is increasingly appealing to manufacturers and consumers alike. As trends in design and sustainability evolve, the exploration of innovative ingredient combinations will likely shape the future of the MDF and HDF market.

By Region

The medium density fibreboard (MDF) and high density fibreboard (HDF) market is experiencing significant growth across various regions, driven by an array of factors including urbanization, industrialization, and increasing demand for sustainable building materials. In North America, the market is projected to reach USD 7 billion by 2035, growing at a CAGR of 5.5% from 2025 to 2035. This growth is primarily attributed to the booming construction industry, particularly in residential and commercial sectors, where the demand for high-quality MDF and HDF products is on the rise. The increasing focus on eco-friendly materials among builders and consumers is further propelling the market in this region.

In the Asia Pacific region, the MDF and HDF market is expected to outpace other regions, with a projected market size of USD 8 billion by 2035. The rapid urbanization and infrastructure development in countries like China and India are major drivers of this growth. As these nations continue to expand their urban landscapes, the demand for affordable and versatile building materials, such as MDF and HDF, is surging. Additionally, the increasing propensity of consumers towards home improvement and DIY projects is significantly contributing to the market expansion in this region. This trend is expected to foster a competitive landscape where manufacturers strive to offer innovative solutions tailored to the evolving needs of consumers.

Opportunities

The medium density fibreboard and high density fibreboard market is rife with opportunities as manufacturers and stakeholders seek to innovate and adapt to emerging trends. One significant opportunity lies in the growing demand for eco-friendly and sustainable materials. As consumers and regulatory bodies increasingly prioritize environmental considerations, there is a rising trend towards the use of recycled wood fibers and low-emission adhesives in MDF and HDF production. This shift not only aligns with global sustainability initiatives but also opens avenues for manufacturers to differentiate their products in a crowded marketplace. By investing in research and development to create sustainable alternatives, companies can position themselves as leaders in this growing segment, thereby capturing a larger share of the market.

Another promising opportunity is the expansion of distribution channels, particularly the rise of e-commerce platforms. The convenience and accessibility offered by online retail are revolutionizing how MDF and HDF products reach consumers. Manufacturers that embrace digital marketing strategies and online sales models can tap into a broader customer base, including DIY enthusiasts and small-scale contractors seeking quality materials. As the trend towards remote work and online shopping continues to grow, companies that effectively leverage digital platforms may gain a competitive advantage, driving sales and enhancing brand visibility. Furthermore, partnerships with logistics companies to ensure efficient delivery could also bolster market presence and customer satisfaction.

Threats

Despite the promising growth prospects for the MDF and HDF market, several threats could impede progress. One of the primary threats is the volatility in raw material prices, particularly wood fibers and resins, which are essential ingredients in the production of MDF and HDF. Fluctuations in prices can significantly affect production costs, leading to increased prices for end consumers and potentially slowing down market growth. Additionally, the availability of raw materials can be influenced by environmental regulations and deforestation issues, which may limit sourcing options for manufacturers. Companies must navigate these challenges carefully and develop strategies to mitigate the impact of raw material price volatility on their operations.

Furthermore, competition from alternative materials poses a significant threat to the MDF and HDF market. Products such as particleboard, plywood, and engineered wood products are increasingly being used as substitutes for MDF and HDF in various applications due to their cost-effectiveness and availability. As manufacturers continue to innovate and improve the performance characteristics of alternative materials, the pressure on MDF and HDF to maintain market share intensifies. Companies will need to focus on highlighting the unique benefits of MDF and HDF while continually enhancing product offerings to retain customer loyalty in this competitive landscape.

Competitor Outlook

• Georgia-Pacific LLC
• Kronospan Ltd.
• Roseburg Forest Products
• Louisiana-Pacific Corporation
• Masisa S.A.
• Evergreen MDF
• Finsa
• Arauco
• Uniboard
• Egger Group
• James Latham PLC
• Hexion Inc.
• Weyerhaeuser Company
• Panel Processing, Inc.
• Norbord Inc.

The competitive landscape of the medium density fibreboard and high density fibreboard market is characterized by a mix of established players and emerging companies striving to capture market share. Companies are increasingly investing in research and development to enhance product performance and sustainability. The focus on eco-friendly manufacturing processes and materials is becoming a critical differentiator in this competitive environment. Major players such as Georgia-Pacific LLC and Kronospan Ltd. are leading the charge with innovative solutions that position them as frontrunners in the industry. Their commitment to sustainability and quality has enabled them to build strong brand reputations and customer loyalty.

Furthermore, collaborations and partnerships are becoming a common strategy among competitors as they seek to expand their market presence. Companies like Louisana-Pacific Corporation and Roseburg Forest Products are forming strategic alliances to enhance their distribution capabilities and reach wider audiences. By leveraging each other's strengths and resources, these companies can quickly adapt to changing market dynamics while improving their operational efficiencies. As competition intensifies, such collaborations may prove essential for survival and growth in the MDF and HDF market.

In addition to traditional players, new entrants are also making significant inroads into the market. Firms like Evergreen MDF and Masisa S.A. are carving out niches by focusing on specific applications or regions. As these companies bring fresh perspectives and innovative products to the table, they challenge established players to rethink their strategies. The diversity of offerings in the market allows consumers to choose from a wide range of products that meet their specific needs, fostering a dynamic competitive environment. As the MDF and HDF market continues to evolve, the ability of companies to adapt and innovate will be critical in maintaining a competitive edge.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Finsa
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Arauco
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Uniboard
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Egger Group
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Hexion Inc.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Masisa S.A.
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Norbord Inc.
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Evergreen MDF
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Kronospan Ltd.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 James Latham PLC
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Georgia-Pacific LLC
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Weyerhaeuser Company
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Panel Processing, Inc.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Roseburg Forest Products
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Louisiana-Pacific Corporation
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Medium Density Fibreboard amp High Density Fibreboard Market, By Application
    • 6.1.1 Furniture
    • 6.1.2 Construction
    • 6.1.3 Flooring
    • 6.1.4 Packaging
    • 6.1.5 Others
  • 6.2 Medium Density Fibreboard amp High Density Fibreboard Market, By Product Type
    • 6.2.1 Standard MDF
    • 6.2.2 Moisture Resistant MDF
    • 6.2.3 Fire Retardant MDF
    • 6.2.4 Exterior MDF
    • 6.2.5 Interior MDF
  • 6.3 Medium Density Fibreboard amp High Density Fibreboard Market, By Ingredient Type
    • 6.3.1 Wood Fibers
    • 6.3.2 Resins
    • 6.3.3 Wax
    • 6.3.4 Additives
    • 6.3.5 Others
  • 6.4 Medium Density Fibreboard amp High Density Fibreboard Market, By Distribution Channel
    • 6.4.1 Online Stores
    • 6.4.2 Specialty Stores
    • 6.4.3 DIY Stores
    • 6.4.4 Home Improvement Centers
    • 6.4.5 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 Medium Density Fibreboard amp High Density Fibreboard Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Medium Density Fibreboard amp High Density Fibreboard market is categorized based on

By Product Type

• Standard MDF
• Moisture Resistant MDF
• Fire Retardant MDF
• Exterior MDF
• Interior MDF

By Application

• Furniture
• Construction
• Flooring
• Packaging
• Others

By Distribution Channel

• Online Stores
• Specialty Stores
• DIY Stores
• Home Improvement Centers
• Others

By Ingredient Type

• Wood Fibers
• Resins
• Wax
• Additives
• Others

By Region

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Georgia-Pacific LLC
• Kronospan Ltd.
• Roseburg Forest Products
• Louisiana-Pacific Corporation
• Masisa S.A.
• Evergreen MDF
• Finsa
• Arauco
• Uniboard
• Egger Group
• James Latham PLC
• Hexion Inc.
• Weyerhaeuser Company
• Panel Processing, Inc.
• Norbord Inc.