The ‘Global Plywood Market Size, Share Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global plywood market, assessing the market on the basis of its segments like sector, end use, and region.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Plywood Market Share, Size, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5%
Over the coming years, the global plywood market growth is projected to be positively impacted by a sharp increase in construction and development activities. Rising infrastructure development investments, and increased demand for plywood goods for medical and healthcare facilities are also expected to support the demand for plywood.
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Global furniture sales are increasing as a result of renewed interest of consumers in home improvement and their increased purchasing power. Many types of flatpack furniture are seeing an increase in sales due to their portability, affordability, great flexibility, and customisability, which is a major driver of the global plywood market expansion.
Additionally, the market is expanding due to a significant increase in demand for sustainable materials around the world. Consumers are becoming more aware of their carbon footprint and green construction is becoming more popular and commonplace because it is less harmful and less damaging to both humans and the environment.
The market for plywood is also growing as a result of the strong demand for plywood and robust production capabilities in developing nations where labour is inexpensive and raw materials are readily available. The Asia Pacific region accounts for a sizable share in the market, supported by India and China, because of their expanding populations and rising disposable incomes.
Plywood Industry Definition and Major Segments
Plywood is a type of engineered wood that is created from numerous thin layers of veneered wood. The wood grains of the adjacent layers that have been turned at a right angle serve as glue to bind the layers together. Plywood has many benefits, including flexibility, reusability, high strength, ease of installation, and resistance to fire, chemicals, and moisture. As a result, it is used in many different applications, including flooring, doors, furniture, roofing, inner walls, and exterior cladding.
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Based on sector, the market is segmented into:
• New Construction
On the basis of end use, the market is bifurcated into:
Based on region, the market is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Plywood Market Trends
A major trend that is favourably affecting the plywood market is the increasing adoption of interior designing and aesthetically appealing furnishings in both residential and commercial sectors. Plywood’s strength and great durability make it suited for many applications, including shipbuilding, furniture, packaging containers, flooring, and walls. Further, the growing use of plywood in the maritime sector for the production of ship cabinets, boats, vessel floors, and docks is bolstering the global market for plywood.
The cost-effectiveness of plywood in comparison to raw wood, which makes it more popular with customers, is driving the global plywood market. The market is further expanding due to the rising demand for ready-made, lightweight, and simple-to-install furniture. Plywood is increasingly being used to construct kitchen cabinets and bathroom floors to stop moisture, which is assisting in the market’s expansion. Also, the do-it-yourself (DIY) and flat-pack furniture trends are driving the market growth for plywood.
Key Market Players
The major players in the global plywood market report are:
- Georgia-Pacific LLC
- PotlatchDeltic Corporation
- Weyerhaeuser Company
- Boise Cascade
- UPM-Kymmene Corporation
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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