According to IMARC Group’s latest report, titled “Plywood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” the global plywood market size reached US$ 43.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 59.1 Billion by 2027, exhibiting a CAGR of 5.24% during 2022-2027.
Plywood refers to an engineered wood which is produced from various layers of thin wood veneer. These layers are glued together using wood grains of adjacent layers that are rotated at a 90O angle. On account of several advantages such as reusability, flexibility, high strength, easy installation as well as resistance to moisture, chemical and fire, plywood finds extensive application in roofing, flooring, furniture, doors, interior walls and external cladding. Moreover, plywood is also used as a substitute of other wood boards owing its enhanced quality and strength.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Plywood Market Drivers/Constraints:
- A surge in the global construction activities coupled with expanding furniture industry has led to an increase in the use of plywood, particularly in building homes as well as commercial buildings, and renovating their floorings, walls and ceilings.
- A special grade plywood is used in the marine industry in order to endure occasional exposure to humidity and water for resisting against a fungal attack. In the industry, plywood is used for constructing walls, seats, stringers, floors, boat cabinetry, etc.
- In comparison with a raw wood, plywood acts as a low-cost substitute owing to which it is rampantly used by the consumers. Additionally, the go-green strategy of plywood manufacturers acts as another significant factor which is bolstering the growth of the global plywood market.
- Nonetheless, plywood comprises of several thin veneers which makes it hard to cut without splintering. Further, plywood should not be exposed to moisture in the air as it becomes prone to damage.
Competitive Landscape With Key Players:
The competitive landscape of the market is characterized by the presence of numerous small and large manufacturers. Some of the leading players are:
- Georgia-Pacific LLC
- PotlatchDeltic Corporation
- Weyerhaeuser Company Ltd.
- Boise Cascade Company
- UPM-Kymmene Oyj
- SVEZA Forest Ltd.
- Metsä Wood (Metsäliitto Cooperative)
- Latvijas Finieris AS
- Austral Plywoods Pty Ltd.
- Eksons Corporation Berhad (BHD)
Key Market Segmentation:
Breakup by Residential and Commercial Application:
- Residential
- Commercial
Breakup by New Construction and Replacement Sector:
- New Construction
- Replacement
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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