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 major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses 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, Price, 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%
With the growing construction activities around the world, there has been a surging demand for plywood as it is a more durable alternative to traditional wood. A key driver of the global plywood market is rapid urbanisation and the increasing switch to strong construction materials that can withstand incidences of moisture and rain. More consumers are also investing in plywood for decorative purposes owing to their rising disposable income and aesthetic preference. In order to fuel to the aesthetic demands of consumers, decorative laminates like sun mica are pasted on plywood to make it more appealing.
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The technological advancements in plywood have been helping to scale up the production and at the same time, reduce costs and increase profitability. Remodelling of older buildings is likely to increase in large urban countries where there is a shortage of available land, thus increasing the demand for plywood and bolstering the global plywood market. The thriving e-commerce sector coupled with a large choice of plywood available online is expected to further support the growth of the market for plywood. Market leaders are targeting cost-effective supply chain systems to manage and assess risk and expand their capabilities in the foreseen period.
Plywood Industry Definition and Major Segments
Plywood refers to a building material consisting of adjacent wooden sheets glued together to improve the strength of the material. It is a highly durable material and resistant to moisture and fire, which is why it is commonly used in roofing, for making doors and windows, and multiple other applications. Considered to be a better alternative to traditional wood, plywood is eco-friendly.
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On the basis of sector, the market is bifurcated into:
• New Construction
Based on end use, the market is classified into:
On the basis of regions, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Plywood Market Trends
With the rising development of eco-friendly strategies among the people, the use of plywood has become quite prominent due to its low formaldehyde emissions. Due to its moisture-repelling technology, plywood is increasingly being used in making kitchen and bathroom tiles. Due to the increasing working population, there has been a need for construction of new and larger workspaces, which is supporting the plywood market growth. The versatile and budget-friendly nature of plywood makes it a superior and a better option for the construction of interiors. Due to its sturdy nature, hardwood, a subtype of plywood, is increasingly being used for high-traffic applications like flooring and furniture.
Ready-to-install and durable plywood furniture are a growing trend in the market, which in turn, is surging the demand for plywood. Marine plywood is one of the most durable forms of plywood and thus is used in the construction of boats and docks. With the growing engagement of the population towards do-it-yourself (DIY) projects, the plywood market has witnessed a boom since it can be cut, drilled and shaped to fit any project need. The high thermal and sound insulation of plywood helps to cut down a significant amount of heating and cooling costs, thus making it ideal for making ceilings and floor cladding.
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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