IMARC Group, a leading market research company, has recently releases report titled “Plywood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global plywood market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the plywood market?
The global plywood market size reached US$ 45.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 62.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.27% during 2023-2028.
Plywood Market Overview:
Plywood refers to a kind of engineered wood made from thin coats of wood veneer, or plies, that are attached together with alternating grain patterns. This construction technique gives plywood its characteristic strength and durability, as well as resistance to warping and splitting. Plywood comes in a variety of grades, thicknesses, and sizes, and can be used for a wide range of applications, such as furniture, cabinetry, flooring, and construction. The most common types of plywood are made from softwood, such as pine or fir, or hardwood, such as birch or oak. Plywood is an affordable and versatile material that is widely used in both residential and commercial settings.
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What are the growth prospects and trends in the plywood industry?
The expanding construction industry represents a key factor driving the market growth across the globe. This is primarily attributed to the increasing demand for housing and commercial buildings and rising number of infrastructure projects, which is driving the demand for plywood, thus contributing to the market growth. In addition to this, the rising demand for plywood in furniture production due to the durability, strength, and versatility of the product is contributing to the growth of the market. The market is also driven by the development of advanced manufacturing techniques, such as computer numerical control (CNC) machines and digital printing, enabling the production of high-quality plywood with intricate designs and patterns. In line with this, the increasing focus on sustainable and green building practices is creating a positive outlook for the market.
Plywood Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the plywood market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- 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:
The report has segmented the global plywood market on the basis of residential and commercial application, new construction and replacement sector and region.
Breakup by Residential and Commercial Application:
- Residential
- Commercial
Breakup by New Construction and Replacement Sector:
- New Construction
- Replacement
Breakup by Region:
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)
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