Plywood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Plywood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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.The increasing utilization of ready-made and easy-to-install furniture, rising trend of interior designing, and the growing adoption of plywood in the marine industry represent some of the key factors driving the market.

Plywood is a building material manufactured from fortifying sheets of wood together by placing the wood grains at right angles. It comprises multiple plies or layers of resin and fiber sheets of wood veneer glued together. It is commercially available as softwood, hardwood, tropical, aircraft, decorative, flexible, and marine plywood. It is durable, easy to install, possesses low moisture content, and can support a massive weight. Plywood is a versatile material and can easily adapt to the aesthetics of any design. It is used in sheathing exterior walls and manufacturing false ceilings due to its high tensile strength. It also finds applications in building partitions and walls of offices, music rooms, and movie theaters due to its soundproofing capabilities. Besides this, it is employed in manufacturing bed and sofa frames and wardrobes, cabinets, and shelves utilized for storage purposes. Plywood is also appropriate for various do-it-yourself (DIY) projects as it can be easily drilled, shaped, and cut according to specific requirements.

Global Plywood Market Trends:
At present, the increasing demand for plywood due to the rising adoption of interior designing and aesthetic furnishing in the residential and commercial sectors represents one of the primary factors influencing the market positively. Besides this, the growing construction of shopping malls, multiplex cinema halls, and recreation activity centers around the world is offering a favorable market outlook. In addition, the rising adoption of plywood in the marine industry to manufacture ship cabinets, boats, vessel floors, and docks is propelling the growth of the market. Apart from this, there is an increase in the utilization of plywood in building bathroom floors and kitchen cabinets to prevent moisture. This, coupled with the rising demand for plywood in fencing and rehabilitation of buildings, is contributing to the growth of the market. Additionally, plywood is a sustainable building material that can be recycled, which is supporting the growth of the market. Moreover, the increasing demand for lightweight, ready-made, and easy-to-install furniture is strengthening the growth of the market. Furthermore, the rising employment of plywood in constructing skating grounds, as it requires minimum maintenance and prevents the growth of mildew, is bolstering the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global plywood market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on residential and commercial application, and new construction and replacement sector.

Residential and Commercial Application Insights:

Residential
Commercial

The report has provided a detailed breakup and analysis of the plywood market based on the residential and commercial application. This includes residential and commercial. According to the report, residential represented the largest segment.

New Construction and Replacement Sector Insights:

New Construction
Replacement

A detailed breakup and analysis of the plywood market based on the new construction and replacement sector has also been provided in the report. This includes new construction and replacement. According to the report, new construction accounted for the largest market share.

Regional Insights:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

The report has also provided a comprehensive analysis of all the major regional markets that include Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. According to the report, Asia Pacific was the largest market for plywood. Some of the factors driving the Asia Pacific plywood market included increasing building and construction activities, rising demand for high-quality and lightweight furniture, growing manufacturing industry, etc.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global plywood market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Georgia-Pacific LLC (Koch Industries, Inc)., PotlatchDeltic Corporation, Weyerhaeuser Company Ltd., Boise Cascade Company, UPM-Kymmene Corporation, SVEZA Forest Ltd., Metsä Wood (Metsäliitto Cooperative), Latvijas Finieris AS, Austral Plywoods Pty Ltd., and Eksons Corporation Berhad (BHD). Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global plywood market in 2022?
2. What is the expected growth rate of the global plywood market during 2023-2028?
3. What are the key factors driving the global plywood market?
4. What has been the impact of COVID-19 on the global plywood market?
5. What is the breakup of the global plywood market based on the residential and commercial application?
6. What is the breakup of the global plywood market based on the new construction and replacement sector?
7. What are the key regions in the global plywood market?
8. Who are the key players/companies in the global plywood market?