The global plywood market reached a value of 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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Plywood is a type of manufacturing board, made from thin layers of wood veneers, which are glued together at right angles. A thin outer layer of additional materials like plastic, resin-impregnated paper, fabric or Formica can be added to the face and back veneers to improve the durability. These components also prevent the plywood from moisture, abrasion and corrosion, as well as facilitate better binding of paints and dyes. Nowadays, different types of plywood are available in the market, which are designed with low toxicity, and enhanced durability, aesthetics and environmental sustainability. Plywood has high structural strength, flexibility, and resistance against chemicals and fire; and provides insulation against sound and excessive heating. As a result of these properties, it is used in various industries ranging from construction to aircraft to marine. In the construction industry, it is used in the manufacturing of doors, stairs, external cladding, flooring, framing, interior rails and balustrades, internal paneling and timber joinery products. On the other hand, plywood in the marine industry withstands occasional exposure to seawater without decaying or deteriorating. It is utilized in the manufacturing of stringers, floor, transom, boat cabinetry, walls, seating, and other interior fixtures. Besides this, technological advancements by the leading companies have not only reduced manufacturing costs and increased profitability but also enhanced the quality of plywood products. Moreover, the go-green strategy adopted by plywood manufacturers acts as another significant factor which 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, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on residential and commercial application and new construction and replacement sector.
Breakup by Residential and Commercial Application: Residential
The residential sector currently represents the largest application segment, accounting for the majority of the total global market.
Breakup by New Construction and Replacement Sector:
At present, the new construction segment exhibits a clear dominance in the market due to a rise in infrastructural and housing projects across the globe.
Regional Insights: Asia Pacific
Middle East and Africa
On the geographical front, Asia Pacific enjoys the leading position in the market.
The competitive landscape of the market is characterized by the presence of numerous small and large manufacturers. Some of the leading players are:
Weyerhaeuser Company Ltd.
Boise Cascade Company
SVEZA Forest Ltd.
Mets? Wood (Mets?liitto Cooperative)
Latvijas Finieris AS
Austral Plywoods Pty Ltd.
Eksons Corporation Berhad (BHD) Key Questions Answered in This Report
1. What was the size of the global plywood market in 2021?
2. What has been the impact of COVID-19 on the global plywood market?
3. What is the breakup of the global plywood market based on the residential and commercial application?
4. What are the key factors driving the global plywood market?
5. What is the breakup of the global plywood market based on the new construction and replacement sector?
6. What are the key regions in the global plywood market?
7. Who are the key players/companies in the global plywood market?