The global marine plywood market size reached US$ 9.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 15.7 Billion by 2027, exhibiting a growth rate (CAGR) of 8.25% 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.
Marine plywood is a good-quality, hardwood plywood made with waterproof glue. They are generally used for building boats and ships, and any other applications in which the plywood can get exposed to water. Earlier, the major applications of these plywood were confined to the marine industry. However, with increasing technological advancements, they are now also being used in several residential and commercial purposes.
Marine plywood performs well in humid and wet conditions. Moreover, unlike most woods, it also resists the bending, warping or delamination which can often result from too much moisture. This guarantees marine plywood’s durability as well as the structural strength of any construction which makes use of it. Marine plywood is often composed of several face and core veneers, with an effort to reduce the size of any gaps between the sheets. This ensures no water can become trapped. Sheets are glued together for strength and durability and a coat of water and boil proof (WBP) glue provides additional resistance to moisture.
The utilization of marine plywood in the marine industry for manufacturing stringers, floor, transom, boat cabinetry, walls, seating, etc. is anticipated to drive the marine plywood industry in the coming years. Additionaly, the growing popularity of marine plywood in other applications like building rooftops and doors in residential spaces is expected to further fuel its demand.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global marine plywood market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on application.
Breakup by Application:
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market along with the profiles of the key players.
Key questions answered in this report:
How has the marine plywood market performed so far and how will it perform in the coming years?
What are the key regional markets in the global marine plywood industry?
What has been the impact of COVID-19 on the global marine plywood industry?
What are the key applications in the global marine plywood industry?
What are the various stages in the value chain of the marine plywood industry?
What are the key driving factors and challenges in the global marine plywood industry?
What is the structure of the global marine plywood industry and who are the key players?
What is the degree of competition in the global marine plywood industry?
What are the profit margins in the global marine plywood industry?
How is marine plywood manufactured?