The plywood market size has grown strongly in recent years. It will grow from $127.19 billion in 2024 to $135.61 billion in 2025 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to emerging markets growth, a growth in world population, a growth in residential construction activity, and the low-interest rates.
The plywood market size is expected to see strong growth in the next few years. It will grow to $169.8 billion in 2029 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to government support, rising renovation activities, rising urbanization, and an increasing demand for wooden furniture. Major trends in the forecast period include technological advancements, product innovations, use of biodegradable chemicals for wood preservation, development of termite-free and waterproof plywood, development of zero-emission plywood, development of fire-resistant plywood, new plant expansions, and collaborations and acquisitions.
The rising construction activities are anticipated to drive the growth of the plywood market in the coming years. Construction involves assembling various elements to create structures at specific locations, guided by detailed designs and plans. Plywood is essential in construction due to its structural support, versatility, and cost-effectiveness. For example, in August 2024, the Sunshine Coast Council, an Australia-based local government, reported that the value of construction building approvals reached a record high of $2.3 billion for the region, reflecting an increase of $100 million compared to 2022-23. This achievement signifies a notable uptick in construction activity, demonstrating robust demand for building projects in the area. Consequently, the increase in construction activities is driving growth in the plywood market.
Renovation activities by governments in emerging economies such as India and Brazil, coupled with increasing demands for precast concrete, are contributing to the plywood market's growth. Renovations in the hospitality sector and rising public and private investments driven by industrialization are further propelling market expansion. For example, the government of India's ambitious investment plan of $1.5 trillion in the construction sector by 2025 aims to enhance infrastructure quality in various sectors. This surge in renovation and investment activities is expected to bolster the overall operations of the plywood market.
The emergence of fire-resistant plywood stands out as a noteworthy trend gaining traction in the plywood market. Fireproof plywood, treated with special fire-retardant chemicals during manufacturing, offers enhanced fire resistance, often referred to as FR-grade plywood. This type of plywood finds applications in public spaces, kitchens of large restaurants, interior woodwork in theaters, halls, and railway compartments, among other areas where fire risk needs reduction. In July 2022, Greenply Industries Limited, an India-based interior infrastructure company, introduced 'Green Platinum,' a fire-resistant plywood with E-0 compliance. This innovative product, twice as effective in fire resistance and waterproof properties, incorporates PEN Tech technology, providing a protective mesh between layers and on the surface.
Strategic partnerships are playing a crucial role in shaping the plywood market as companies seek collaborative efforts to meet customer demands. Boise Cascade Millwork, a US-based plywood manufacturer, formed a partnership with Simpson Door Company, enhancing its offering of premium doors and services in Atlanta. Additionally, Quant, a Sweden-based industrial maintenance company, collaborated with Metsä Wood, a Finland-based plywood manufacturer, to elevate proactive and predictive maintenance.
In March 2024, Richelieu Hardware, a Canada-based company specializing in hardware manufacturing and distribution, acquired Allegheny Plywood Company for an undisclosed amount. This acquisition is part of Richelieu's strategy to strengthen its market position by establishing distribution centers in Pittsburgh and Allentown, Pennsylvania, as well as Cleveland, Ohio. The initiative aims to expand its U.S. operations and enhance its product offerings in specialized panels and decorative surfaces, thereby supporting the company's growth efforts in the region. Allegheny Plywood Company is a premier wholesale distributor in the U.S., focusing on cabinet-grade hardwood, plywood, and industrial panel products.
Major companies operating in the plywood market include UPM-Kymmene Oyj, Boise Cascade Company, Metsä Group, West Fraser Timber Co. Ltd, Weyerhaeuser Company, Georgia-Pacific, LLC, Greenply Industries Limited, Sveza-Les LLC, Austal Plywoods Private Limited, Century Plyboards India Ltd, Kitply, Sarda Plywood, National Plywood, Kamdhenu Plywood, Oriental Veneer Products Ltd, Luli Group, Yingang Wood Based Panel Co Ltd, CNSIC, Shandong Xingang Group, Xinle Plywood Group, Jiangsu Shengyang Industrial Joint Stock Co Ltd, Specialized Panel Products Ltd, Ply-Tek, Caledonian Plywood Company, Holdex Plywood Ltd, Stonebridge UK Ltd, Sydenhams Plywood & Panel Products, Viking Plywood & Timber Ltd, Timb Ply Ltd, Stora Enso, Russia Forest Products, Wotan Forest a.s, UNILES Inc, Segezha Group, KPPD-Szczecinek SA, Ilim Timber LLC, West Fraser Allendale, Canfor Corporation, Hancock Timber Resource Group, RSH Forest Products, PotlatchDeltic Corporation, Sierra Pacific, Berneck, Araupel, Linea Parana Madeiras Ltda, Imaribo, Middle East Wood, Mazi Orman Urunleri Ltd, Dastas Demircioglu Agac AS, Daco Parquet Factory AS, Gabon Veneer, Merensky, Miro Forestry, Timber Products, United Forest Products, Afeefa Overseas Sarl Gabon, Okoume Face Veneer, Brick Plyboards, Boschetto Timbers.
Asia-Pacific was the largest region in the plywood market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plywood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the plywood market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Plywood is a type of wooden product wherein thin layers of wood are bonded and pressed together to create a construction material known for its high structural strength and flexibility. It possesses better resistance against moisture, and the wood grains are often arranged at right angles to each other. Plywood finds widespread use in interior design and furniture construction. In addition to being economical and durable, it is considered a more eco-friendly option compared to conventional wood.
The main types of plywood are categorized as softwood and hardwood. Softwood plywood features front and back veneers made from softwood, primarily used for decorative purposes such as furniture making. Plywood is utilized in various applications, including furniture, flooring, construction, automotive interiors, packaging, marine projects, and others. Its usage extends to both residential and commercial settings.
The plywood market research report is one of a series of new reports that provides plywood market statistics, including plywood industry global market size, regional shares, competitors with a plywood market share, detailed plywood market segments, market trends and opportunities, and any further data you may need to thrive in the plywood industry. This plywood market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The plywood market consists of sales of off-core plywood, lumber plywood, and marine plywood. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The plywood market size is expected to see strong growth in the next few years. It will grow to $169.8 billion in 2029 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to government support, rising renovation activities, rising urbanization, and an increasing demand for wooden furniture. Major trends in the forecast period include technological advancements, product innovations, use of biodegradable chemicals for wood preservation, development of termite-free and waterproof plywood, development of zero-emission plywood, development of fire-resistant plywood, new plant expansions, and collaborations and acquisitions.
The rising construction activities are anticipated to drive the growth of the plywood market in the coming years. Construction involves assembling various elements to create structures at specific locations, guided by detailed designs and plans. Plywood is essential in construction due to its structural support, versatility, and cost-effectiveness. For example, in August 2024, the Sunshine Coast Council, an Australia-based local government, reported that the value of construction building approvals reached a record high of $2.3 billion for the region, reflecting an increase of $100 million compared to 2022-23. This achievement signifies a notable uptick in construction activity, demonstrating robust demand for building projects in the area. Consequently, the increase in construction activities is driving growth in the plywood market.
Renovation activities by governments in emerging economies such as India and Brazil, coupled with increasing demands for precast concrete, are contributing to the plywood market's growth. Renovations in the hospitality sector and rising public and private investments driven by industrialization are further propelling market expansion. For example, the government of India's ambitious investment plan of $1.5 trillion in the construction sector by 2025 aims to enhance infrastructure quality in various sectors. This surge in renovation and investment activities is expected to bolster the overall operations of the plywood market.
The emergence of fire-resistant plywood stands out as a noteworthy trend gaining traction in the plywood market. Fireproof plywood, treated with special fire-retardant chemicals during manufacturing, offers enhanced fire resistance, often referred to as FR-grade plywood. This type of plywood finds applications in public spaces, kitchens of large restaurants, interior woodwork in theaters, halls, and railway compartments, among other areas where fire risk needs reduction. In July 2022, Greenply Industries Limited, an India-based interior infrastructure company, introduced 'Green Platinum,' a fire-resistant plywood with E-0 compliance. This innovative product, twice as effective in fire resistance and waterproof properties, incorporates PEN Tech technology, providing a protective mesh between layers and on the surface.
Strategic partnerships are playing a crucial role in shaping the plywood market as companies seek collaborative efforts to meet customer demands. Boise Cascade Millwork, a US-based plywood manufacturer, formed a partnership with Simpson Door Company, enhancing its offering of premium doors and services in Atlanta. Additionally, Quant, a Sweden-based industrial maintenance company, collaborated with Metsä Wood, a Finland-based plywood manufacturer, to elevate proactive and predictive maintenance.
In March 2024, Richelieu Hardware, a Canada-based company specializing in hardware manufacturing and distribution, acquired Allegheny Plywood Company for an undisclosed amount. This acquisition is part of Richelieu's strategy to strengthen its market position by establishing distribution centers in Pittsburgh and Allentown, Pennsylvania, as well as Cleveland, Ohio. The initiative aims to expand its U.S. operations and enhance its product offerings in specialized panels and decorative surfaces, thereby supporting the company's growth efforts in the region. Allegheny Plywood Company is a premier wholesale distributor in the U.S., focusing on cabinet-grade hardwood, plywood, and industrial panel products.
Major companies operating in the plywood market include UPM-Kymmene Oyj, Boise Cascade Company, Metsä Group, West Fraser Timber Co. Ltd, Weyerhaeuser Company, Georgia-Pacific, LLC, Greenply Industries Limited, Sveza-Les LLC, Austal Plywoods Private Limited, Century Plyboards India Ltd, Kitply, Sarda Plywood, National Plywood, Kamdhenu Plywood, Oriental Veneer Products Ltd, Luli Group, Yingang Wood Based Panel Co Ltd, CNSIC, Shandong Xingang Group, Xinle Plywood Group, Jiangsu Shengyang Industrial Joint Stock Co Ltd, Specialized Panel Products Ltd, Ply-Tek, Caledonian Plywood Company, Holdex Plywood Ltd, Stonebridge UK Ltd, Sydenhams Plywood & Panel Products, Viking Plywood & Timber Ltd, Timb Ply Ltd, Stora Enso, Russia Forest Products, Wotan Forest a.s, UNILES Inc, Segezha Group, KPPD-Szczecinek SA, Ilim Timber LLC, West Fraser Allendale, Canfor Corporation, Hancock Timber Resource Group, RSH Forest Products, PotlatchDeltic Corporation, Sierra Pacific, Berneck, Araupel, Linea Parana Madeiras Ltda, Imaribo, Middle East Wood, Mazi Orman Urunleri Ltd, Dastas Demircioglu Agac AS, Daco Parquet Factory AS, Gabon Veneer, Merensky, Miro Forestry, Timber Products, United Forest Products, Afeefa Overseas Sarl Gabon, Okoume Face Veneer, Brick Plyboards, Boschetto Timbers.
Asia-Pacific was the largest region in the plywood market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plywood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the plywood market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Plywood is a type of wooden product wherein thin layers of wood are bonded and pressed together to create a construction material known for its high structural strength and flexibility. It possesses better resistance against moisture, and the wood grains are often arranged at right angles to each other. Plywood finds widespread use in interior design and furniture construction. In addition to being economical and durable, it is considered a more eco-friendly option compared to conventional wood.
The main types of plywood are categorized as softwood and hardwood. Softwood plywood features front and back veneers made from softwood, primarily used for decorative purposes such as furniture making. Plywood is utilized in various applications, including furniture, flooring, construction, automotive interiors, packaging, marine projects, and others. Its usage extends to both residential and commercial settings.
The plywood market research report is one of a series of new reports that provides plywood market statistics, including plywood industry global market size, regional shares, competitors with a plywood market share, detailed plywood market segments, market trends and opportunities, and any further data you may need to thrive in the plywood industry. This plywood market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The plywood market consists of sales of off-core plywood, lumber plywood, and marine plywood. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Plywood Market Characteristics3. Plywood Market Trends and Strategies4. Plywood Market - Macro Economic Scenario including the impact of Interest Rates, Inflation, Geopolitics and Covid and Recovery on the Market32. Global Plywood Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Plywood Market34. Recent Developments in the Plywood Market
5. Global Plywood Growth Analysis and Strategic Analysis Framework
6. Plywood Market Segmentation
7. Plywood Market Regional and Country Analysis
8. Asia-Pacific Plywood Market
9. China Plywood Market
10. India Plywood Market
11. Japan Plywood Market
12. Australia Plywood Market
13. Indonesia Plywood Market
14. South Korea Plywood Market
15. Western Europe Plywood Market
16. UK Plywood Market
17. Germany Plywood Market
18. France Plywood Market
19. Italy Plywood Market
20. Spain Plywood Market
21. Eastern Europe Plywood Market
22. Russia Plywood Market
23. North America Plywood Market
24. USA Plywood Market
25. Canada Plywood Market
26. South America Plywood Market
27. Brazil Plywood Market
28. Middle East Plywood Market
29. Africa Plywood Market
30. Plywood Market Competitive Landscape and Company Profiles
31. Plywood Market Other Major and Innovative Companies
35. Plywood Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Plywood Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on plywood market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for plywood? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The plywood market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Softwood, Hardwood2) By Application: Furniture, Building and Construction, Transportation, Packaging, Other Applications
3) By End-User: Residential, Commercial
Subsegments:
1) By Softwood: Pine Plywood; Spruce Plywood; Fir Plywood; Cedar Plywood; Larch Plywood2) By Hardwood: Oak Plywood; Birch Plywood; Maple Plywood; Beech Plywood; Teak Plywood; Cherry Plywood
Key Companies Mentioned: UPM-Kymmene Oyj; Boise Cascade Company; Metsä Group; West Fraser Timber Co. Ltd; Weyerhaeuser Company
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- UPM-Kymmene Oyj
- Boise Cascade Company
- Metsä Group
- West Fraser Timber Co. Ltd
- Weyerhaeuser Company
- Georgia-Pacific, LLC
- Greenply Industries Limited
- Sveza-Les LLC
- Austal Plywoods Private Limited
- Century Plyboards India Ltd
- Kitply
- Sarda Plywood
- National Plywood
- Kamdhenu Plywood
- Oriental Veneer Products Ltd
- Luli Group
- Yingang Wood Based Panel Co Ltd
- CNSIC
- Shandong Xingang Group
- Xinle Plywood Group
- Jiangsu Shengyang Industrial Joint Stock Co Ltd
- Specialized Panel Products Ltd
- Ply-Tek
- Caledonian Plywood Company
- Holdex Plywood Ltd
- Stonebridge UK Ltd
- Sydenhams Plywood & Panel Products
- Viking Plywood & Timber Ltd
- Timb Ply Ltd
- Stora Enso
- Russia Forest Products
- Wotan Forest a.s
- UNILES Inc
- Segezha Group
- KPPD-Szczecinek SA
- Ilim Timber LLC
- West Fraser Allendale
- Canfor Corporation
- Hancock Timber Resource Group
- RSH Forest Products
- PotlatchDeltic Corporation
- Sierra Pacific
- Berneck
- Araupel
- Linea Parana Madeiras Ltda
- Imaribo
- Middle East Wood
- Mazi Orman Urunleri Ltd
- Dastas Demircioglu Agac AS
- Daco Parquet Factory AS
- Gabon Veneer
- Merensky
- Miro Forestry
- Timber Products
- United Forest Products
- Afeefa Overseas Sarl Gabon
- Okoume Face Veneer
- Brick Plyboards
- Boschetto Timbers
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 135.61 Billion |
| Forecasted Market Value ( USD | $ 169.8 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 59 |
