The global plywood market was valued at $ 55.66 billion in 2022, and is projected to reach $ 100.15 billion by 2032, registering a CAGR of 6.1% from 2023 to 2032. The plywood industry is now undergoing dramatic transformations, with various major trends and possibilities. The growing demand for sustainability is one of the major trends that drives plywood makers to adopt eco-friendly procedures and use certified wood. Moreover, technology advancements and automation are changing manufacturing processes by increasing efficiency, decreasing waste, and enabling the manufacture of greater value-added goods. The rising construction sector globally, and particularly in emerging countries including the U.S., China, Japan, and India are experiencing fast urbanization, which is driving up demand for plywood in a variety of applications. Furthermore, the impact of e-commerce is changing distribution methods, causing manufacturers to improve their online presence. Customization and the creation of customized plywood are gaining popularity as customers demand unique solutions.
The plywood market includes revenue generated by products used in several industries such as construction, furniture, and packaging. Wood-based panels are also called mass timber or man-made wood or manufactured boards. The wood-based panels being cost effective and environment friendly are preferred over other wood and cement products that emit harmful by-products while manufacturing. In addition, subsidies provided by governments over green building material encourage builders and architects to use engineered wood products such as wood-based panels. Moreover, companies have keenly looked after products to enhance their aesthetics.
However, the fluctuating cost of raw materials and high investment constrain the growth of the market. In 2021, Asia-Pacific registered the highest share of the global plywood market share in 2021, owing to increased investment in tourism by private as well as public sector, which has also led to increased construction activities, thereby; creating demand for wood-based panels. Furthermore, the majority of the countries in the region are spending on the construction sector for the growth of their economies.
Based on type category, the softwood segment had the largest revenue in 2022. As urbanization grows to influence global landscapes, plywood has become a popular building material for a number of applications. Owing to its applications range from standard roofing and flooring to more novel uses including formwork and interior design features. In the building industry, plywood has emerged as a dependable and cost-effective choice for structural and non-structural components. Its strength, durability, and ease of installation make it an excellent choice for a variety of architectural features, adding to the structural integrity. Plywood is highly regarded in the industrial sector because of its load-bearing qualities and resilience to environmental variables, making it an indispensable material for warehouses, factories, and industrial buildings.
Furthermore, plywood's versatility to a variety of building types and designs has led to its widespread use. Architects and builders admire its adaptability, which allows for the building of visually beautiful structures while retaining structural integrity. The material's flexibility to be tweaked and molded into various shapes enables inventive and sophisticated designs in both residential and commercial construction projects. Plywood is used in the industrial sector to create temporary and permanent buildings, providing a solution for a variety of applications such as storage facilities, workshops, and production units. Its effectiveness in applications such as formwork is especially remarkable, since plywood can be easily bent to produce molds for concrete buildings, assuring both precision and speed in construction.
Furthermore, plywood's lightweight nature allows for easier transportation and handling, eliminating logistical obstacles in large-scale building and industrial operations. This feature, paired with its strength, makes plywood an excellent choice for applications that require a mix of structural integrity and practicality. In addition, to the building and industrial sectors advance, plywood's versatility, cost-effectiveness, and environmentally friendly manufacturing techniques contribute to its growing usage. Manufacturers and suppliers are reacting to this need by innovating in terms of product quality, design flexibility, and sustainability, ensuring plywood's place as a critical material in defining the infrastructural and industrial environment. For instance, in June 2022, Boise Cascade Company, a global manufacturer of engineered wood products and plywood in North America, has agreed to purchase Coastal Plywood Company, comprising its two production facilities, from Coastal Forest Resources Company for $512 million. In addition, Coastal sells high-quality plywood, timber, and treated wood products across the Eastern United States. The acquisition agreement includes operations in Havana, Florida, and Chapman, Alabama, which employ around 750 people.
Global demand for plywood has risen owing to its greater use. The plywood industry is seeing expansion owing to rising demand from marine, automotive and aerospace sectors. The aerospace, automotive, shipbuilding, and other sectors are increasing need for strong and durable components. Plywood is a flexible material suitable for creating these components.
The plywood market is segmented based on type, application, end user and region. By type, the market is categorized into hardwood, softwood, and others. Depending on application, it is fragmented into construction, industrial, furniture, and others. Based on end user, it is categorized into residential and non-residential. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and MEA.
In-depth plywood market analysis is conducted by constructing market estimations for key market segments between 2022 and 2032.
Extensive analysis of the plywood market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global plywood market forecast analysis from 2022 to 2032 is included in the report.
The key players within plywood market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the plywood industry.
The plywood market includes revenue generated by products used in several industries such as construction, furniture, and packaging. Wood-based panels are also called mass timber or man-made wood or manufactured boards. The wood-based panels being cost effective and environment friendly are preferred over other wood and cement products that emit harmful by-products while manufacturing. In addition, subsidies provided by governments over green building material encourage builders and architects to use engineered wood products such as wood-based panels. Moreover, companies have keenly looked after products to enhance their aesthetics.
However, the fluctuating cost of raw materials and high investment constrain the growth of the market. In 2021, Asia-Pacific registered the highest share of the global plywood market share in 2021, owing to increased investment in tourism by private as well as public sector, which has also led to increased construction activities, thereby; creating demand for wood-based panels. Furthermore, the majority of the countries in the region are spending on the construction sector for the growth of their economies.
Based on type category, the softwood segment had the largest revenue in 2022. As urbanization grows to influence global landscapes, plywood has become a popular building material for a number of applications. Owing to its applications range from standard roofing and flooring to more novel uses including formwork and interior design features. In the building industry, plywood has emerged as a dependable and cost-effective choice for structural and non-structural components. Its strength, durability, and ease of installation make it an excellent choice for a variety of architectural features, adding to the structural integrity. Plywood is highly regarded in the industrial sector because of its load-bearing qualities and resilience to environmental variables, making it an indispensable material for warehouses, factories, and industrial buildings.
Furthermore, plywood's versatility to a variety of building types and designs has led to its widespread use. Architects and builders admire its adaptability, which allows for the building of visually beautiful structures while retaining structural integrity. The material's flexibility to be tweaked and molded into various shapes enables inventive and sophisticated designs in both residential and commercial construction projects. Plywood is used in the industrial sector to create temporary and permanent buildings, providing a solution for a variety of applications such as storage facilities, workshops, and production units. Its effectiveness in applications such as formwork is especially remarkable, since plywood can be easily bent to produce molds for concrete buildings, assuring both precision and speed in construction.
Furthermore, plywood's lightweight nature allows for easier transportation and handling, eliminating logistical obstacles in large-scale building and industrial operations. This feature, paired with its strength, makes plywood an excellent choice for applications that require a mix of structural integrity and practicality. In addition, to the building and industrial sectors advance, plywood's versatility, cost-effectiveness, and environmentally friendly manufacturing techniques contribute to its growing usage. Manufacturers and suppliers are reacting to this need by innovating in terms of product quality, design flexibility, and sustainability, ensuring plywood's place as a critical material in defining the infrastructural and industrial environment. For instance, in June 2022, Boise Cascade Company, a global manufacturer of engineered wood products and plywood in North America, has agreed to purchase Coastal Plywood Company, comprising its two production facilities, from Coastal Forest Resources Company for $512 million. In addition, Coastal sells high-quality plywood, timber, and treated wood products across the Eastern United States. The acquisition agreement includes operations in Havana, Florida, and Chapman, Alabama, which employ around 750 people.
Global demand for plywood has risen owing to its greater use. The plywood industry is seeing expansion owing to rising demand from marine, automotive and aerospace sectors. The aerospace, automotive, shipbuilding, and other sectors are increasing need for strong and durable components. Plywood is a flexible material suitable for creating these components.
The plywood market is segmented based on type, application, end user and region. By type, the market is categorized into hardwood, softwood, and others. Depending on application, it is fragmented into construction, industrial, furniture, and others. Based on end user, it is categorized into residential and non-residential. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and MEA.
Competition Analysis
Key companies profiled in the plywood industry include Weyerhaeuser Company, Georgia-Pacific, LLC, Boise Cascade Company, Greenply Industries, Uniply Industries Ltd., JAYA TIASA HOLDINGS BERHAD, UPM Plywood, SUBUR TIASA HOLDINGS BERHAD, SVEZAs, and Duro Ply Industries Limited.Key Benefits for Stakeholders
The report provides an extensive analysis of the current and emerging plywood market trends and dynamics.In-depth plywood market analysis is conducted by constructing market estimations for key market segments between 2022 and 2032.
Extensive analysis of the plywood market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global plywood market forecast analysis from 2022 to 2032 is included in the report.
The key players within plywood market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the plywood industry.
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- Investment Opportunities
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- SWOT Analysis
- Volume Market Size and Forecast
Key Market Segments
By Type
- Hardwood
- Softwood
- Others
By Application
- Construction
- Industrial
- Furniture
- Others
By End User
- Residential
- Non-Residential
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Colombia
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Nigeria
- Rest Of Mea
Key Market Players
- Century Ply
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PLYWOOD MARKET, BY TYPE
CHAPTER 5: PLYWOOD MARKET, BY APPLICATION
CHAPTER 6: PLYWOOD MARKET, BY END USER
CHAPTER 7: PLYWOOD MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Century Ply
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 197 |
| Published | February 2024 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 55.66 billion |
| Forecasted Market Value ( USD | $ 100.15 billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
