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Global Plywood Market to Grow at a CAGR of 5% During 2021-2026, Aided by the Rising Construction Industry

According to a new report by EMR titled, 'Global Plywood Market Report and Forecast 2021-2026', the global market for plywood reached a value of around USD 43 billion in 2020. The market is further expected to grow at a CAGR of 5% in the forecast period of 2021-2026 to attain USD 57.6 billion by 2026.

The growth of the global plywood industry is strengthened by an upsurge in construction activities across the globe. The Asia Pacific is the dominant regional market for plywood, accounting for the major share within the market. The continent has India and China as significant markets due to the high population growth rate and rising per capita income. Further, advancements in technology to lower the manufacturing costs, enhanced quality of the plywood merchandise, and increasing profits, are some of the factors that are influencing the market positively.

The mergers and acquisitions among the key players in the industry is also likely to boost the market growth by helping players streamline, expand, and solidify their presence in the market. Boise Cascade Company (NYSE: BCC), a plywood company, announced in January 2020 that it had entered an agreement involving the sale of North Carolina plywood mill to Southern Veneer Products. Southern Veneer is a manufacturer of high-quality plywood. Further, the rising demand for supreme plywood material is expected to aid the industry.

Market Analysis by End Use, Sector, and Region:

  • The plywood industry, on the basis of application, is bifurcated into residential and commercial applications.
  • On the basis of sector, the market is segmented into new construction and replacement. 
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global plywood industry is being driven by the expanding construction industry, in conjunction with the growth of the furniture industry, across the globe.
  • Plywood comes in a variety of ranges, one such being the special grade plywood, which is used in the marine industry owing to its quality to withstand any contact with moisture, further aiding the market growth.
  • Various uses of the product in the production of products, such as stringers, floors, constructing seats, walls, boat cabinetry, etc., are enhancing the market growth.
  • Plywood is cost-efficient as compared to raw wood, as a result propelling the industry growth.
  • Go-green campaign initiated by several manufacturers in the wake of increasing concerns for the environment is expected to influence the market positively in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for plywood for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the end uses, sectors, and regional markets of plywood.
  • It gives an in-depth look at the regional price trends in the global market for plywood.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

Georgia-Pacific LLC, PotlatchDeltic Corporation, Weyerhaeuser Company, Boise Cascade, UPM-Kymmene Corporation, and Sveza, among others, are the key players in the global plywood market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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