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Global Plywood Market Size, Share, Analysis, Forecast: By Sector: New Construction, Replacement; By End Use: Residential, Commercial; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; 2024-2032
Global Plywood Market Outlook
The global plywood market size attained a value of approximately USD 49.78 billion in 2023. The market is further expected to grow at a CAGR of 5% in the forecast period of 2024-2032, reaching a value of around USD 77.18 billion by 2032.
Plywood is an engineered wood product made of thin layers of wood known as veneer that are bonded together to create a thicker and flat sheet. Each layer of wood, or ply, is usually oriented with its grain running at right angles to the adjacent layer. This cross-graining technique significantly reduces the tendency of wood to split when nailed at the edges; it reduces expansion and shrinkage, providing improved dimensional stability; and it makes the strength of the plywood uniform across all directions.
It has a longer lifespan, is lightweight, convenient, cost-effective, and easy to use. Depending upon the type of wood used, the plywood produced can vary in appearance and characteristics. Plywood is versatile and can be used for a wide range of structural, interior, and exterior applications. Its cross-grained structure distributes loads and stresses more evenly across the board, making it a strong and reliable material. It is commonly used in the construction sector for flooring, roofing, and wall sheathing, as well as in furniture making and cabinetry.
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Key Trends in the Market
Growing demand for plywood in the construction and furniture sector
The key plywood market trends driving the market growth include the escalating construction activity globally and the expanding furniture sector. Rapid urbanisation in many parts of the world, particularly in emerging economies, has led to increased infrastructure development. This includes the construction of residential and commercial buildings, where plywood is extensively used for a variety of purposes such as flooring, roofing, and wall sheathing.
Plywood offers aesthetic versatility as it can be easily finished with laminates, veneers, or paints, making it suitable for a wide range of furniture styles. This adaptability allows manufacturers to cater to diverse consumer tastes and trends.
This demand is further amplified by continuous advancements in plywood manufacturing technologies and the development of new and innovative plywood products tailored for specific applications in construction and furniture making.
Growing investments in the interior designing sector
The plywood market demand is also favourably impacted by the rise in expenditure in interior designing and the increasing propensity of homeowners to invest in aesthetic home furnishings and décor. Rising income levels worldwide and increasing consumer demand for trendy, high-quality furniture that is durable and appealing to the eye, are also fuelling the market expansion. High-quality interiors and furnishings are often used to refresh existing buildings, increasing the demand for plywood.
The flexibility of plywood allows for innovative and creative design solutions, which are increasingly sought after in modern interior design. It can be moulded into various shapes and sizes, accommodating complex designs and unique architectural requirements. With homeowners spending more time at home, especially post-pandemic, there's been a surge in home renovation and improvement projects. Plywood is commonly used in these projects due to its cost-effectiveness and ease of installation.
Platforms like Instagram and Pinterest have made interior design and home décor trends more accessible, inspiring homeowners to invest in aesthetic improvements.
Growing popularity of eco-friendly products
Rising awareness of the use of environmentally friendly products that reduce carbon emissions is providing a positive outlook for the plywood market growth. Plywood is considered sustainable as it is made from natural wood, is recyclable, and biodegradable.
Trees absorb carbon dioxide during their growth, and this carbon remains stored in wood products like plywood. Using wood for construction and furniture can effectively lock away carbon for decades, contributing to lower carbon emissions. Compared to the production of some alternative materials like steel or concrete, plywood manufacturing generally requires less energy, and this reduced energy consumption translates to lower carbon emissions.
Technological advancements in plywood manufacturing are continually improving its environmental footprint. These include more efficient use of raw materials, reduced waste, and recycling of by-products. Many governments are implementing policies and regulations that encourage or mandate the use of sustainable materials in construction and other industries and this regulatory environment favours the use of materials like plywood.
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Plywood Market Segmentation
Based on sector, the market is bifurcated into new construction and replacement. On the basis of end use, the market is divided into residential and commercial. The regional markets for plywood are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global plywood market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Georgia-Pacific LLC
- PotlatchDeltic Corporation
- Weyerhaeuser Company
- Boise Cascade
- UPM-Kymmene Corporation
- Sveza
- Others
Market Share by End Use
During the forecast period, the residential sector is expected to gain a significant plywood market share. The growing use of plywood as wall and floor coverings, as well as roof deck coatings, in residential areas all over the world is propelling the growth of the segment.
Plywood is also frequently used for roofing and flooring because of its great strength-to-weight ratio, sturdiness, and water resistance. In addition, plywood is a common choice for both professional and do-it-yourself contractors since it is also quite simple to install. It may also be utilised in wet or humid environments, such as bathrooms or kitchens, due to its moisture resistance.
As urbanisation continues and populations grow, particularly in emerging economies, there is an increasing demand for new housing. This expansion in the housing sector directly boosts the demand for construction materials, including plywood. Additionally, plywood's natural insulating properties contribute to energy efficiency in homes, which is a growing consideration for new constructions and renovations.
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Market Share by Region
As per the plywood market analysis, the Asia Pacific is anticipated to account for a substantial market share, during the forecast period, due to the rising spending on residential buildings and commercial infrastructure in countries like China and India. Large populations, increasing industrialisation, and rapid urbanisation are resulting in an increased demand for new constructions and upgrades of older infrastructure, thereby bolstering the market for plywood.
The market expansion in the Asia Pacific is also being fuelled by the increasing use of technology by manufacturers to lower plywood manufacturing costs, boost profitability, and enhance the quality of their plywood products.
Countries like China and Indonesia are among the world’s largest producers of plywood, with well-established manufacturing industries. This local production capability can meet domestic demand and also cater to significant export markets. There is also a strong cultural emphasis on aesthetics and interior design in many Asia Pacific countries, which translates to a higher consumption of plywood for decorative purposes.
The region is also rich in forest resources, providing easy access to raw materials for plywood production. This abundance reduces material costs and supports large-scale production. Furthermore, many governments in the region have policies supporting the timber sector, including subsidies and favourable trade agreements.
Competitive Landscape
Georgia-Pacific LLC was founded in 1927 and has its headquarters in Georgia in the United States. The company is one of the top producers and marketers of toilet paper, paper-based packaging, paper towels and napkins, tableware, cellulose, speciality fibres, and construction goods worldwide.
PotlatchDeltic Corporation, established in 1903 and headquartered in Washington in the United States, is a Real Estate Investment Trust (REIT). The company runs several sawmills, an industrial plywood mill, a residential and commercial real estate development enterprise, and a rural forest sales programme.
Weyerhaeuser Company is a manufacturer of wood products established in 1900 and headquartered in Washington, United States. The company provides its wood products for new residential constructions, light commercial constructions, industrial projects, multi-family buildings, and repair and remodelling.
Other market players include Boise Cascade, UPM-Kymmene Corporation, and Sveza, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Sector |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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Plywood Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Plywood Market Analysis
8.1 Key Industry Highlights
8.2 Global Plywood Historical Market (2018-2023)
8.3 Global Plywood Market Forecast (2024-2032)
8.4 Global Plywood Market by Sector
8.4.1 New Construction
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Replacement
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Plywood Market by End Use
8.5.1 Residential
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Commercial
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Plywood Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Plywood Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Plywood Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Plywood Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Plywood Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Plywood Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code - 4412)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18 Manufacturing Process
18.1 Detailed Process Flow
18.2 Operations Involved
18.3 Mass Balance
19 Project Details and Cost Analysis
19.1 Land, Location and Site Development
19.2 Construction
19.3 Plant Layout
19.4 Plant Machinery
19.5 Raw Material Requirement
19.6 Packaging
19.7 Transportation
19.8 Utilities
19.9 Manpower
19.10 Other Capital Investment
20 Loans and Financial Assistance
21 Project Economics
21.1 Capital Cost of Project
21.2 Techno-Economic Parameters
21.3 Product Pricing and Margins
21.4 Taxation and Depreciation
21.5 Income Projections
21.6 Expenditure Projections
21.7 Financial Analysis
22 Competitive Landscape
22.1 Market Structure
22.2 Company Profiles
22.2.1 Georgia-Pacific LLC
22.2.1.1 Company Overview
22.2.1.2 Product Portfolio
22.2.1.3 Demographic Reach and Achievements
22.2.1.4 Financial Summary
22.2.1.5 Certifications
22.2.2 PotlatchDeltic Corporation
22.2.2.1 Company Overview
22.2.2.2 Product Portfolio
22.2.2.3 Demographic Reach and Achievements
22.2.2.4 Financial Summary
22.2.2.5 Certifications
22.2.3 Weyerhaeuser Company
22.2.3.1 Company Overview
22.2.3.2 Product Portfolio
22.2.3.3 Demographic Reach and Achievements
22.2.3.4 Financial Summary
22.2.3.5 Certifications
22.2.4 Boise Cascade
22.2.4.1 Company Overview
22.2.4.2 Product Portfolio
22.2.4.3 Demographic Reach and Achievements
22.2.4.4 Financial Summary
22.2.4.5 Certifications
22.2.5 UPM-Kymmene Corporation
22.2.5.1 Company Overview
22.2.5.2 Product Portfolio
22.2.5.3 Demographic Reach and Achievements
22.2.5.4 Financial Summary
22.2.5.5 Certifications
22.2.6 Sveza
22.2.6.1 Company Overview
22.2.6.2 Product Portfolio
22.2.6.3 Demographic Reach and Achievements
22.2.6.4 Financial Summary
22.2.6.5 Certifications
22.2.7 Others
23 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Plywood Market: Key Industry Highlights, 2018 and 2032
2. Global Plywood Historical Market: Breakup by Sector (USD Billion), 2018-2023
3. Global Plywood Market Forecast: Breakup by Sector (USD Billion), 2024-2032
4. Global Plywood Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Plywood Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Plywood Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Plywood Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Plywood Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Plywood Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Plywood Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Plywood Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Plywood Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Plywood Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Plywood Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Plywood Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Plywood Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Plywood Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Major Importing Countries by Volume (2020)
19. Major Exporting Countries by Volume (2020)
20. Major Importing Countries by Value Million USD (2020)
21. Major Exporting Countries by Value Million USD (2020)
22. North America Historical Price Trends and Forecast 2018-2028
23. Europe Historical Price Trends and Forecast 2018-2028
24. Asia Pacific Historical Price Trends and Forecast 2018-2028
25. Latin America Historical Price Trends and Forecast 2018-2028
26. Middle East and Africa Historical Price Trends and Forecast 2018-2028
27. Global Plywood Market Structure
Key Questions Answered in the Report
In 2023, the global market for plywood attained a value of around USD 49.78 billion.
The market is assessed to grow at a CAGR of 5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 77.18 billion by 2032.
The major drivers of the market include the rising disposable incomes, increasing population, and the growing furniture industry.
The eco-friendly strategies of the manufacturers and increasing construction activities are expected to be key trends guiding the growth of the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The new construction and replacement are the sectors in the market.
Based on end use, the market is divided into residential and commercial.
The leading players in the global plywood market are Georgia-Pacific LLC, PotlatchDeltic Corporation, Weyerhaeuser Company, Boise Cascade, UPM-Kymmene Corporation, and Sveza, among others.
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