Plywood Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Plywood Market was worth US$ 72,456.0 Mn and is expected to grow at a CAGR of 5.8% over the forecast period. The market is expected to hit US$ 1,27,330.1 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 5.0%, the market underwent significant growth.
The plywood market depends on various factors influencing its growth and behavior. These include population size, GDP, urbanization, and many others.
THE GROWTH IN THE CONSTRUCTION INDUSTRY DRIVES THE MARKET GROWTH
The growth of this industry is attributed to the rising construction activity, which will ensure the development of alternative materials used in construction activities. It is mainly used to build houses and office buildings as it is easy and cheap to install and has a smooth finish. Moreover, they also provide excellent thermal insulation properties. It is expected that the increase in the growth and development of commercial buildings is boosting the fuel to develop the plywood market size.
ALTERNATIVE OF PLYWOOD & HIGH RAW MATERIALS COSTS MAY HAMPER THE MARKET GROWTH
The main constraint that restrains the plywood market growth is the availability of substitute products. Recently many products have been available at low cost and used as substitutes for plywoods. Because raw material costs may negatively impact business development in the plywood market. The impact of the price fluctuation of the raw materials on the Plywood Market is one of the major factors which leads to the restraint of growth in this industry.
Many manufacturers adopt a technique that involves positioning their products at a lower price than manufacturing and other costs. This practice has helped them manage their worth, but if there is some fluctuation in this, it can lead to a decrease in their profit margin.
GROWING DEMAND FOR VARIOUS APPLICATIONS CREATES OPPORTUNITIES
Using Plywood in various industries is resulting in the market’s growth. These features are that it can retain its flexibility and strength for the long term, remain the same against chemical, fire, and easy installation, and protect the building from heat and sound. Consequently, this is used in constructing ship hulls and transom panels. Plywood products manufacture decking, seating, flooring, transoms, and other interior construction materials.
Market Segments Covered in Report
By Wood Type
By Number of Ply
By Sales Channel
By Region and Country:
Why is softwood wood type plywood projected to have the largest market share?
Softwood plywood held the largest share in the plywood market, up to 31.0% in 2021. Plywood’s popularity has increased due to its versatility, high-impact chemical resistance, resistance, durability, stiffness, high structural stability, and dimensional surface stability.
Softwood plywood is a manufactured wood that can be found in many forms. It is used for various uses, including decking and other exterior applications. Softwood plywood is suitable for building and construction projects such as boats, decks, sheds, and garages. The high tensile strength and density make it an ideal material for structural applications requiring high handling strength and resistance to moisture, oxygen, and humidity.
Why is the MR grade segment expected to expand the fastest during the forecast period?
The MR grade is expected to expand the fastest during the forecast period. MR stands for moisture resistance and comprises a higher density of vertical panels than other grades. This grade has excellent internal strength, which is also the highest among all Plywood grades.
This property is considered ideal for use in construction, kitchen rooftops, wardrobes, doors, etc. MR grade plywood is best suited for indoor services like construction, kitchen rooftops, cabinets, and doors. It has good internal strength, the highest amongst all grades of Plywood. It is comparatively cheaper than waterproof Plywood.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Some of the key developments that have taken place in the Plywood Market include:
A list of some of the key suppliers present in the market are:
Global Plywood Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Size, Thickness, Grade, Wood Type, Number of Ply, Sales Channel, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 5.8%.
The industry is primarily driven by rising disposable incomes, a growing population, increased construction activity, and the expanding furniture sector.
Major global Plywood Market players are Weyerhaeuser Company, Boise Cascade Company, Greenply Industries Limited, Georgia-Pacific, LLC, and Uniply Industries Ltd
The Asia Pacific region is expected to account for the largest market revenue share in the Global Plywood market.
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