Plywood Market Surges: 11.25% CAGR
Evolve Business Intelligence has published a research report on the Global Plywood Market, 2021–2034. The global Plywood Market is projected to exhibit a CAGR of around 11.25% during the forecast period of 2021 to 2034.
Evolve Business Intelligence has recognized the following companies as the key players in the global Plywood Market: Boise Cascade Company, Century Ply board, Eksons Corporation Bhd, Roseburg Forest Products Co., SVEZA, SDS Lumber Company, Greenply Industries, Jaya Tiasa Holdings Berhad, Weyerhaeuser Company and Uniply Industries Ltd.
More Information: https://evolvebi.com/report/plywood-market-analysis/
Market Highlights
The Global Plywood Market is projected to be valued at USD 87.65 Billion by 2034, recording a CAGR of around 11.25% during the forecast period. The Plywood Market refers to the global industry involved in the production, distribution, and sale of plywood, a type of engineered wood product made by gluing together thin layers of wood veneers, with the grain of each layer typically oriented perpendicular to the adjacent layer. This process gives plywood its strength, stability, and resistance to warping, making it a popular choice in various applications.
The plywood market is dynamic, influenced by factors like technological advancements in manufacturing, environmental regulations, and consumer preferences for sustainable and high-quality materials.
The COVID-19 pandemic had a significant impact on the plywood market. Lockdowns and restrictions on movement led to disruptions in the supply chain, causing delays in the availability of raw materials like timber. Many sawmills and veneer production facilities were either shut down or operated at reduced capacity, leading to a shortage of plywood. Many plywood manufacturing plants were forced to shut down or operate at reduced capacity due to health guidelines, labour shortages, and a drop in demand during the initial phase of the pandemic. The construction industry, a major consumer of plywood, experienced a slowdown due to halted projects, reduced investments, and uncertainty in the real estate market. This led to a sharp decline in demand for plywood during the early stages of the pandemic. The trend of home improvement and renovation, driven by remote working and the need for better home environments, continued to support demand for plywood, particularly in residential applications. The pandemic heightened awareness of environmental issues, leading to a greater demand for sustainable and certified plywood products. Consumers and businesses became more conscious of the environmental impact of their purchases, driving demand for plywood from responsibly managed forests.
Segmental Analysis
The global Plywood Market has been segmented based on Type and Application.
Based on Type, the Plywood Market is segmented into Hardwood and Softwood. The Softwood segment is anticipated to dominate the market.
Based on Application, the global Plywood Market has been divided into Construction, Package, Furniture and Others. The Furniture segment is anticipated to dominate the market.
More Information: https://evolvebi.com/report/plywood-market-analysis/
Regional Analysis
The Plywood Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. In North America region, the U.S. is a major consumer and producer of plywood, driven by robust construction and renovation activities, particularly in residential and commercial sectors. The demand for sustainable and high-quality plywood is rising, supported by environmental regulations and green building standards. The U.S. also has a well-developed manufacturing base, though it faces competition from imports. In Europe region, Countries like Germany, France, the UK, and Italy have mature plywood markets with a focus on high-quality and specialized plywood products. The demand is driven by the construction, furniture, and interior design sectors. The European market is influenced by strict environmental regulations and sustainability trends. In Asia-pacific region, China is the largest producer and consumer of plywood globally. The country’s rapid urbanization, large-scale infrastructure projects, and strong manufacturing sector drive significant demand for plywood. China is also a major exporter of plywood, although it faces competition from other countries in the global market. In Latin America region, Brazil has a significant plywood industry with a focus on tropical hardwood plywood. The market is driven by construction and furniture manufacturing, with increasing demand for high-quality and eco-friendly products. The Brazilian plywood industry faces challenges related to environmental regulations and deforestation concerns. The plywood market in the Middle East is influenced by construction and real estate development, particularly in countries like Saudi Arabia, the UAE, and Qatar. The demand for plywood is driven by large-scale infrastructure projects, commercial buildings, and residential construction. In Africa, the plywood market is emerging with growth driven by urbanization and infrastructure development. Countries like South Africa, Kenya, and Nigeria are experiencing increasing demand for plywood in construction and furniture sectors. However, the market faces challenges related to supply chain infrastructure and economic instability.
