Plywood Companies | Forecast by 2033

03 Sep 2024

Share :

Table of Content

1. Plywood Market Growth, Trends and Report Highlights 2. Market Overview 3. Plywood Market Top Companies 4. Regional Insights 5. Market Potential & Opportunity 6. Plywood Market Highlights 7. Plywood Market News

Plywood Market Growth, Trends and Report Highlights

The global plywood market surpassed USD 85.51 billion in 2023 and is predicted to attain around USD 153.42 billion by 2033, growing at a CAGR of 162.66% during the forecast period. Due to the rising and expanding urbanization, construction activities and infrastructure, manufacturers are investing more for the advanced manufacturing techniques that could improve the quality, durability and versatility.

Market Overview

Plywood is a composite material, a type of engineered wood made from thin layers of wood veneer that is being stacked and glued together in such a way that the grain of each layer is arranged in different direction. This cross-laminating process helps in making the plywood more lightweight, strong and resistant to other materials. It also provides advantages like material stability, thermal insulations and resists the corrosion. Plywood is used in various fields of manufacturing and construction of wood furniture. In construction field plywood is used for roofing, siding, panels, floors and inside buildings it is used for making of cabinets, store displays doors.

Rising Number of Commercial and Residential Areas to Promote the Market’s Growth

The increase in the number of residential and commercial projects is one of the main reasons for the rising demand in the plywood sales. Also, there is an increase demand of plywood for the manufacturing of furniture and construction purposes worldwide due to its stability, strength and resistance to other factors. It is also used for the manufacturing of the walls and the floor coverings.

Additionally, the increase in the people’s living standard is rising the demand for the adoption of the plywood for the residential and commercial purposes, boosting the expansion of the market. Moreover, the rising demand in the furniture and interior design sectors is driving the market growth. Interior designing includes the planning and organizing the businesses and homes, where plywood becomes the popular choice to be used as compared to the raw wood.

Capacity Expansion and Increase in Demand for the Engineered Wood

Many manufactures expand their production capacity in order to increase the business volume. Manufacturers invest more in the developing countries as there is increasing growth potential for the construction and industries. Plywood is in high demand in developing regions due to its durability and cost-effectiveness.

Also the increased government investments in the infrastructure are driving for the adoption of the construction in the new emerging economics which is raising the demand for the plywood sector. Also the growing trend for the waterproof, termite-resistant plywood, fire-retardant plywood and decorative plywood is gaining demand raising the market growth.

• For instance, the Reliance Infrastructure limited announced its new subsidiary called Reliance Jai Properties Private Limited with authorized and paid-up share capital of 1,00,000.

Plywood Market Top Companies

• Potlatch Corporation
• UPM-Kymmene Corporation
• Boise Cascade Company
• Sveza
• Austral Plywood Pty Ltd
• Eksons Corporation Bhd
• Greenply Industries Ltd
• Austin Ply
• Century Plyboards Ltd.
• Metsa Wood

Recent Development by Century Plyboard

Recent Development by Gupta Plywood

Regional Insights

By region, Asia-Pacific dominated the market in 2023 due to the availability of large forest region which leads to the large manufacturing of the woods. Wooden furniture and wood-based products are the main items manufactured due to increase in the number of construction projects that lead to the high demand of plywood manufacturing. For instance, the Northeast Asian region shows a trend towards the adoption of the wood structures and focusing on the zero energy building. India in also expected to drive the market growth during the forecast period to its high consumption of tropical hardwood plywood.

• For instance, the Indian governmnet has approved the scheme of Pradhan Mantri Awas Yojna for the development of 100 smart cities across the country.

North America is observed to grow at a notable rate in the plywood market during the forecast period. The region has seen a resurgence in construction activities, particularly in residential and commercial sectors. As plywood is a fundamental material in construction, its demand has increased significantly. Advances in plywood manufacturing, including better adhesives and treatments that enhance durability and resistance to moisture and pests, have made plywood more appealing to builders and architects. There is a growing preference for sustainable building materials. Plywood, being a renewable resource, aligns well with green building practices, further boosting its adoption.

Market Potential & Opportunity

A push towards the sustainable construction and focus on net zero emission by using the engineered woods like plywood for the construction purposes that helps in reduction of emission by the traditional construction methods. Wood being the renewable resource having low carbon footprint and good-energy absorbing capacity driving for the adoption in the fields of construction. Businesses are also focusing on the push towards the use of sustainable construction that drives the market growth.

For instance, the plywood manufacturer company Garnica created the panels that have similar aesthetic to hardwood benefits of plywood and are affordable and sustainable for the housing purposes and are a cost-effective solution to meet the growing demands.

Plywood Market Highlights

Plywood Market News

• Georgia-Pacific invested into the Camden plywood to modernize and focus on the improvements to the plants dryer and plants stenciling operation with the help of robot technicians.
• Sveza created a unique form of plywood from birch wood that doesn’t conduct electricity. The surface of sveza dielectric plywood is coated with dielectric varnish.
• The Century PLyboards has launched its new wood manufacturing plant and invested around crore into this green field project.

Market Segmentation

By Type

• Hardwood
• Softwood

By Application

• Roofing
• Sliding
• Wall Sheathing
• Flooring
• Transport Equipment
• Material Handling
• Others

By Use

• Rehabilitation
• Construction

Get this report to explore global market size, share, CAGR and trends, featuring detailed segmental analysis and an insightful competitive landscape overview@ https://www.precedenceresearch.com/checkout/4870

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308