Plywood Market Size, Demand by Regions, Industry Outlook, Trends, SWOT Analysis and Forecast 2023-2028
According to IMARC Groups latest report titled “Plywood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The global plywood market size reached US$ 45.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 62.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.27% during 2023-2028.
Plywood represents a type of manufacturing board produced from thin layers of wood veneers, which are glued together at right angles. A thin outer layer of additional materials, including plastic, resin-impregnated paper, fabric, Formica, etc., can be added to the face and back veneers to enhance durability. These components can prevent the plywood from moisture, abrasion, corrosion, etc., and facilitate better binding of paints and dyes. Presently, numerous types of plywood are commonly available, which are designed with low toxicity, enhanced durability, improved aesthetics, environmental sustainability, etc. Consequently, they are extensively utilized in several industries, such as construction, marine, commercial, etc.
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Global Plywood Market Trends:
The increasing number of housing projects is among the primary factors stimulating the plywood market. Moreover, the escalating demand for this type of manufacturing board, owing to its high structural strength, flexibility, resistance against chemicals and fire, etc., is further catalyzing the market growth. Apart from this, the widespread adoption of plywood to produce doors, stairs, external cladding, flooring, framing, interior rails and balustrades, internal paneling, timber joinery products, etc., is acting as another significant growth-inducing factor. Furthermore, it is also used in the marine sector across countries, as it withstands occasional exposure to seawater without decaying and deteriorating, which is positively influencing the global market. Besides this, continuous technological advancements by leading companies have reduced manufacturing costs and enhanced profitability and the quality of plywood products, thereby propelling the plywood market growth. Additionally, the inflating popularity of the go-green strategy is anticipated to fuel the plywood market over the forecasted period.
Plywood Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the plywood market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Georgia-Pacific LLC
- PotlatchDeltic Corporation
- Weyerhaeuser Company Ltd.
- Boise Cascade Company
- UPM-Kymmene Oyj
- SVEZA Forest Ltd.
- Metsä Wood (Metsäliitto Cooperative)
- Latvijas Finieris AS
- Austral Plywoods Pty Ltd.
- Eksons Corporation Berhad (BHD)
Key Market Segmentation:
The report has segmented the global plywood market on the basis of residential and commercial application, new construction and replacement sector and region.
Breakup by Residential and Commercial Application:
- Residential
- Commercial
Breakup by New Construction and Replacement Sector:
- New Construction
- Replacement
Breakup by Region:
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)
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This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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