The plywood market is projected to reach USD 73.3 billion by 2027, at a CAGR of 6.2%. Due to its many beneficial qualities, plywood is a material that is utilized in construction on a large scale. It is an economical sheet of wood that is manufactured in a factory and has accurate measurements that does not warp or crack when in atmospheric moisture. Plywood can be categorized in several ways, and these classifications are typically based on the different characteristics of plywood, such as the type of wood used, the number of plies it has, whether it is suitable for use indoors and outdoors, how well it meets quality standards, and the purposes for which it is intended.
Source: Interviews with Experts, Secondary Research, and MarketsandMarkets Analysis
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Capacity expansion is one of the strategies used by many manufacturers to increase business volume. Increasing demand always necessitates elevated production capacity, but it should also be understood in terms of a critical zone of the value chain, which is an investment. As a result, capacity must be defined in terms of process machinery and manpower. Manufacturers generally pursue a "lead capacity strategy," looking for developing countries that will serve as future industrial hubs. Most developing countries have a lot of room for development, construction, and new industrial setup, and plywood is in high demand due to its cost-effectiveness and durable nature. Though the initial setup cost is quite high, many manufacturers are opting for production capacity expansion after observing immense market potential and long-term ROI.
Over the years, the price of plywood fluctuates a lot which affects both distributors and consumers. The end-use industry is demanding more reliable, high-quality, and price-centric products and MDF is one of them. Medium-density fiberboard (MDF) is a type of engineered wood. MDF board is created by slicing softwood and hardwood into tiny pieces and combining them with wax and a resin binder under high temperature and pressure. With the assistance of a panel, it is given the appearance of a board. MDF is generally less expensive than other types of plywood and is probably one of the prominent factors for the tremendous growth in Asia Pacific market. MDF has a relatively flat surface, which makes it ideal for painting. Because MDF is fairly uniform throughout, cut edges will be smooth and free of voids and splinters. Because of the clean edges, you may make ornamental edges using a router and these are some attributes that hinder the growth of plywood over the forecasted period.
Currently, the plastics market has been affected due to the rise in the cost of feedstock prices. The high cost of feedstock will increase the cost of intermediate and finished goods. The plastic value chain is more circular, and recycled plastics can be more price competitive. Financial incentives to limit the use and promote circularity can be created by policies like plastics fees and recycled content targets. Several countries have lately reinforced regulations to simultaneously push supply and pull demand through recycled content targets in order to support secondary plastics markets. Positive indicators that these measures are assisting in bolstering secondary markets include the recent decoupling of prices for primary and secondary polyethylene terephthalate (PET) in Europe and rising innovation in recycling technology. The use of recycled plastic will bring down the price of finished goods, which will make the end product more economical and preferable.
The covid-19 pandemic has created a lot of uncertainty for stakeholders in the construction and infrastructure development industries. To survive in such a situation, businesses can form a public-private partnership which would enable them to win new contracts, generating huge demand for new vehicles and propelling the plywood market forward. This method is widely used in numerous countries, and it is gaining popularity in the United States as a result of its application in large-scale projects. Furthermore, coordination between government and business sector partners can save millions of dollars and this is being followed in developing countries such as India. In the previous decade and a half, India has seen a significant increase in PPPs. Due to many policies and institutional measures implemented by central as well as many state governments, it has emerged as one of the world’s major PPP markets. This in turn trickles down to plywood demand growth as well, as they find application in almost all major end-use industries namely packaging, building & construction, and housing to name a few.
The rehabilitation use type segment is expected to register the highest CAGR during the forecast period. Rehabilitation and sustainability complement each other in the sense that new uses are created for existing structures, avoiding disposal and the associated environmental effect. According to research undertaken in Rio de Janeiro and So Paulo, the culture of new construction still dominates, despite the relevant inventory of existing structures. Knowledge dissemination on rehabilitation procedures might support the development of strategies for implementing these practices in the worldwide market.
The rehabilitation of buildings is one of the areas with a growing market in multifarious countries, especially in large urban centers where there is a low inventory of land available for new construction. The building rehabilitation and maintenance market are one of the most important economic sectors in construction, especially in the most developed societies. For instance, Europe is one of the prominent rehabilitation and maintenance markets due to its old infrastructural design.
Hardwoods are angiosperm trees that reproduce with a flowering plant, such as oak, walnut, and maple. Hardwood trees, which can be found in temperate and tropical forests all over the world, are usually deciduous, with wide leaves that change colour and fall off in the autumn and winter. Each of these leaves has a network of tiny veins. A hardwood's structure is often more complicated than that of a softwood. Hardwood trees develop more slowly than softwood ones. Hardwood might take many years to mature before it is suitable for harvest, resulting in more thick, heavy, and long-lasting lumber.
While hardwood flooring is the most typical application, it may also be used for cladding, paneling, cabinets, fences, boats, and outdoor decking. Hardwoods are more difficult to work with and perform best in high-traffic applications like flooring and furniture.
The Asia Pacific region is the largest market for plywood across the globe. Asia Pacific is the largest market for plywood, and this dominance is expected to continue during the forecast period. High economic growth rate, growing manufacturing industries, cheap labour, and global shift of consumption and production capacity from the developed markets to the emerging markets in the region are the factors leading to the growth of the plywood market in Asia Pacific. The demand for high-quality products, the rising population, and the growing end-use industries have led to a surge in demand for consumer wood.
Asia Pacific is the fastest-growing plywood market, which is driven by high economic growth and heavy investments in building & construction, industrial, and housing development. Its growing middle-class population plays an important role in driving various industries, which has led to industrialization in the region. Asia Pacific shows tremendous growth over the period in multifarious end-use industries like automotive, healthcare, building & construction, and packaging to name a few. Prime manufacturers in this region concentrate more on accelerated growth and penetration of online sales to open newer avenues of revenue generation in untapped markets. Companies are constantly investing in disruptive techniques to make more beneficiary and cost-effective supply chain systems and market leaders introducing enterprise risk management systems in their manufacturing ecosystem which enables an organization to identify, assess, quantify, and manage risk in one centralized platform.
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For decades, plywood has been one of the most well-known and trusted wood building materials in the region. Plywood panels have superior dimensional stability and an excellent strength-to-weight ratio, and are highly resistant to impacts, chemicals, and changes in environmental temperature and humidity. They are made from thin sheets of cross-laminated veneer and bonded under heat and pressure with strong adhesives. Plywood is offered in a broad range of aesthetic grades, from smooth, natural surfaces appropriate for finish work to more affordable sheathing qualities. Plywood is well-suited to a wide range of demanding applications, with over a dozen typical thicknesses and over twenty various grades. Although many manufacturing plants for plywood have shifted to Asia Pacific to benefit from low-cost labour, North America remains one of the largest consumers of plywood.
Boise Cascade Company (US), Weyerhaeuser Company Ltd (US), Upm-Kymmene Oyj (Finland), Sveza Forest Ltd (Russia), Austral Plywoods Pty Ltd (Australia), Potlatchdeltic Corporation (US), Greenply Industries (India), Metsä Wood (Metsäliitto Cooperative) (Finland), Centuryply (India), Austin Plywood (India) are the key players operating in the global market.
Years considered for the study
Value (USD Billion)
Type, Application, and Use Type
Asia Pacific, North America, Europe, the Middle East & Africa, and South America
Boise Cascade Company (US), Weyerhaeuser Company Ltd (US), Upm-Kymmene Oyj (Finland), Sveza Forest Ltd (Russia), Austral Plywoods Pty Ltd (Australia), Potlatchdeltic Corporation (US), Greenply Industries (India), Metsä Wood (Metsäliitto Cooperative) (Finland), Centuryply (India), Austin Plywood (India)
This research report categorizes the plywood market based on type, application, use type, and region.
What is the estimated industry size of plywood market?
The plywood market attained $54.2 billion in 2022 and is projected to reach $73.3 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2027.
What is the leading application segment in the plywood market?
The construction segment is the leading application in the plywood market.
Who are the key players in the global market of plywood?
Georgia Pacific LLC (US), Boise Cascade Company (US), Weyerhaeuser Company Ltd (US), UPM-Kymmene Oyj (Finland), Svezza Forest Ltd (Russia), PotlatchDeltic Corporation (US), Greenply Industries Ltd (India), Century Plyboards India Ltd. (India), Austral Plywoods (Australia), and others are identified as the key manufacturers in the plywood market.
Which is the largest regional market for plywood?
Asia-Pacific is the largest regional market for plywood.
Does this report covers the new applications of plywood market?
Yes the report covers the new applications of plywood.
Does this report covers different type of plywood?
Yes the report covers different types of plywood.
Does report covers the volume tables in addition to value tables?
Yes the report covers the market both in terms of volume as well as value.
What is the current competitive landscape in the plywood market in terms of new applications, production, and sales?
The market has various large, medium, and small-scale players operating across the globe. Many players are constantly innovating and developing new products and expanding to developing countries where the demand is constantly growing; thereby boosting sales.
Which all countries are considered in the report?
US, China, Japan, Germany, UK and France are major countries considered in the report. .
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TABLE OF CONTENTS
1.1 OBJECTIVES OF STUDY
1.2 MARKET DEFINITION
1.2.1 MARKET INCLUSION
1.2.2 MARKET EXCLUSION
1.3 MARKET SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 YEARS CONSIDERED FOR STUDY
1.5 UNIT CONSIDERED
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.2 MARKET SIZE ESTIMATION
2.3 DATA TRIANGULATION
2.4 RISK ANALYSIS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
5.2 MARKET DYNAMICS
5.3 PORTER’S FIVE FORCES ANALYSIS
5.3.1 THREAT OF SUBSTITUTES
5.3.2 BARGAINING POWER OF BUYERS
5.3.3 THREAT OF NEW ENTRANTS
5.3.4 BARGAINING POWER OF SUPPLIERS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 MACRO ECONOMIC INDICATOR ANALYSIS
5.4.2 TRENDS AND FORECAST OF GDP
5.5 INDUSTRY ECOSYSTEM
5.6 YC AND YCC SHIFT
5.8 PATENT ANALYSIS
5.9 CASE STUDY ANALYSIS
5.10 TECHNOLOGY ANALYSIS
6 PLYWOOD MARKET, BY TYPE
7 PLYWOOD MARKET, BY APPLICATION
7.1.3 WALL SHEATHING
7.1.5 FINISH FLOORING
7.2.1 MATERIAL HANDLING PRODUCTS
7.2.2 TRANSPORT EQUIPMENT
7.2.3 OTHER INDUSTRIAL APPLICATIONS
8 PLYWOOD MARKET, BY USES TYPE
8.1 NEW CONSTRUCTION
9 PLYWOOD MARKET, BY REGION
9.2 ASIA PACIFIC
9.2.3 SOUTH KOREA
9.2.8 REST OF ASIA PACIFIC
9.3.7 REST OF EUROPE
9.4 NORTH AMERICA
9.5 MIDDLE EAST & AFRICA
9.5.1 SAUDI ARABIA
9.5.4 REST OF THE MIDDLE EAST & AFRICA
9.6 SOUTH AMERICA
9.6.3 REST OF SOUTH AMERICA
10 COMPETITIVE LANDSCAPE
10.2 MARKET SHARE ANALYSIS/KEY PLAYERS BY REGION
10.3 KEY PLAYER STRATEGIES
10.4 COMPANY REVENUE ANALYSIS
10.5 COMPETITIVE LEADERSHIP MAPPING, 2021
10.6 STRENGTH OF PRODUCT PORTFOLIO
10.7 BUSINESS STRATEGY EXCELLENCE
10.8 COMPETITIVE SCENARIO
11 COMPANY PROFILES
11.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, Deals, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats) *
11.1.1 GEORGIA-PACIFIC LLC
11.1.2 BOISE CASCADE COMPANY
11.1.3 WEYERHAEUSER COMPANY LTD.
11.1.4 UPM-KYMMENE OYJ
11.1.5 SVEZA FOREST LTD.
11.1.6 POTLATCHDELTIC CORPORATION
11.1.7 GREENPLY INDUSTRIES
11.1.8 METSÄ WOOD (METSÄLIITTO COOPERATIVE)
11.1.9 CENTURY PLY
11.1.10 AUSTRAL PLYWOODS PTY LTD.
*Details on Business Overview, Products Offered, Recent Developments, Deals, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats might not be captured in case of unlisted companies.
11.2 OTHER KEY PLAYERS
11.2.1 AUSTIN PLYWOOD
11.2.2 LATVIJAS FINIERIS AS
11.2.3 KITPLY INDUSTRIES LTD
11.2.4 KAJARIA PLYWOOD PVT.LTD.
11.2.5 MERINO INDUSTRIES LTD.
11.2.6 GLOBE PANEL INDUSTRIES
11.2.7 UNIPLY INDUSTRIES LTD.
11.2.8 DUROPLY INDUSTRIES
11.2.9 UFP INDUSTRIES INC.
11.2.10 MURPHY PLYWOOD
11.2.11 WEST FRASER TIMBER CO. LTD.
11.2.12 ROY O. MARTIN
11.2.13 FORMWOOD INDUSTRIES
11.2.14 ARCHELA CONTRACHAPADOS SL
11.2.15 MIRALUZ INDUSTRY AND WOOD LTD
The study involved four major activities in estimating the current market size of plywood. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both supply-side and demand-side approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation methods were used to estimate the size of the segments and subsegments of the overall market.
This research report involves the use of extensive secondary sources, directories, and databases, such as Bloomberg, BusinessWeek, Factiva, ICIS, and OneSource to identify and collect information useful for the technical, market-oriented, and commercial study of the plywood market. The secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, and articles from recognized authors, authenticated directories, and databases.
The plywood market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations. The demand side of this market is characterized by the development of the construction industry and its end uses such as Furniture, industrial, and packaging. The supply side included industry experts, such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from various companies and organizations operating in the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Following is the breakdown of primary respondents:
Notes: Companies are classified based on their revenue–Tier 1 = >USD 7 billion, Tier 2 = USD 500 million to USD 7 billion, and Tier 3 = Others include sales, marketing, and product managers. To know about the assumptions considered for the study, download the pdf brochure In the market engineering process (which includes calculations for market statistics, market breakdown, market size estimations, market forecast, and data triangulation), both the top-down and bottom-up approaches have been extensively used, along with several data triangulation methods to gather, verify, and validate the market figures arrived at. Extensive qualitative and quantitative analyses have been performed on the complete market engineering process to provide key information/insights throughout the report. The research methodology used to estimate the market size included the following steps: Source: Secondary Research, and Interviews with Experts To know about the assumptions considered for the study, Request for Free Sample Report After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and sub-segments. Data triangulation and market breakdown procedures have been used wherever applicable to complete the overall market engineering process and to arrive at the exact statistics for all the segments and sub-segments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market has been validated using both the top-down and bottom-up approaches. Then, it was verified through primary interviews. Hence, for every data segment, there are three sources — the top-down approach, the bottom-up approach, and expert interviews. Only when the values arrived at from the three points matched, the data has been assumed to be correct. MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data. The following customization options are available for the report:
Plywood Market Size Estimation
Global Plywood Market Top-Down Approach
Plywood Market Data Triangulation
Plywood Market Report Objectives
Plywood Market Report Available Customizations
Others include sales, marketing, and product managers.
To know about the assumptions considered for the study, download the pdf brochure
In the market engineering process (which includes calculations for market statistics, market breakdown, market size estimations, market forecast, and data triangulation), both the top-down and bottom-up approaches have been extensively used, along with several data triangulation methods to gather, verify, and validate the market figures arrived at. Extensive qualitative and quantitative analyses have been performed on the complete market engineering process to provide key information/insights throughout the report. The research methodology used to estimate the market size included the following steps:
Source: Secondary Research, and Interviews with Experts
To know about the assumptions considered for the study, Request for Free Sample Report
After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and sub-segments. Data triangulation and market breakdown procedures have been used wherever applicable to complete the overall market engineering process and to arrive at the exact statistics for all the segments and sub-segments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market has been validated using both the top-down and bottom-up approaches. Then, it was verified through primary interviews. Hence, for every data segment, there are three sources — the top-down approach, the bottom-up approach, and expert interviews. Only when the values arrived at from the three points matched, the data has been assumed to be correct.
MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data.
The following customization options are available for the report: