Australia & New Zealand Plywood Market Size was valued at USD 1,061.6 Million in 2023. The Plywood industry is projected to grow from USD 1,108.0 Million in 2024 to USD 1,555.7 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.3% during the forecast period (2024 - 2032).
The Australia & New Zealand Plywood market growth is expected to be driven by key factors such as the rising number of residential and commercial projects and Increasing demand from end-user industries. On the other hand, factors such as Increasing government spending in the construction industry poses lucrative opportunities for the Australia & New Zealand Plywood market during the forecast period.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The rising number of residential and commercial projects is one of the prime drivers for the Australia and New Zealand plywood market. There is a surging demand for plywood for the manufacturing of construction materials and furniture across the regions. The excellent features of plywood such as high strength, more reliability, enhanced stability, and improved impact resistance make it ideal for used in residential and commercial spaces. In addition, plywood is also used to manufacture floor and wall coverings in residential and commercial spaces. Furthermore, the growing adoption of plywood in residential and commercial areas due to increasing living standards, along with inflating income levels of individuals, is positively influencing the market. Furthermore, the rising fundings for residential and commercial projects will further drive the market growth over the projected timeline. For instance, in January 2024, Australian government’s Housing Australia Future Fund Facility (HAFFF) and National Housing Accord Facility (NHAF) has announced to develop 30,000 social and affordable homes in the next five years.
The increasing demand of plywood from various end-used industries such as Furniture, Construction and Building, Flooring, Cabinetry, Automotive Interiors, Packaging, among others will drive the Australia & New Zealand Plywood market growth during the forecast period. The increasing demand for high-quality and designer furniture that does not break easily and provide aesthetically appealing will rise its adoption in Furniture industry. Furthermore, the increasing application of plywood-based products such as almirahs, desks, and cabinets, in commercial and offices applications will further fuel the market growth. In addition, the rising adoption of plywood in manufacturing doors, concrete shuttering, stairs, interior rails, seatings, stringers, framing, external cladding, interior fixtures, and balustrades, internal paneling, and timber joinery products will further offer the lucrative growth opportunities to the market growth. In addition, the construction industry demands plywood for various applications, including flooring, roofing, and wall paneling. Plywood is widely used in the construction industry for its durability, high strength, and cost-effectiveness.
Based on type, the Australia & New Zealand Plywood market segmentation includes softwood plywood and hardwood plywood. The softwood plywood segment held the majority plywood market share in 2023 and is expected to grow at a significant growth rate. Softwood is made from soft woods such as pine, cedar, spruce, or fir. It is used for construction, furniture making, packaging and various DIY projects. Softwood plywood is created by adhering thin layers of wood veneer (plies) to each other, with adjacent layers rotated 90 degrees. The use of this crossover technology enhances the strength and stability of the final product. They are often chosen for price, availability, and convenience. The strength and durability of softwood flooring can vary depending on factors such as the type of wood used, the number of layers, and the manufacturing process.
Figure 1: Australia & New Zealand Plywood Market, by type, 2023 & 2032 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Australia & New Zealand plywood market segmentation, based on application, includes furniture, flooring & construction, automotive interiors, packaging, and others. The flooring & construction segment dominated the Plywood market in 2023 and is expected to continue dominating the Plywood industry during the forecast period 2024-2032. During the construction of concrete roads or floors, plywood is a commonly used material because of its useful physical properties. It makes up the basic formwork and gives the concrete a necessary shape. Plywood is also ideal for usage on floors in various configurations; for example, plywood can be unattached to the concrete subflooring. The decorative and aesthetic physical properties of plywood are also useful in this context. Plywood is used in interior and exterior wall sheathing because of its smoothness, as well as an aesthetic surface, which can be used as a decorative finish.
The end use segment of the plywood market size includes residential, commercial, industrial. The residential segment dominated the plywood market in 2023 and is expected to grow at a significant rate during the forecast period 2024-2032. The residential segment of the plywood covers a different range of applications such as homes, apartments, and other residential buildings. Plywood is used in residential construction and renovation projects. Plywood is amongst the best materials that can be used to create top quality residential furniture. In this furniture, high grade plywood that is polished can be used on external surfaces, while unpolished, low grade plywood can be used to create surfaces that are not visible, such as the underside of cupboards and so on. Furthermore, in furnishings that require glass or metal, such as coffee tables, plywood can be used to create finishes that match the upholstery or furnishing of the house. This makes it not only practical, but also visually appealing. Beautifully constructed plywood furniture may drastically change the appearance of a home, making it more beautiful.
By country, the plywood market report provides market insights into Australia and New Zealand. Plywood market in Australia is growing tremendously in recent years with several factors shaping the market. Plywood in Australia widely used in different structural applications such as flooring, wall sheathing, and roofing purposes. Australia’s healthy construction sectors, urbanization and population growth has been a major driver of demand for plywood products. Furthermore, trends of the country’s towards building renovation and remodeling projects in residential, commercial, and industrial sectors have fueled the demand for plywood for interior and exterior applications. Moreover, several manufacturers such as Austral Plywood, Plywood Australia, and Maxi ply has been focused on technological advancements in their manufacturing processes for production of high-quality plywood products with improved strength, durability, and dimensional stability. Additionally, sustainable, and ecofriendly forestry practices further fueled the Australian market.
Figure 2: Australia & New Zealand Plywood Market Size By country 2023 & 2032 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
New Zealand is the leading region for the production of structural plywood and have been exporting their products to different international markets, particularly in the Asia-Pacific province. Demand from countries like China, Vietnam, Japan, and other country has provided significant growth opportunities for the industry in the country. For instance, New Zealand has exported $6.64 billion forestry products in 2022 and among of total 54% forestry exports went to China only. Technological advancements in plywood manufacturing processes have enabled the production of high-quality, value-added plywood products. Innovations in adhesive technologies, veneer grading systems, and manufacturing equipment have improved product performance, durability, and efficiency. Manufacturers such as IPL Plywood Ltd, CHH Plywood, Plywood City have been continuously working to create the country’s highest quality plywood products for architectural, construction, and others specialty uses.
The key players operating in the Australia & New Zealand plywood market include UPM-Kymmene (Wisa Plywood), Koskisen, Metsä Group, CHH Plywood, Big River Group (Ausply), Plywood Australia Pty Ltd., Austral Plywoods, Plyco, Auswood International Pty Ltd., IPL (International Panel and Lumber) Plywood Ltd., among others. The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have a strong reach Australia & New Zealandly along with diverse product portfolios. Companies such as UPM-Kymmene (Wisa Plywood), Koskisen, Metsä Group, CHH Plywood, Big River Group (Ausply) dominate the market due to brand reputation, product differentiation, financial stability, and diversified regional presence. The market is highly dynamic, fragmented, and competitive due to the presence of several international, regional, and local players that offer a comprehensive range of plywood. The market is highly competitive, with all the players continually competing to gain a larger market share. Companies across Australia and New Zealand are implementing several growth initiatives to capitalize on the growing plywood market. The players are investing in research and development and adopting strategic growth initiatives such as investments, mergers and acquisitions, product launches, and expansions to strengthen their market position and capture a large customer base.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 1,061.6 Million |
| Market Size 2024 | USD 1,108.0 Million |
| Market Size 2032 | USD 1,555.7 Million |
| Compound Annual Growth Rate (CAGR) | 4.3% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2022 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | type, application, end use, and country |
| Geographies Covered | Australia and New Zealand |
| Countries Covered | Australia and New Zealand |
| Key Companies Profiled | UPM-KYMMENE (Wisa Plywood), Koskisen, Metsa Group, CHH Plywood, Big River Group, Plywood Australia Pty Ltd, Austral Plywoods, Plyco, Auswood International Pty Ltd, and IPL Plywood Ltd |
| Key Market Opportunities | ·      Increasing government spending in the construction industry |
| Key Market Dynamics | ·      The rising number of residential and commercial projects ·      Increasing demand from end user industries |
Frequently Asked Questions (FAQ) :
The Australia & New Zealand Plywood Market size was valued at USD 1,061.6 Million in 2023.
The Australia & New Zealand market is projected to grow at a CAGR of 4.3% during the forecast period, 2024-2032.
Australia had the largest share of the Australia & New Zealand Plywood market in 2023.
The key players in the market are UPM-KYMMENE (Wisa Plywood), Koskisen, Metsa Group, CHH Plywood, Big River Group, Plywood Australia Pty Ltd, Austral Plywoods, Plyco, Auswood International Pty Ltd, and IPL Plywood Ltd, among others.
The softwood plywood segment dominated the Plywood market in 2023.
Residential had the largest revenue share of the Australia & New Zealand Plywood market in 2023.
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Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.Â
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