The growth of the Plywood Market globally is calculated with a value of USD 105.9 million in 2018. And it is also estimated the value of USD144.7 million by the year 2027. Additionally, the growth of the Plywood Market is also calculated with the value of the CAGR of 3.3% during the Plywood Market Forecast period from the year 2018-to 2027.
The plywoods are used in many building materials to provide extra strength and long durability. These plywoods are manufactured from soft and hardwoods. These piles are attached using strong adhesive glues such as urea-formaldehyde resin or phenol.
These plywoods are used in the construction sector to form the light partition or external walls and are also used for the manufacturing of light doors and shutters. Additionally, it is also used in the manufacture of cupboards, kitchen cabinets.
The spread of the pandemic across the world during 2020, has brought drastic changes in the growth of the manufacturing companies and industries. Because of the spread of the pandemic across the globe maximum number of industries have shut down. Also, the government have used many tricks to reduce the spread of the pandemic. Though it was successfully brought drastic changes in the industries and the manufacturing companies. People were advised to stay in their homes and also to flow the precaution to stay away from the virus.
Due to the pandemic, the Plywood Market Value also decreased, as there was no process in the construction sectors across the globe. As the construction sector was shut down due to the lack of raw materials and the lack of labour. So the Plywood industry was also shut down due to the loss in the construction sector. It is believed that the growth of the Plywood Market will be getting better in the post-pandemic days.
The increase in the growth and the development of rising in development of commercial buildings is boosting the fuel to the development of the Plywood Market Share. The benefits of the plywoods are also adding the driving force to the growth of the Plywood Market Size. As they can are used in construction and the flooring application they can bear heavyweight, and also enhance the mechanical strength but possess less weight. It can be easily installed and also can bear the weather and climate change because of its waterproof feature.
Additionally, the usage of Plywood Market is been extended to be used to construct the part of the boat. This is also used in the marine industry.
The usage of the Plywood Market products in various industries is resulting in the growth of the Market. The main feature of plywood is one of the main reasons which creates the growth opportunity. These features are it can retain its flexibility and strength for the long term, also can remain the same against chemical, fire and easy installation and can protect the building from the heat and sound. Due to these properties, this is also used in the manufacture of boats in the marine industries. They are used for the manufacture of the stringers, floor, transom, boat cabinetry, walls and seating additionally interior constructions.
These are some of the growth opportunity which paves the way for the growth of the Plywood Market.
the main restraint which affects the growth of the Plywood Market is the availability of substitute products in the market. Many products are available in the products at a low cost and are used as the substitute for plywoods. The growth of the Plywood Market is hampered by the fluctuation of the cost of the raw materials, it may lead to a negative impact on the growth of the Market.
The increase in the usage of the Plywood Market products has led to the demand for the raw materials in the manufacturing companies. Also because of the spread of the pandemic, there was an unavailability of raw materials. So the manufacturing companies are focusing to retain their market value by getting help from investors. Due to this investment from the investors they can get back to their position in the market by producing a large number of products.
Cumulative growth analysis
The overall growth of the Plywood Market Analysis has increased because of the growth of the need for plywood in the construction sector, marine industries. These plywoods are preferred because of their hard and strong features. Even it will retain its feature even it is exposed to seawater. Moreover, the go green policy for the manufacture of the products is also boosting the growth.
Value chain analysis
Though there are a lot of positive impacts available in the growth of the Plywood Market Outlook, there are also some negative drawbacks that impact the growth. In the market, there is the availability of substitute products for Plywoods. These substitute products are not having long term durability and are also available at a low cost. So people are accepting the substitute products like glass and plastics when compared to plywood.
Market segment overview
North America – US, Canada
Latin America – Mexico, Brazil, Peru, Chile and Others
Western Europe – Germany, UK, France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg
Eastern Europe – Poland, Russia
Asia Pacific – India, Japan, China, ASEAN, Australia, New Zealand
The Middle East and Africa – GCC, Southern Africa, North Africa
The growth of the Plywood Market is because of key players who are concentrating and ruling the market. Some of the main reasons for the growth of the Plywood Market is because of the construction sector and the marine industry. The key players are expecting the investors to invest so that they can increase manufacturing production. The main key players are also expecting to increase their production and business in other regions.
The overall growth of the Plywood Market Trends is been created by the key players in any region. The regions which are focusing on the growth of the Plywood Market are North America, Europe, the Asia Pacific region and the Middle East and Africa.
North America is holding the largest share in the Plywood Market, because of the increase in the construction sectors and the growing countries like the US, Mexico etc. Due to the increase in the growth of the key players in North America is getting gradual development.
The Asia Pacific region is expected to get gradual growth in the forecasting period in the Market. The reason for the growth of the Asia Pacific region is the growth of the construction sector in this region.
Also, regions like Europe and the Middle East and Africa are expecting gradual growth in the upcoming years.
These are some of the key players who are getting the gradual growth and creating the Market Trends.
|CAGR||6.1% (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Grade, Wood Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Weyerhaeuser Company (US), Boise Cascade Company (US), Century Plyboards Ltd. (India), Greenply Industries Limited (India), Georgia-Pacific, LLC. (US), Uniply Industries Ltd (India), JAYA TIASA HOLDINGS BERHAD. (Malaysia), UPM-Kymmene Oyj (Finland), SUBUR TIASA HOLDINGS BERHAD (Malaysia), and Sveza-Les LLC|
|Key Market Opportunities||steadily increasing investment in infrastructure development|
|Key Market Drivers||demand for easy to install and ready-made furniture|
Frequently Asked Questions (FAQ) :
Global plywood market is projected to grow at approximately 3.3% CAGR during the assessment period (2020-2027).
The valuation of the global plywood market is estimated to increase to USD144.7 million by the end of 2027.
Furniture is the largest application segment in the global plywood market.
Increasing demand for easy to install and ready-made furniture and rising urbanization and consumer preference for durable and lightweight furniture, are major tailwinds pushing the growth of the global plywood market.
The Asia Pacific region holds the largest share in the global plywood market, followed by North America and Europe, respectively.
Boise Cascade Company (US), Century Plyboards Ltd. (India), Weyerhaeuser Company (US), Georgia-Pacific, LLC. (US), Greenply Industries Limited (India), Uniply Industries Ltd (India), UPM-Kymmene Oyj (Finland), Jaya Tiasa Holdings Berhad (Malaysia), Subur Tiasa Holdings Berhad (Malaysia), and Sveza-Les LLC (Russia), are some of the top players operating in the global plywood market.