Global Plywood Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

Plywood Market Outlook

Global Plywood Market Size is anticipated to reach US$ 83.51 Billion by 2030, according to Renub Research. Plywood is a flat sheet made from wood veneers glued together. While it can be adapted to various uses, the standard product comprises at least three plies, with the grooves in the alternate plies crossing at right angles. Plywood is a highly adaptable material utilized for various structural, interior, and external applications ranging from framework to internal paneling. Plywood can withstand a relatively uncommon short-term overload of up to double the design capacity as a wood-based material. This is important in areas where earthquake activity or hurricanes usually occur. This property can also be utilized to create construction flooring or concrete structures.

The increasing demand for plywood market price due to the growing number of distribution networks and exclusive outlets of premium furniture manufacturers represents one of the primary factors positively influencing the market worldwide. The rising integration of technologically advanced production methods to manufacture plywood with improved features, such as flexible plywood, propels the market's growth. The growing utilization of plywood for making partitions and false ceilings in houses and office spaces offers a favorable market outlook globally.

Global Plywood Market is expected to grow at a CAGR of 6.06% from 2024 to 2030

There is a rise in the demand for eco-friendly, cost-efficient, durable, smooth, and flexible materials among individuals worldwide. This, coupled with various technological advancements in plywood to increase its flexibility and resistance properties, contributes to the market's growth. The increasing Application of plywood-based products, such as desks, almirahs, and cabinets, in offices and commercial areas worldwide is bolstering the market's development.

The increasing demand for designer and high-quality furniture that does not break easily and provides aesthetic appeal among the masses and the inflating income level of individuals worldwide is propelling the market's growth. In addition, the rising employment of plywood in manufacturing concrete shuttering, doors, stairs, stringers, seating’s, framing, interior fixtures, external cladding, interior rails and handrails, internal paneling, and timber joinery products is offering lucrative growth opportunities to industry investors. Moreover, the growing awareness about using environment-friendly products that lower the amount of carbon emissions across the globe is offering a favorable market outlook. The rise in spending on interior designing and the growing interest of homeowners in home decor and aesthetic furnishings, particularly in developed and high-income countries such as the United States, Canada, France, and Japan, is affecting plywood sales. Furthermore, due to the easy availability of raw materials and cheap labor, the large consumption and production of plywood in countries like China and India are driving market growth. Global Plywood Market was valued at US$ 55.33 Billion in 2023.

Softwood's market share will dominate in the upcoming years

By Type, Global Plywood Market is segmented into Hardwood and Softwood. The softwood segment will lead the market, securing the most substantial revenue share over the entire forecast period. As demands for softwood products continue to rise, driven by various industries such as construction, furniture, and packaging, this segment stands at the forefront. Its dominance is attributed to softwood's versatility, durability, and widespread applications in diverse sectors. With a consistent and robust market presence, the softwood segment is anticipated to play a pivotal role in shaping the market landscape, meeting the evolving needs of industries, and contributing significantly to overall market revenue.

Mr. Grade (Moisture Resistant) captured the highest market in the Plywood industry globally

By Grade, Global Plywood Market is divided into Mr. Grade (Moisture Resistant), Bwr Grade (Boiling Water Resistant), Fire Resistant Grade, Structural Grade, and Others. The MR-grade plywood segment is experiencing a remarkable surge in revenue growth over the forecast period. This is due to its exceptional strength, durability, and moisture resistance properties, which make it an ideal choice for furniture and other interior fixtures in the construction industry. With the increasing demand for high-quality and designer furniture that provides aesthetic appeal and longevity, the MR-grade plywood market is witnessing substantial growth. Moreover, the growing awareness about using eco-friendly products further drives the demand for this plywood segment. These factors are expected to propel the growth of the MR-grade plywood segment in the coming years.

Construction segment dominates the Plywood market with the largest share

By Application, the Global Plywood Market is classified into Construction, Furniture, Packaging, Flooring, Transport, Decoration, and Others. The construction segment has emerged as the dominant player in the plywood market, holding the largest market. Plywood is a versatile material widely used in the construction industry for its high strength, durability, and cost-effectiveness. The construction industry demands plywood for various applications, including roofing, flooring, and wall paneling. With the increasing focus on infrastructural development and urbanization, the demand for plywood in the construction segment will remain high in the coming years. Furthermore, the growing trend of eco-friendly construction practices drives the demand for sustainable plywood products, creating new opportunities for the market players.

China Plywood market is expected to dominate throughout the forecast period

By Company, Global Plywood Market is split into North America (United States, Canada and Mexico), Europe (United Kingdom, France, Germany, Italy, Netherland, Belgium, Spain, Switzerland, Turkey), Asia Pacific (India, China, Japan, South Korea, Indonesia, Malaysia, Hong Kong, Australia, New Zealand), South America (Brazil & Argentina), Middle East & Africa (Saudi Arabia, Israel, South Africa) and Rest of World. The plywood market in China has been witnessing steady growth over the years, owing to the country's thriving construction industry. The use of plywood is widespread in the construction sector for its versatility, high strength, and cost-effectiveness. China's plywood market is expected to maintain its dominance over the entire forecast period, driven by the increasing demand for plywood in the construction industry. Moreover, the growing trend of eco-friendly construction practices in the country is further fueling the demand for sustainable plywood products, creating new opportunities for market players. The plywood market is also witnessing a shift towards advanced manufacturing technologies, expected to drive growth in the coming years.

Key Player

Boise Cascade, Weyerhaeuser Company Ltd, UPM-Kymmene, Potlatchdeltic Corporation, Metsä Board, Century Plyboards Ltd, and Greenply Industries Ltd are prominent player covered in the global plywood market report.

Renub Research new report titled "Global Plywood Market & Volume" By Type (Hardwood and Softwood), By Grade (Mr Grade (Moisture Resistant), Bwr Grade (Boiling Water Resistant), Fire Resistant Grade, Structural Grade and Others), By Application (Construction, Furniture, Packaging, Flooring, Transport, Decoration and Others), Country (North America (United States, Canada and Mexico), Europe (United Kingdom, France, Germany, Italy, Netherland, Belgium, Spain, Switzerland, Turkey), Asia Pacific (India, China, Japan, South Korea, Indonesia, Malaysia, Hong Kong, Australia, New Zealand), South America (Brazil & Argentina), Middle East & Africa (Saudi Arabia, Israel, South Africa) and Rest of World), Company Analysis (Boise Cascade, Weyerhaeuser Company Ltd, UPM-Kymmene, Potlatchdeltic Corporation, Metsä Board, Century Plyboards Ltd and Greenply Industries Ltd). provides current trends of the Worldwide Plywood Industry.

Type – Market breakup of 2 viewpoint

1.    Hardwood
2.    Softwood

Grade – Market breakup of 5 viewpoint

1.    Mr Grade (Moisture Resistant)
2.    Bwr Grade (Boiling Water Resistant)
3.    Fire Resistant Grade
4.    Structural Grade
5.    Others

Application – Market breakup of 7 viewpoint

1.    Construction
2.    Furniture
3.    Packaging
4.    Flooring
5.    Transport
6.    Decoration
7.    Others

Country – Breakup of 27 country Plywood market

1.    North America

1.1    United States
1.2    Canada

2.    Europe

2.1    United Kingdom
2.2    France
2.3    Germany
2.4    Italy
2.5    Netherland
2.6    Belgium
2.7    Spain
2.8    Switzerland
2.9    Turkey

3.    Asia Pacific

3.1    India
3.2    China
3.3    Japan
3.4    South Korea
3.5    Indonesia
3.6    Malaysia
3.7    Hong Kong
3.8    Australia
3.9    New Zealand

4.    Latin America

4.1    Brazil
4.2    Mexico
4.3    Argentina

5.    Middle East & Africa

5.1    Saudi Arabia
5.2    Israel
5.3    South Africa

6.    Rest of World

All companies have been covered from 3 viewpoints

•    Overviews
•    Recent Developments
•    Revenues

Company Analysis

1.    Boise Cascade
2.    Weyerhaeuser Company Ltd
3.    UPM-Kymmene
4.    Potlatchdeltic Corporation
5.    Metsä Board
6.    Century Plyboards Ltd
7.    Greenply Industries Ltd

Report Details: