Plywood Market Size, Industry Analysis, Trends, Key Players, Latest Insights and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases 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 is a type of engineered wood product that is widely used in various industries and applications. It is made by layering thin sheets of wood veneer, known as plies or layers, and bonding them together with adhesives under high pressure and heat. Each layer is typically placed with the grain direction alternating between adjacent layers, providing strength, stability, and resistance to warping. One of the key advantages of plywood is its versatility. It is available in different thicknesses, sizes, and grades, allowing it to be tailored to specific requirements. Plywood can be easily cut, shaped, and drilled, making it suitable for a wide range of applications in construction, furniture manufacturing, packaging, and more. Plywood is known for its dimensional stability, meaning it remains relatively unaffected by changes in temperature and humidity. This makes it less prone to warping, shrinking, or expanding compared to solid wood. The layered structure of plywood gives it consistent strength and stiffness, allowing it to withstand heavy loads and structural stresses. Additionally, plywood can be manufactured with specialized features such as fire resistance, moisture resistance, and enhanced durability. This makes it suitable for specific applications where these properties are required.

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Plywood Market Trends:

The expansion of the construction industry represents one of the key factors driving the growth of the market across the globe. This is primarily attributed to the high usage of plywood in the construction of residential, commercial, and industrial buildings for applications such as roofing, flooring, wall paneling, and formwork, which is driving the market growth. In line with this, the increasing construction activities, infrastructure development projects, and rapid urbanization, particularly in emerging economies, are contributing to the growth of the market. Apart from this, the widespread adoption of plywood in the furniture manufacturing industry for making a variety of furniture items, including cabinets, tables, chairs, shelves, and beds, is acting as a major growth-inducing factor. The market is also driven by changing consumer lifestyles, along with evolving interior design trends and the rising demand for customized furniture. In addition to this, increasing renovation and rising number of remodeling projects, both in the residential and commercial sectors, are facilitating the growth of the market. The utilization of plywood for replacing old flooring, repairing, and constructing walls, and creating decorative elements are increasing the demand for plywood, which, in turn, is driving the growth of the market. In line with this, the rising use of plywood in the packaging industry, particularly for heavy-duty packaging applications and the transportation of goods is facilitating the growth of the market. Moreover, the rising industries, such as logistics, e-commerce, and manufacturing are driving the demand for plywood in packaging applications, which, in turn, is boosting the growth of the market. Other factors, including the accessibility of plywood through global supply chains, the ease of import and export, increasing awareness about environmental sustainability, rising preference for plywood over traditional wood, and technological advancements in plywood manufacturing processes, such as improved bonding techniques and surface treatments, are creating a positive outlook for the market across the globe.

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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 playerrs 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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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

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