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Marine Plywood Global Market Expected to Reach $19.46 Billion By 2028 with a CAGR of 10.6% | Key Players: UPM Plywood, Potlatch Corporation, SVEZA Group, Greenply Industries Ltd., Swanson Group Inc.
Marine Plywood Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Marine Plywood industry. This report on Marine Plywood market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The marine plywood market size has grown strongly in recent years. It will grow from $11.82 billion in 2023 to $13 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to shipbuilding industry growth, marine infrastructure development, waterfront property construction, marine safety regulations, recreational boating, architectural applications. The marine plywood market size is expected to see rapid growth in the next few years. It will grow to $19.46 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.
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Key Market Players:
UPM Plywood, Potlatch Corporation, Roseburg Forest Products Company, Greenply Industries Ltd., Mampilly Plywood Industries, The Progressive Corporation are prominent players in the Marine Plywood industry.
Market Drivers:
The growing popularity of high-speed and luxurious recreational boats is the key factor driving the growth of the marine plywood market. The marine tourism sector has grown globally. With anticipated global growth rates of more than 3.5%, coastal and marine tourism is projected to be the largest value-adding segment of the ocean economy by 2030, at 26%.
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Market segments for Marine Plywood include:
1) By Application: Marine Applications, Non-Marine Applications
2) By Marine Applications: Deck, Dock, Boat, Other Marine Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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