The Plywood Market Report Analysis By 2023-2032: Market Players, Application, Growth Rate

Plywood is a wood panel made from thin layers of wood veneer or "plies" that are glued together. These plies are typically arranged with their grain direction perpendicular to each other, which enhances the strength and stability of the panel. The layers are bonded using adhesives under heat and pressure, resulting in a strong and versatile material.

Plywood Market size was valued at $55.7 billion in 2022, and is projected to reach $100.2 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032

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A significant increase in the number of buildings can be seen across the globe. This is largely attributed to the increasing global population and rapid urbanization. For instance, according to U.S. Department of Housing and Urban Development, in 2023, 1,469,800 housing units were authorized by building permits in the U.S. Such buildings utilize wood-based panels in flooring, furniture, doors and window panels, and others. Therefore, a rise in building construction is anticipated to increase the demand for plywood. The plywood industry is witnessing surge in growth owing to factors such as increasing number of dwellings, increasing disposable income, and development in the e-commerce industry. Furthermore, owing to the COVID-19 pandemic, people globally were forced to work from home, for which they demanded tables and chairs, leading to a boost in the market.

Structural plywood is used for wall and roof reinforcement. Furthermore, plywood's capacity to withstand warping, cracking, splitting, and shrinkage makes it a dependable building material. Its constant thickness also enables precise and accurate installation. These advantages have led architects and constructors to prefer plywood over more traditional options including solid wood or particle board. Many companies are focusing on improving its plywood production. For instance, in December 2023, Georgia-Pacific invested nearly $2 billion on its company and existing operations. These capital improvement projects involve the development and completion of new facilities, along with the enhancement of current operations. Each investment allows Georgia-Pacific to improve service customers, boost productivity and efficiency, and provide more economic prospects in each facility's local economy.

Report Key Highlighters

The plywood market report studies more than 16 countries. The analysis includes a country-by-country breakdown analysis in terms of value ($million) available from 2022 to 2032.

The research combined high-quality data, professional opinion and research, with significant independent opinion. The research methodology aims to provide a balanced view of the global market, and help stakeholders make educated decisions to achieve ambitious growth objectives.

The research reviewed more than 3,700 product catalogs, annual reports, industry descriptions, and other comparable resources from leading industry players to gain a better understanding of the market.

The plywood market share is marginally fragmented, with players such as Weyerhaeuser Company; Georgia-Pacific; LLC, Boise Cascade Company; Greenply Industries; Uniply Industries Ltd.; JAYA TIASA HOLDINGS BERHAD; UPM Plywood; SUBUR TIASA HOLDINGS BERHAD; SVEZAs; and Duro Ply Industries Limited. Major strategies such as contracts, partnerships, expansion, and other strategies of players operating in the market are tracked and monitored.

Report: https://www.alliedmarketresearch.com/plywood-market-A52014

Key Benefits For Stakeholders

This study comprises analytical depiction of the global plywood market size along with the current trends and future estimations to depict the imminent investment pockets.

The overall global plywood market analysis is determined to understand the profitable trends to gain a stronger foothold.

The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.

The current global plywood market forecast is quantitatively analyzed from 2022 to 2032 to benchmark the financial competency.

Competitive Analysis

Competitive analysis and profiles of the major global market players that have been provided in the report include Weyerhaeuser Company; Georgia-Pacific; LLC, Boise Cascade Company; Greenply Industries; Uniply Industries Ltd.; JAYA TIASA HOLDINGS BERHAD; UPM Plywood; SUBUR TIASA HOLDINGS BERHAD; SVEZAs; and Duro Ply Industries Limited

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