Press release
Surge in Global Plywood Market: Ascending to $169.8 Billion by 2029 with a CAGR of 5.8%
Plywood Market Size
What Is The Projected Market Size Of The Global Plywood Market And Its Growth Rate?
The global plywood market has been witnessing significant growth over the last few years:
- Elevated from $127.19 billion in 2024 to $135.61 billion in 2025, growing at a CAGR of 6.6%
- Expected to reach $169.8 billion by 2029, growing at a CAGR of 5.8%
The growth is primarily driven by emerging markets, world population growth, residential construction activity, and low-interest rates. Additionally, government support, rising renovation activities, rising urbanization, and escalating demand for wooden furniture are set to propel the growth in the upcoming years.
What Is Driving The Growth In The Plywood Market?
The growth in the plywood market is primarily driven by increasing construction activities. The pivotal role of plywood in construction, offering cost-effective, versatile, and structural support solutions, further enhances its market growth. For instance, in August 2024, the value of construction building approvals in Australia reached a record high of $2.3 billion, a clear indication of the robust demand for building projects in the area and a significant milestone in construction activity. Therefore, the escalating construction activities worldwide are contributing to the growth of the plywood market.
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Who Are the Key Players Driving Plywood Market Growth?
Key players in the plywood market include:
- UPM-Kymmene Oyj
- Boise Cascade Company
- Metsä Group
- West Fraser Timber Co. Ltd
- Weyerhaeuser Company
- Georgia-Pacific, LLC
- Greenply Industries Limited
- Sveza-Les LLC
- Austal Plywoods Private Limited
- Century Plyboards India Ltd
What Are The Key Trends In The Plywood Market?
Noteworthy trends observed in the plywood market include:
- Technological advancements
- Product innovations
- Use of biodegradable chemicals for wood preservation
- Development of termite-free and waterproof plywood
- Development of zero-emission plywood
- Development of fire-resistant plywood
- New plant expansions
- Collaborations and acquisitions
What Are The Segments Of The Global Plywood Market?
The plywood market is segmented -
- By Type: Softwood, Hardwood
- By Application: Furniture, Building And Construction, Transportation, Packaging, Other Applications
- By End-User: Residential, Commercial
Which Region Leads The Plywood Market?
Asia-Pacific dominated the global plywood market in 2024 and is expected to maintain its leadership during the forecast period. The rapid growth in this region can be attributed to the upsurge in construction activities, urbanization trends, and government support.
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What Is Covered In The Plywood Market Global Market Report?
- Market Size Analysis: Analyze the Plywood Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Plywood Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Plywood Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Plywood Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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