Press release
Prominent Marine Plywood Market Trend for 2025: Marine Plywood's Growing Role In Enhancing Roofing And Door Applications
The upward trend in the marine plywood market can be attributed largely to the increasing demand for fast and luxurious leisure boats. There's been a noticeable global growth in the marine tourism sector. Predicted to be the most profitable segment of the ocean economy by 2030, it is expected to see a growth rate exceeding 3.5% and contribute 26% to the total value. Moreover, there's a rising need for marine plywood in various applications such as stringers, floors, transoms, boat cabinetry, walls, and seats. The combined effect of these elements is likely to propel substantial growth in the marine plywood market.
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What is the projected compound annual growth rate (CAGR) of the marine plywood market from 2025 to 2034, and what factors influence it?
The dimension of the marine plywood industry has been on a sharp upward trajectory in the preceding years. It is expected to expand from a value of $12.92 billion in 2024 to $14.21 billion by 2025, recording a compound annual growth rate (CAGR) of 10.0%. The impressive growth witnessed in the past can be credited to various factors, such as the expansion of the shipbuilding industry, development of marine infrastructure, construction of waterfront properties, stringent marine safety rules, rise in recreational boating activities, and use in architectural applications.
The market size of marine plywood is predicted to experience a swift expansion in the coming years, reaching $22.02 billion in 2029, with a compound annual growth rate (CAGR) of 11.6%. This accelerated growth during the forecast period could be attributed to the surge in demand for renewable energy, tourism, luxury yachts, in addition to climate resilience and global shipping and trade. Key emerging trends for the forecast period include the use of environmentally friendly materials, advancements in plywood technologies, coastal protection initiatives, digital transformations, and innovative bonding agents.
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How are the latest trends influencing the growth of the marine plywood market?
The emergence of marine plywood utilization in rooftops and doors is a predominant trend observed in the marine plywood market. Given its commendable performance under humid and wet conditions, marine plywood is often credited for enhancing the durability and structural strength of buildings, resulting in its progression in usage for rooftop and door construction in residential sectors. Marine plywood is recognized for its increased structural strength, lightness, superior durability, and high resistance to warping, bending, and delamination - factors that make it an ideal material for humid and wet environments. It does not require chemical treatment and consists of several faces and core veneers, which contributes to reducing the gaps between the sheets. Consequently, it's primarily used in building boats and ships. Additionally, it's usefulness extends to the making of outdoor furniture in coastal regions alongside multiple residential and commercial applications.
What are the major segments of the marine plywood market and their role in driving growth?
The marine plywood market covered in this report is segmented -
1) By Application: Marine Applications, Non-Marine Applications
2) By Marine Applications: Deck, Dock, Boat, Other Marine Applications
Subsegments:
1) By Marine Applications: Boat Building, Docks And Piers, Shipbuilding And Repair, Bulkheads And Decking
2) By Non-Marine Applications: Furniture Manufacturing, Flooring, Exterior Construction, Packaging
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Which regions are key players in the growth of the marine plywood market?
Europe was the largest region in the marine plywood market in 2024. The regions covered in the marine plywood market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the key firms paving the way for growth in the marine plywood market?
Major companies operating in the marine plywood market include UPM Plywood, Potlatch Corporation, Roseburg Forest Products Company, Greenply Industries Ltd., Mampilly Plywood Industries, SVEZA Group, Joubert Plywood Pvt Ltd., Asia Plywood Company Sdn Bhd, Samling Group of Co, Austral Plywoods Pty Ltd., Bahar Orman Urunleri, Van Styn, The Indian Plywood Mfg Co Pvt Ltd., Consmos plywood factory, Bellotti Spa, Anurag Decorative Pvt Ltd., Swanson Group Inc., Wolstenholme International Inc., Georgia-Pacific LLC, Samko Timber Ltd., West Fraser Timber Co. Ltd., Boise Cascade Company, Metsa Group, Weyerhaeuser Company, Century Plyboards Ltd., Jaya Tiasa Holdings Berhad, Mohawk Industries Inc., Plum Creek Timber Company Inc., Murphy Plywood, Coastal Forest Resources Company
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What Is Covered In The Marine Plywood Global Market Report?
•Market Size Forecast: Examine the marine plywood market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the marine plywood market for a structured understanding.
•Key Players Overview: Analyze major players in the marine plywood market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the marine plywood market.
•Segment Contributions: Evaluate how different segments drive overall growth in the marine plywood market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the marine plywood market.
•Industry Challenges: Identify potential risks and obstacles affecting the marine plywood market.
•Competitive Landscape: Review strategic developments in the marine plywood market, including expansions, agreements, and new product launches.
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