Plywood Market Poised to Hit $163.8 Billion by 2029 with Accelerating Growth Trends

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Plywood Market Size Growth Forecast: What to Expect by 2025?_x000D_
The plywood market has expanded steadily in recent years, moving from $125.43 billion in 2024 to $131.63 billion in 2025 at a CAGR of 4.9%. Its past growth was driven by rising populations, residential construction activity, low-interest rates, and growth in emerging markets._x000D_
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How Will the Plywood Market Size Evolve and Grow by 2029?_x000D_
Anticipated to witness substantial expansion in the forthcoming years, the plywood market is projected to reach a value of $163.8 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.6%. Factors contributing to this growth throughout the forecast period encompass government backing, an uptick in renovation undertakings, escalating urbanization, as well as an increased demand for wooden furnishings. There are expected trends throughout this period, including technological advancements, product innovations, employing eco-friendly chemicals for wood preservation, the creation of termite-proof and waterproof plywood, the advent of zero-emission plywood and fire-resistant plywood. Additionally, new plant extensions, as well as collaborations and acquisitions, are also prevalent trends._x000D_
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What Drivers Are Propelling the Growth of Plywood Market Forward?_x000D_
The surge in construction undertakings is forecasted to drive the plywood market's expansion. Construction encompasses the assembly of various components to form a structure at a particular location, following a detailed blueprint and plan. Plywood is integral to these construction processes, providing structure, versatility, and cost-effective alternatives. As an example, in August 2024, as per the Sunshine Coast Council in Australia, a local governmental body offering information on its community outreach, services and initiatives, the valuation of approved construction buildings jumped to a record-breaking $2.3 billion, an increase of $100 million from 2022-23. This unprecedented leap signifies a landmark moment in construction operation and mirrors the strong demand for construction projects within the region. Hence, the surge in construction undertakings fuels the expansion of the plywood market._x000D_
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Which Emerging Trends Are Transforming the Plywood Market in 2025?_x000D_
The production of fire-resistant plywood is an emerging trend in the plywood market. This type of plywood is created with the use of specific fire-retardant chemicals during production, providing top-grade fire resistance. It's also referred to as FR-grade plywood. These fire-resistant plywood types are primarily employed in public spaces aimed at minimizing fire risks such as those used in the construction of woodwork for large restaurant kitchens, public theatre interiors and halls, and the wood utilized in train compartments. This type of plywood can also be beneficial in reducing fire risks within residential locations, office settings, car interiors, or other similar environments. For instance, Greenply Industries Limited, an Indian company specializing in interior infrastructure, introduced a product named 'Green Platinum' in July 2022. This is a fire-resistant plywood, compliant with E-0 standards, and offers twice as much fire resistance and waterproofing than other plywoods in its category. PEN Tech technology is incorporated into the product which includes a protective mesh between the plywood layers and on the surface, increasing its fire-resistant capabilities by two-fold._x000D_
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What Are the Key Segments in the Plywood Market?_x000D_
The plywood market covered in this report is segmented - _x000D_
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1) By Type: Softwood, Hardwood_x000D_
2) By Application: Furniture, Building And Construction, Transportation, Packaging, Other Applications_x000D_
3) By End-User: Residential, Commercial_x000D_
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Subsegments:_x000D_
1) By Softwood: Pine Plywood, Spruce Plywood, Fir Plywood, Cedar Plywood, Larch Plywood _x000D_
2) By Hardwood: Oak Plywood, Birch Plywood, Maple Plywood, Beech Plywood, Teak Plywood, Cherry Plywood _x000D_
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Who Are the Key Players Shaping the Plywood Market's Competitive Landscape?_x000D_
Major companies operating 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, Kitply, Sarda Plywood, National Plywood, Kamdhenu Plywood, Oriental Veneer Products Ltd, Luli Group, Yingang Wood Based Panel Co Ltd, CNSIC, Shandong Xingang Group, Xinle Plywood Group, Jiangsu Shengyang Industrial Joint Stock Co Ltd, Specialized Panel Products Ltd, Ply-Tek, Caledonian Plywood Company, Holdex Plywood Ltd, Stonebridge UK Ltd, Sydenhams Plywood & Panel Products, Viking Plywood & Timber Ltd, Timb Ply Ltd, Stora Enso, Russia Forest Products, Wotan Forest a.s, UNILES Inc, Segezha Group, KPPD-Szczecinek SA, Ilim Timber LLC, West Fraser Allendale, Canfor Corporation, Hancock Timber Resource Group, RSH Forest Products, PotlatchDeltic Corporation, Sierra Pacific, Berneck, Araupel, Linea Parana Madeiras Ltda, Imaribo, Middle East Wood, Mazi Orman Urunleri Ltd, Dastas Demircioglu Agac AS, Daco Parquet Factory AS, Gabon Veneer, Merensky, Miro Forestry, Timber Products, United Forest Products, Afeefa Overseas Sarl Gabon, Okoume Face Veneer, Brick Plyboards, Boschetto Timbers _x000D_
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What Geographic Markets Are Powering Growth in the Plywood Market?_x000D_
Asia-Pacific was the largest region in the plywood market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plywood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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