The latest report by IMARC Group titled, “Plywood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global plywood market reached a value of US$ 35 Billion in 2016, exhibiting a CAGR of 8% during 2009-2016. Plywood is an engineered wood product made from layers of thin sheets of wood veneers. These veneers are bonded together under pressure at high temperature to form a thicker, stronger and more flexible flat sheet. There are a number of varieties of plywood available in the market for various applications, such as structural plywood, external plywood, internal plywood and marine plywood.
Highlights of the global plywood market:
- The market is driven primarily by the availability of different varieties of plywood.
- Asia Pacific represents the largest market, accounting for the majority of the share.
- The market is expected to reach a value of more than US$ 51 Billion by 2022.
Plywood offers about fifty times more strength than other engineered wood products. The grains of each veneer are laid at 90? angles to each other which makes the entire sheet resistant to splitting, especially when nailed at the edges. Moreover, plywood provides better resistance against exposure to fire and chemicals, and insulation against sound and excessive heating. Owing to these properties, it is being widely used for exterior wall sheathing, interior walls, roofing and flooring, furniture, doors, stairs, external cladding, framing, interior rails and balustrades, internal panelling, timber joinery products, etc. Further, the market is expected to reach a value of more than US$ 51 Billion by 2022.
The market is segmented on the basis of key applications which include commercial and residential. The residential applications represents the largest sector for plywood, accounting for more than half of the total global share. The market is also segmented on the basis of key regions such as Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. Asia Pacific represents the biggest market for plywood. An analysis of the competitive landscape provides the details of the key players operative in the market. Some of the major players are Greenply, Century Plyboards Limited, Raute, Kitply Industries Limited, Sharon Veneers Private Limited, etc.
The report has examined the global plywood market on the basis of:
Market by Application:
- Asia Pacific
- North America
- Latin America
- Middle East and Africa
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