Plywood Market Report by Residential and Commercial Application (Residential, Commercial), New Construction and Replacement Sector (New Construction, Replacement), and Region 2024-2032

Plywood Market Report by Residential and Commercial Application (Residential, Commercial), New Construction and Replacement Sector (New Construction, Replacement), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A796
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Market Overview:

The global plywood market size reached US$ 48.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 73.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2024-2032. The growing adoption of flexible products, increasing urbanization, and rising number of residential and commercial projects represent some of the key factors driving the market.

Report Attribute
 Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 48.0 Billion
Market Forecast in 2032
US$ 73.3 Billion
Market Growth Rate 2024-2032
4.7%


Rising Number of Residential and Commercial Projects Impelling Market Growth

The rising number of residential and commercial projects currently represents one of the primary drivers resulting in the increasing sales of plywood. There is a rise in the demand for plywood for manufacturing furniture and construction materials across the globe. Besides this, the increasing utilization of plywood in residential and commercial spaces, as it offers enhanced stability, high strength, and improved impact resistance. Plywood is also used to manufacture walls and floor coverings in residential areas. In addition, the growing adoption of plywood in residential and commercial areas due to increasing living standards, along with inflating income levels of individuals, is positively influencing the market.

Global Plywood Market

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with a large number of small, medium, and large players operating in the industry, which increases the competition in the market. The volume of new entrants is moderate in the plywood industry due to the high economy of scale. In addition to this, the plywood industry has low product differentiation and switching costs.

What is Plywood?

Plywood refers to an engineered wood product that is manufactured from thin layers of wood veneer of softwood, hardwood plastic, resin-impregnated paper, fabric, formica, which are glued together in adjacent layers to form a thicker and flat sheet. It is widely available as structural, external, internal, and marine plywood in different sizes, shapes, designs, colors, patterns, and textures. It is cost-effective, convenient, easy to use and lightweight; has an increased life span; and facilitates better binding of paints and dyes. It offers improved durability, flexibility, and high stability and strength as compared to other wood-based sheet products, such as medium-density fiberboard (MDF). It is a versatile material that does not warp or crack with changes in atmospheric moisture. It is resistant to exposure to chemicals and fire, insulation against sound and excessive heating, moisture, abrasion, and corrosion. It is also pliable and highly suitable for curved surfaces and does not split easily due to its cross-layered structure. It assists in reducing carbon footprint and greenhouse gas (GHG) emissions, as it is an eco-friendly product. It also aids in providing a smooth surface, preventing water damage, and can easily hold screws. Besides this, it is beneficial in producing a variety of products conveniently and enhances the appearance of an item. As a result, plywood is widely employed in the marine, construction, manufacturing, and furniture industries across the globe.

Plywood Market Trends:

At present, the increasing adoption of plywood in residential areas as wall and floor coverings and roof deck coatings around the world represents one of the key factors supporting the growth of the market. Besides this, the growing demand for plywood due to the increasing number of commercial spaces across the globe is positively influencing the market. Additionally, the rising utilization of plywood in the marine industry to withstand occasional exposure to seawater without decaying or deteriorating the quality of the material is impelling the growth of the market. Apart from this, the increasing demand for designer and high-quality furniture that does not break easily and provides aesthetic appeal among the masses, along with the inflating income level of individuals around the world, is propelling the growth of the market. In addition, the rising employment of plywood in manufacturing concrete shuttering, doors, stairs, stringers, seatings, framing, interior fixtures, external cladding, interior rails and balustrades, internal paneling, and timber joinery products is offering lucrative growth opportunities to industry investors. Moreover, the growing awareness about using environment friendly products that lower the amount of carbon emissions across the globe is offering a favorable market outlook. Besides this, there is a rise in the demand for eco-friendly, cost-efficient, durable, smooth, and flexible materials among individuals around the world. This, coupled with various technological advancements in plywood to increase the flexibility and resistant properties of plywood, is contributing to the growth of the market. Furthermore, the increasing application of plywood-based products, such as desks, almirahs, and cabinets, in offices and commercial areas worldwide is bolstering the growth of the market.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global plywood market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on residential and commercial application, and new construction and replacement sector.

Residential and Commercial Application Insights:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • Residential
  • Commercial
     

The report has provided a detailed breakup and analysis of the plywood market based on the residential and commercial application. This includes residential and commercial. According to the report, residential represented the largest segment on account of the rising utilization in flooring, cladding, doors, framing, paneling, shear walls, stairs, and portal frames. In line with this, the introduction of new designs and a wide product range of furniture across the globe, along with the increasing demand for flexible and lightweight plywood as an alternative to solid wood is contributing to the growth of the market.

New Construction and Replacement Sector Insights:

  • New Construction
  • Replacement
     

A detailed breakup and analysis of the plywood market based on the new construction and replacement sector has also been provided in the report. This includes new construction and replacement. According to the report, new construction accounted for the largest market share, as it is produced from shavings and wood chips that are cheaper as compared to manufacturing hardwood. Moreover, there is a rise in the adoption of plywood in construction, woodcraft, and furniture making around the world. In addition to this, various benefits offered by plywood, such as versatility, flexibility, thickness, and availability in different sizes, are propelling the growth of the market.

Regional Insights:

 

 
 

 

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  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America
     

The report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. According to the report, Asia Pacific was the largest market for plywood. Some of the factors driving the Asia Pacific plywood market included the improving standards of living, rapid expansion in the construction industry, presence of key manufacturers, etc. Besides this, various manufacturers are producing plywood, as many countries in the Asia Pacific region have rich forest resources and wood plantations. In addition to this, the increasing demand for better housing and furniture, along with the inflating income level of individuals, is strengthening the growth of the market in the region.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global plywood market. Some of the companies covered in the report include:

  • Georgia Pacific LLC
  • PotlatchDeltic Corporation
  • Weyerhaeuser Company Ltd.
  • Boise Cascade Company
  • UPM-Kymmene Oyj
  • SVEZA Forest Ltd.
  • Metsä Wood (Metsäliitto Cooperative)
  • Latvijas Finieris AS
  • Austral Plywoods Pty Ltd.
  • Eksons Corporation Berhad (BHD)
     

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units Million Cubic Metres, US$ Billion
Segment Coverage Residential and Commercial Application, New Construction and Replacement Sector, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Georgia-Pacific LLC, PotlatchDeltic Corporation, Weyerhaeuser Company Ltd., Boise Cascade Company, UPM-Kymmene Oyj, SVEZA Forest Ltd., Metsä Wood (Metsäliitto Cooperative), Latvijas Finieris AS, Austral Plywoods Pty Ltd. and Eksons Corporation Berhad (BHD)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the plywood market from 2018-2032.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global plywood market.
  • The study maps the leading, as well as the fastest-growing, regional markets.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the plywood industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global plywood market was valued at US$ 48.0 Billion in 2023.

We expect the global plywood market to exhibit a CAGR of 4.7% during 2024-2032.

The rising adoption of plywood across the construction sector, owing to its high structural strength, improved flexibility, better resistance against chemicals and fire, excellent insulation against sound, excessive heating properties, etc., is primarily driving the global plywood market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of various end-use industries for plywood.

Based on the residential and commercial application, the global plywood market has been segmented into residential and commercial, where the residential sector currently accounts for the largest market share.

Based on the new construction and replacement sector, the global plywood market can be divided into new construction and replacement. Currently, the new construction sector exhibits a clear dominance in the market.

On a regional level, the market has been classified into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

Some of the major players in the global plywood market include Georgia-Pacific LLC, PotlatchDeltic Corporation, Weyerhaeuser Company Ltd., Boise Cascade Company, UPM-Kymmene Oyj, SVEZA Forest Ltd., Metsä Wood (Metsäliitto Cooperative), Latvijas Finieris AS, Austral Plywoods Pty Ltd., Eksons Corporation Berhad (BHD), etc.

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Plywood Market Report by Residential and Commercial Application (Residential, Commercial), New Construction and Replacement Sector (New Construction, Replacement), and Region 2024-2032
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