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The global plywood market reached a value of US$ 46.5 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use sectors. These insights are included in the report as a major market contributor.
Plywood is a type of manufacturing board, made from thin layers of wood veneers, which are glued together at right angles. A thin outer layer of additional materials like plastic, resin-impregnated paper, fabric or Formica can be added to the face and back veneers to improve the durability. These components also prevent the plywood from moisture, abrasion and corrosion, as well as facilitate better binding of paints and dyes. Nowadays, different types of plywood are available in the market, which are designed with low toxicity, and enhanced durability, aesthetics and environmental sustainability.
Plywood has high structural strength, flexibility, and resistance against chemicals and fire; and provides insulation against sound and excessive heating. As a result of these properties, it is used in various industries ranging from construction to aircraft to marine. In the construction industry, it is used in the manufacturing of doors, stairs, external cladding, flooring, framing, interior rails and balustrades, internal paneling and timber joinery products. On the other hand, plywood in the marine industry withstands occasional exposure to seawater without decaying or deteriorating. It is utilized in the manufacturing of stringers, floor, transom, boat cabinetry, walls, seating, and other interior fixtures. Besides this, technological advancements by the leading companies have not only reduced manufacturing costs and increased profitability but also enhanced the quality of plywood products. Moreover, the go-green strategy adopted by plywood manufacturers acts as another significant factor which is bolstering the growth of the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global plywood market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region and application.
Breakup by Application:
The residential sector currently represents the largest application segment, accounting for the majority of the total global market.
At present, the new construction segment exhibits a clear dominance in the market due to a rise in infrastructural and housing projects across the globe.
On the geographical front, Asia Pacific enjoys the leading position in the market.
The competitive landscape of the market is characterized by the presence of numerous small and large manufacturers. Some of the leading players are:
The Indian plywood market was valued at INR 222.5 Billion in 2020.
The improving consumer living standards supported by their increasing income levels represent one of the key factors driving the Indian plywood market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations in India resulting in temporary halt of numerous construction activities, thereby negatively impacting the demand for plywood.
Based on the sector, the Indian plywood market can be bifurcated into organized and unorganized. Currently, the unorganized sector currently represents the largest segment.
Based on the new construction and replacement application, the Indian plywood market has been divided into new construction and replacement application, where new construction currently exhibits a clear dominance in the market.
Based on the application, the Indian plywood market can be categorized into commercial and residential. Currently, the residential sector dominates the largest market share.
On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where North India dominates the Indian plywood market.
Some of the major players in the Indian plywood market include Greenply, Century Plyboards Limited, Merino, Kitply, and Uniply.
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