The latest report by IMARC Group titled, “Indian Plywood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the Indian plywood market reached a value of US$ 4.4 Billion in 2018, growing at a CAGR of 4.8% during 2011-2018. Plywood is manufactured from thin sheets of wood veneer that are glued together with binding agents. Several varieties of softwood, hardwood, or a combination of these is used in the manufacturing of plywood. Some of the varieties of softwood and hardwood used for the production of plywood are maple, mahogany, oak, pine, cedar, spruce, etc. In India, it is used for various applications as it offers resistance against shrinkage, splitting, cracking, and twisting.
Highlights of the Indian plywood market:
- An increase in the demand for plywood resulted by growing western influence is the biggest demand driver.
- The residential sector is the biggest consumer of plywood in India.
- The market is expected to reach a value of US$ 5.7 Billion by 2024.
The demand for plywood in the region is driven primarily by an increase in expenditure on furniture. Rising disposable incomes, western influence, urbanisation, etc. have all emerged as important factors for the increase in its demand. Moreover, large investments in the real estate industry have triggered a growth in the demand for plywood where it is extensively being used for the construction of modular kitchens, and designing walls, floor and ceiling. This has further been promoted by expanding distribution networks and exclusive outlets of furniture manufacturers. The market is further expected to reach a value of US$ 5.7 Billion by 2024.
The market is segmented on the basis of sector, including unorganised and organised. The market is also segmented on the basis of key applications. The major application areas for Indian plywood are commercial and residential. The residential sector is the biggest consumer of Indian plywood, accounting for the majority of the share. 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, Merino, Kitply, and Uniply.
The report provides a deep insight into the Indian plywood industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up an Indian plywood manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian plywood industry in any manner.
The report has examined the Indian plywood market on the basis of:
- Century Plyboards Limited
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