Global Plywood Market Projected to Reach USD 86,000 Million by 2026

19-Mar-2020 | Facts and Factors

 The global Plywood market in 2019 was approximately USD 45,000 Million. The market is expected to grow at a CAGR of 9.5% and is anticipated to reach around USD 86,000 Million by 2026.

Plywood is a wooden material that is usually manufactured with thin layers of wood veneer. It can be made from softwoods, hardwoods, or a combination of both. Oak, ash, teak, maple, and mahogany are the common types of hardwood used in plywood construction. The form of glue used to unite the wood layers together is dependent on the exact application of the final plywood product. Phenol-formaldehyde resin is typically used to design softwood sheets of plywood and is installed on the exterior structure of the finished plywood. Adhesives that offer excellent strength and moisture resistance are widely preferred by plywood designers.

Browse the full “Plywood Market By Product Type (Hard Plywood and Soft Plywood), By Industry (Furniture Industry, Interior Decoration, Engineering & Construction, and Others), By Sales Channel (Direct Sales and Distributor): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/plywood-market-by-product-type-hard-plywood-and-826

The product type market segmentation of the plywood market includes hard plywood and soft plywood segments. The hard plywood segment was identified as a prominent segment and generated revenue worth USD 29,000 Million. The soft plywood segment is anticipated to register a substantial CAGR over 2019-2026. Since hard plywood is long-lasting and durable, it is used in furniture construction applications. It is highly stable and exhibits greater impact resistance. This, in turn, is anticipated to boost the demand for hard plywood in different applications during the forecast period. However, high-density hard plywood tend to split under operation, which demands extra care from the carpenter while manufacturing furniture and related products.

The industry segments of the plywood market comprise the furniture industry, interior decoration, engineering & construction, and others; among all engineering & construction segments accounted for a prominent revenue share in 2019. Further, the segment is projected to register a substantial CAGR of 9.5% during market projection. Consumption in the construction industry is increasing across developing economies along with rising urbanization and infrastructure development. Innovation in furniture designs and commercial floorings is anticipated as a key market trend.

The sales channel segments of the plywood market comprise direct sales and distributor; among these segments distributors segment accounts prominent market share and registered growth rate of 9.0%. The growing trend of digitization coupled with the increasing use of smartphones is anticipated to boost the growth of the online distribution of plywood products during the forecast period. The offline distribution channel with the great location of the retail store and no extra investment in the marketing budget offers advantages for brand building in the local market. Online distributors allow customers to compare prices and product offerings of different companies on the same platform.

Ker regional segments identified in the research study include Europe, Asia Pacific, Latin America, the Middle East, Africa, and North America. Asia Pacific region accounts for a prominent market share and is anticipated as an attractive market for new entrants in the industry. The growing construction industry, rapidly evolving home décor market, and increasing urbanization are the key factors anticipated to boost the market performance in the region.

Report Scope

Key companies identified in the market study include Greenply Industries Ltd., Eksons Corp. Bhd., Weyerhaeuser Company, Jaya Tiasa Holdings Bhd., Boise Cascade LLC, Atlantic Plywood Corporation, Georgia-Pacific Corporation, Uniply Industries Ltd., Roseburg Forest Products Co., Century Plyboard (India) Ltd., and Ainsworth Lumber Co. Ltd. Innovative product development and well-established distribution networks are used by these players to sustain the market position.

This report segments the Plywood market as follows:

Global Plywood Market: By Product Type Segmentation Analysis

• Hard Plywood
• Soft Plywood

Global Plywood Market: By Industry Segmentation Analysis

• Furniture Industry
• Interior Decoration
• Engineering & Construction
• Others

Global Plywood Market: By Sales Channel Segmentation Analysis

• Direct Sales
• Distributor

Global Plywood Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

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