Plywood has gained popularity over the years due to its good strength, flexibility, workability, and reusability. Additionally, it offers superior insulation properties to the final product and is highly weather and water-resistant. Plywood is used for construction and flooring applications due to enhanced mechanical strength and considerably decreasing the overall weight of the products.
Increasing demand for easy to install and ready-made furniture are fueling the growth of the plywood market.
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Global Plywood Market, 2020–2026
In 2019, Asia Pacific contributed significantly to the plywood market in terms of share: MRFR
Based on region, the plywood market is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. In 2019, Asia-Pacific dominated the plywood market due to the increasing investment in infrastructure development in the region.
The global plywood market has been segmented based on grade, wood type, application, and region. Based on grade, the global market is divided into MR grade, BWR grade, fire resistant grade, BWP grade, and structural grade. The MR grade segment is anticipated to hold a significant market share. Based on wood type, the global plywood market is segmented into hardwood and softwood. The softwood segment accounted for a significantly larger share in the global market owing to its superior properties. Based on application, the global plywood market is segmented into furniture, construction & flooring, automotive interior, packaging, marine, and others. The furniture segment is expected to hold the largest market share due to the growing focus of homeowners on home décor, aesthetic furnishing, and interior designing.
Global Plywood Market size is projected to register a CAGR of 5.1% between 2020 and 2026 and reach an approximate value of USD 95 Billion in 2026.
Scope of the Report
This report provides an in-depth analysis of the global plywood market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The report also presents a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global plywood market by grade, wood type, application, and region.
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The key participants in the global plywood market are Weyerhaeuser Company (US), Boise Cascade Company (US), Century Plyboards Ltd. (India), Greenply Industries Limited (India), Georgia-Pacific, LLC. (US), Uniply Industries Ltd (India), JAYA TIASA HOLDINGS BERHAD. (Malaysia), UPM-Kymmene Oyj (Finland), SUBUR TIASA HOLDINGS BERHAD (Malaysia), and Sveza-Les LLC (Russia).
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