Plywood is a wood panel prepared from thin sheets of wood veneer. It is inexpensive, flexible, re-usable and workable. Plywood is used as a substitute to the wood boards due to its resistance to crackling, shrinkage and twisting. Moreover, plywood uses adhesive to bind the veneers which make it water resistant. These types of veneers are suitable for exterior use such as sheds and marine construction.
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The global plywood market is segmented into application such as construction, packaging, furniture, transport and others. Among these segments, construction segment is expected to occupy top position in overall plywood market during the forecast period.
Rapid urbanization and positive growth in real estate are expected to drive the growth of the plywood for construction segment. Further, increasing willingness of home owners to spend on furnishing and interior architecture coupled with rising disposable income is expected to expand the demand for plywood in construction sector.
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Global plywood market is expected to flourish at a significant CAGR during the forecast period. Moreover, the global plywood market is expected to reach USD 110 Million by the end of 2017.
The demand for plywood is increasing due to the increase in construction activities across the globe. Further, rising inclination of the people towards modular homes integrated with attractive plywood designs is expected to escalate the growth of the global plywood market over the forecast period.
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North America is slated to account for a leading share in the plywood market. The growth in the region can be attributed to increasing residential construction activities in the region.
Besides, high disposable income of the population is also expected to impel the growth of plywood market in the North America. Europe is projected to showcase significant growth in plywood market over the forecast period.
Rising investment in the construction is expected to be the key factor behind the growth of plywood market in the Europe region. Further, construction growth is projected to accelerate in the next few years.
This factor is expected to fuel the growth of Europe plywood market during the forecast period. Asia Pacific is likely to witness lucrative growth during the forecast.
Rapid Growth in Construction Activities
High growth in construction activities in developing nations coupled with rising preference for designed plywood for interior is expected to foster the growth of the plywood market. Moreover, rapid urbanization, increasing global population and strong economic growth in developing nations are boosting the construction market which further, is expected to positively impact the demand for plywood during the forecast period.
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Wide Scale Application of Plywood
Increasing utilization of plywood in marine deck building, commercial vehicle flooring and other applications is anticipated to drive the growth of the plywood market. Further, increasing number of houses across the globe is expected to impel the growth of the plywood market.
Although, increases in the price of the plywood and availability of alternatives such as oriented strand boards are some of the factors is likely to hamper the growth of plywood market during the forecast period.
The report titled “Plywood Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the global plywood market in terms of market segmentation by type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global plywood market which includes company profiling of Century Plyboards (India) Ltd., Eksons Corporation Bhd, Roseburg Forest Products Co., Sinoply Industry Ltd., SDS Lumber Company, Greenply Industries Ltd., Jaya Tiasa Holdings Berhad, Weyerhaeuser Company, Boise Cascade Company and Uniply Industries Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the Global plywood market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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