Plywood Market – Size, Share,Outlook, and Opportunity Analysis, 2018 – 2026

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Plywood is manufactured from thin sheets or layers of wood veneer and bonded together with adhesives. Plywood is frequently used as a substitute for plain wood due to its excellent properties such as resistance to shrinking, twisting, and splitting.

Softwood plywood is produced by gluing several layers of dry softwood veneers together with an adhesive. Softwood plywood is used for wall siding, roof decking, concrete formboards, sheathing, floors, and containers. Hardwood plywood is used for interior applications such as furniture, architectural millwork, paneling, cabinets, flooring, store fixtures, and doors.

Softwood plywood is used for wall siding, roof decking, concrete formboards, sheathing, floors, and containers. Hardwood plywood is used for interior applications such as furniture, architectural millwork, paneling, cabinets, flooring, store fixtures, and doors.

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Market Dynamics

A major driver for growth of the global plywood market is growing construction industry. For instance, in 2015, global construction perspectives and oxford economics together stated that the global construction market is set to grow by US$ 8 trillion by 2030, reaching a total size of US$ 17.5 trillion and growing by an average annual rate of 3.9% by 2030

Softwood plywood is used for wall siding, roof decking, concrete formboards, sheathing, floors, and containers. Hardwood plywood is used for interior applications such as furniture, architectural millwork, paneling, cabinets, flooring, store fixtures, and doors.

However, higher cost of plywood as compared to Oriented Starboard (OSB) may hamper growth of the global plywood market, as OSB offers similar characteristics as plywood.

Market Outlook

According to the Coherent Market Insights’ analysis, Asia Pacific is expected to be the fastest growing plywood market during the forecast period, owing to growing housing and infrastructure sectors in the region. For instance, in India, Pradhan Mantri Awas Yojana (PMAY) or The ‘Housing for all by 2022’ launched in 2015, aims to provide affordable housing to all citizens by 2022, and as per government speculation this could entail construction of 20 million houses by 2022.

China is the world’s largest producer of plywood, owing to the economical manual labor, simple tehchology, and local machine suppliers.

Softwood plywood is used for wall siding, roof decking, concrete formboards, sheathing, floors, and containers. Hardwood plywood is used for interior applications such as furniture, architectural millwork, paneling, cabinets, flooring, store fixtures, and doors.

Key players in Global Plywood Market

Key players operating in the global plywood market include Atlantic Plywood Corporation, Greenply Industries Ltd., Weyerhaeuser Company, Ainsworth Lumber Co. Ltd., Roseburg Forest Products Co., and Century Ply board (India) Ltd.

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