Plywood Market to grow at a CAGR of 4.55% from 2022 to 2027; The increasing residential and commercial construction activities to boost market growth

News provided by

15 Aug, 2023, 11:15 ET

Share this article

NEW YORK, Aug. 15, 2023 /PRNewswire/ -- The plywood market is estimated to grow by USD 13,585.71 million and the size of the market is forecast to increase at a CAGR of 4.55% between 2022 and 2027. For Comprehensive details on the market size of the historical period(2017 to 2021) and forecast period (2023-2027) - View the Sample report

Company LandscapeThe plywood market is fragmented; the companies are competing with competitors and is trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key companies, their strategies, and the latest developments. Buy Now

Market Dynamics

Key Driver

The increasing number of residential and commercial construction activities is a key factor driving market growth. The increased interest in infrastructure and real estate development, as well as the building of new homes and offices, will boost sales of new plywood goods and furniture. Along with new buildings, a surge in renovation and modification projects is helping to meet the growing need for wood products in various countries. Hence, these factors are expected to drive market growth during the forecast period.

Major Trends

The rising wages in manufacturing hubs are a major trend in the market. Rapid urbanization and industrialization in emerging economies, particularly in nations like China, India, the Philippines, Vietnam, and Indonesia, are the key factors in growing wages. Furthermore, the rise in the GDP of nations like China and India, as well as the rise in wages, are fueling the expansion of the world economy. Additionally, several government efforts in emerging nations are increasing the demand for plywood products. Thus, such factors are expected to drive market growth during the forecast period.

Significant Challenges

The moisture and humidity concern is a major challenge restricting market growth. The area that is being evaluated for flooring with plywood needs to be prepared in accordance with the standards established by the manufacturers. The recommendations typically call for an ambient relative humidity of 35% to 55%, but this might change greatly depending on the manufacturer. Some manufacturers could advise a relative humidity of 40%–60%, while others might advise a relative humidity of 30%–50%. Hence, failing to meet such conditions is expected to hamper the growth of the market during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report

Company Profiles

The plywood market report includes information on the product launches, sustainability, and prospects of leading companies including Austral Plywoods Pty. Ltd., Boise Cascade Co., Caledonian Plywood Co. Ltd., Eksons Corp. Berhad, Ets Guy JOUBERT SAS, Georgia Pacific LLC, Greenply Industries Ltd., Hefei Sinoply Wood Co. Ltd., HOXAN Corp., METSA GROUP, PotlatchDeltic Corp., Richard Russell Panels Ltd., Roseburg Forest Products Co., Subur Tiasa Holdings Berhad, Sunchang Corp., The Western India Plywoods Ltd., Uniply Industries Ltd., UPM Kymmene Corp., West Fraser Timber Co. Ltd., and Weyerhaeuser Co.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

Market Segmentation

The market is segmented by type (hardwood and softwood), sector (new construction and replacement), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

Gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Related Reports

The hardwood market is estimated to grow at a CAGR of 4.74% between 2022 and 2027. The market size is forecast to increase by USD 9,554.57 million. Furthermore, this report extensively covers market segmentation by application (flooring, furniture, and others), type (ash, cherry, maple, oak, and birch), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The increasing residential and commercial construction activities are significantly driving market growth.

The Roundwood market is expected to increase by 15,682.23 million ft3 from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 2.68%. Furthermore, this report extensively covers roundwood market segmentation by type (pulpwood, sawlogs, and veneer logs) and geography (APAC, Europe, North America, South America, and MEA). One of the key factors driving the Roundwood market growth is the rising demand from housing and infrastructure construction companies.

Plywood Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.55%

Market growth 2023-2027

USD 13,585.71 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.92

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 67%

Key countries

US, Canada, China, Japan, and South Korea

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Austral Plywoods Pty. Ltd., Boise Cascade Co., Caledonian Plywood Co. Ltd., Eksons Corp. Berhad, Ets Guy JOUBERT SAS, Georgia Pacific LLC, Greenply Industries Ltd., Hefei Sinoply Wood Co. Ltd., HOXAN Corp., METSA GROUP, PotlatchDeltic Corp., Richard Russell Panels Ltd., Roseburg Forest Products Co., Subur Tiasa Holdings Berhad, Sunchang Corp., The Western India Plywoods Ltd., Uniply Industries Ltd., UPM Kymmene Corp., West Fraser Timber Co. Ltd., and Weyerhaeuser Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Sector

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio