Global Plywood Market Size to Reach USD 83.51 Billion by 2030 at 6.06%
Global Plywood Market Size to Reach USD 83.51 Billion by 2030 at 6.06%
Blog Article
Global Plywood Market Size to Reach USD 83.51 Billion by 2030 at 6.06% CAGR
The Global Plywood Market is on a robust growth trajectory, with a projected market size of USD 83.51 billion by 2030, growing from USD 55.33 billion in 2023. According to Renub Research, this expansion is driven by increased adoption across industries like construction, furniture, and sustainable building solutions.
Request a free sample copy of the report: https://www.renub.com/global-plywood-market-p.php
What is Plywood?
Plywood, a highly versatile engineered wood, is crafted from thin veneer layers bonded at 90-degree angles using resin adhesives. Its durability, moisture resistance, and cost-efficiency make it indispensable for applications in construction, furniture, and packaging. Its eco-friendly properties have also contributed to its rising demand, aligning with global sustainability trends.
Key Trends Shaping the Global Plywood Market
- Technological Advancements
Plywood innovations, such as zero-emission and fire-resistant grades, are enhancing its flexibility, durability, and environmental appeal. For instance:
- Sonear Zero Emission Plywood utilizes specialized resins to significantly reduce formaldehyde emissions.
- Greenply Industries recently achieved EPA and CARB certifications for its zero-emission plywood, cementing its leadership in sustainable plywood solutions.
- Booming Construction Industry
With global urbanization accelerating, plywood is indispensable for roofing, walls, and flooring in residential, commercial, and industrial projects. Rising investments in green building initiatives further boost demand.
- Growing Furniture Market
Plywood's affordability, flexibility, and strength have made it a preferred material in modular and designer furniture. As disposable incomes rise globally, consumers are favoring trendy, eco-conscious furniture, driving market growth.
- Sustainability and Environmental Awareness
The shift towards renewable and sustainable materials in construction and furniture has placed plywood in the spotlight. Governments worldwide are mandating green building practices, bolstering demand for responsibly sourced plywood.
Global Plywood Market Segmentation
By Type:
- Hardwood Plywood
- Softwood Plywood
By Grade:
- Moisture Resistant (MR) Grade
- Boiling Water Resistant (BWR) Grade
- Fire Resistant Grade
- Structural Grade
- Others
By Application:
- Construction
- Furniture
- Packaging
- Flooring
- Transport
- Decoration
- Others
By Region:
The market is segmented across 27 countries in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Notably, China leads the market with its booming construction sector and stringent green building regulations.
Global Plywood Market Highlights
Industry Developments
- Rushil Decor launched eco-friendly plywood solutions in February 2024, aiming to revolutionize sustainable wood products.
- Duroply Industries unveiled the "Duro Advantage" plywood series featuring advanced protective layers at MATECIA 2023.
- Palmer-Donavin acquired Diamond Hill Plywood to strengthen its building materials distribution network.
Prominent Players
Key industry participants include Boise Cascade, Weyerhaeuser Company, UPM-Kymmene, Metsä Board, Century Plyboards, and Greenply Industries.
Growth Drivers in the Plywood Market
- Rising Infrastructure Investments:
Global infrastructure projects demand versatile materials like plywood for cost-effective construction. - Increased Adoption of Modular Furniture:
Plywood's adaptability to intricate designs drives its application in modern, ready-to-assemble furniture. - Environmental Advocacy:
Governments and organizations encourage the use of renewable materials, positioning plywood as a key sustainable alternative.
China: A Dominant Market
China’s plywood market is thriving due to its expanding construction sector and eco-conscious policies. Initiatives like the Action Plan on Peaking Carbon Dioxide Emissions aim to integrate sustainable practices, boosting plywood demand.
For instance, the General Code for Building Energy Conservation mandates that all new urban buildings meet green standards by 2025, ensuring a steady market for eco-friendly plywood.
Related Report :
Limestone Market
Vacuum Insulation Panel Market
Global Plywood Market
About the Company:
Renub Research is a Market Research and Consulting Company. We have more than 15 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food Beverages, Power Energy, Information Technology, Telecom Internet, Chemical, Logistics Automotive, Consumer Goods Retail, Building, and Construction, Agriculture. Our core team is comprised of experienced people holding graduate, postgraduate, and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science, and many more.
Media Contact:
Company Name: Renub Research
Contact Person: Rajat Gupta, Marketing Manager
Phone No: +91-120-421-9822 (IND) | +1-478-202-3244 (USA)
Email:[email protected]
Report this page