The global plywood market, in terms of volume, is expected to be 141.1 million cubic meter in 2023. The market is projected to grow steadily at a CAGR of 5-6 percent between 2023 and 2026

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    Plywood market report transcript

    Plywood Global Market Outlook

    • The global plywood market, in terms of volume, is expected to be 141.1 million cubic meter in 2023. The market is projected to grow steadily at a CAGR of 5-6 percent between 2023 and 2026

    • APAC is the highest demand-generating geography, followed by North America, and Europe

    Market Insights

    • The Asia-Pacific region is expected to constitute to around 75 percent of global plywood demand in 2023

    • The increase in demand is majorly driven by the growth of construction and transportation sectors. In construction, plywood is used for wide variety of applications such as formworks, shear walls, support structures, architectural designs, framings, etc.

    • The demand for plywood in 2023 is expected to increase, due to strong demand from construction, packaging, and transportation sectors

    • By wood type, the softwood plywood market is estimated to account for around 62 percent market share in 2023. Softwood plywood has moisture resistance, durability and bending strength making the plywood to use in construction, transportation, and packaging sectors. Hardwood plywood is estimated to hold a market share of 33 percent and is mostly used for interior applications such as furniture, stairs, flooring, etc., and internal aesthetic applications for trucks, buses, etc.

    • By end use, construction end-use segment is estimated to hold majority of plywood market share in 2023, and the trend is likely to continue throughout the forecast period. The construction end-use segment is expected to account for a 42 percent market share followed by Interior end-use segment for 29 percent. The rise in construction sector across the globe is likely to boost the demand for plywood in the coming years

    Regional Market Overview for Plywood

    • The APAC will continue to retain a major share of the plywood market for 2023, and throughout the forecast period. North America is expected to be next major shareholder of plywood market. Individually, by country, China will be the market leader, primarily due to increased construction activity and plywood production in the forecast period

    • The market is matured in the North America region. The market is expected to reach 19.94 million cubic meter in 2023 as demand from residential and government infrastructure project is expected to drive the market

    • China is the largest producer and consumer of the plywood. The Asia-Pacific region plywood demand is driven by affordable housing and increasing construction activities in the region

    • Europe’s supply and demand for wood and wood products including plywood is expected to remain impacted due to geopolitical tensions in Europe. Europe is the second largest exporter, in terms of volume, following APAC for plywood

    Plywood Global Market Drivers and Constraints

    • Growth in construction sector, rapid urbanization, increase in spend by middle class for new housing and renovation are likely to drive the plywood market. Availability and volatility in raw materials prices would negatively impact the market growth.


    • Key driving factors for global plywood market include projected high growth of the construction sector, for both non-residential and residential, surge in interiors market especially furniture segment and rise in demand from transportation and packaging sector

    • Rapid urbanization, increase in spend by middle class for new housing and renovation purposes are also likely to enhance the demand for plywood

    • Plywood is made from a renewable material and has low emissions while manufacturing. It can be treated as a sustainable product during construction activities. The surge in ecological values in construction sector encourages the use of plywood hence driving the market growth


    • Volatility in the availability of wood (different types), which is the major raw material, is bigger concern in the plywood industry. Wood production is largely dependent on the quirks of nature: (good rainfall, adequate plantation), labor issues, wildfires, infestation etc. Also, farmers are finding wood production as a non-lucrative due to low margins and shifting towards other plantations. This might lead to a shortfall of availability of raw materials for plywood industry and negatively impacting the growth of the industry

    • Volatile chemical, adhesive or resin prices are significantly impacting the plywood industry due to supply chain issues amid pandemic

    • Manufacturing companies, including wood manufacturing industry worldwide, are setting energy goals/benchmarks while focusing on reducing emissions. Change in environmental norms, and safety regulations could potential impact the plywood production prices resulting in subdued market growth


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