PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1752397
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1752397
The global plywood market size is projected to reach USD 60.31 billion by 2030 from USD 47.39 billion in 2024, at a CAGR of 4.21%. Plywood is widely used in furniture, packaging, agriculture, building and construction, interiors, roofing, and flooring. It serves a broad range of industries by providing structural support to both the interior and exterior of materials. By enhancing the weatherability and durability of plywood, manufacturers can maintain product quality, lower maintenance costs, and comply with stringent regulations and global standards. The type of plywood used, whether hardwood or softwood, entirely depends on the consumer's intended use. Rapid urbanization worldwide is also driving the growing demand for plywood.
Scope of the Report | |
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Years Considered for the Study | 2020-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million) and Volume (Million Cubic Meter) |
Segments | Type, Application, Use Type, and Region |
Regions covered | Asia Pacific, Europe, North America, Middle East & Africa, and South America |
"Hardwood segment accounted for the largest market share in 2024"
The rising demand for high-quality, long-lasting, and visually appealing materials in furniture, cabinets, and interior design has increased the adoption of hardwood in the plywood market. This is primarily due to its strength, refined finish, and attractive patterns. As the global middle class expands, particularly in Asia Pacific, people are seeking premium, customized, and aesthetically pleasing furniture, which increases the need for hardwood. Sustainability is also a key factor. The growing awareness of eco-friendly construction materials and stricter regulations are driving both manufacturers and consumers toward this type of plywood, as it is often certified and proven to be more sustainable.
"Industrial segment is projected to register the fastest growth in the plywood market, in terms of value, during the forecast period."
The industrial segment is projected to be the fastest-growing application in the global plywood market during the forecast period. The growth is largely driven by the increased use of material handling products, transport equipment, and structural uses like wall and roof bracings. However, construction continues to hold the largest share of the plywood market, primarily due to substantial demand for global building and infrastructure projects. Industrial usage is rapidly increasing as industries seek durable, cost-effective, and flexible materials to meet their specialized needs. This growth is bolstered by demand in logistics, manufacturing, and technology, positioning industrial applications as a dynamic and rapidly expanding segment within the global plywood market.
"Europe accounted for the third-largest share of the plywood market, in terms of value, in 2024."
This dominance of Europe in the global plywood market is driven by its established production base, rigorous environmental and safety standards, and dominant presence of major end-use industries like furniture, packaging, and building & construction. The region's regulatory authorities impose stringent standards on product durability and environmental sustainability, leading manufacturers to invest in plywood technologies to guarantee durability and sustainability. The growing emphasis of countries on innovation and R&D, as well as the presence of major global players, further supports the regions' role in driving market trends and product performance.
The key players profiled in the report include Georgia-Pacific (US), Boise Cascade Company (US), Weyerhaeuser Company (US), UPM (Finland), SVEZA Group (Russia), Austral Plywoods (Australia), PotlatchDeltic Corporation (US), Greenply Industries Limited (India), Metsa Group (Finland), and CenturyPly (India).
Research Coverage
This report segments the plywood market based on type, application, use type, and region, and provides estimations of value (USD Million) for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, services, and key strategies associated with the plywood market.
Reasons to Buy this Report
This research report is focused on various levels of analysis - industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the plywood market; high-growth regions; and market drivers, restraints, and opportunities.