Plywood Global Market Report 2026

Plywood is a type of wooden product wherein thin layers of wood are bonded and pressed together to create a construction material known for its high structural strength and flexibility. It possesses better resistance against moisture, and the wood grains are often arranged at right angles to each other. Plywood finds widespread use in interior design and furniture construction. In addition to being economical and durable, it is considered a more eco-friendly option compared to conventional wood.

The main types of plywood are categorized as softwood and hardwood. Softwood plywood features front and back veneers made from softwood, primarily used for decorative purposes such as furniture making. Plywood is utilized in various applications, including furniture, flooring, construction, automotive interiors, packaging, marine projects, and others. Its usage extends to both residential and commercial settings.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are impacting the plywood market by increasing costs of imported timber, veneers, adhesives, and pressing equipment used in plywood manufacturing. Construction and furniture sectors in North America and Europe are most affected due to reliance on imported wood inputs, while Asia-Pacific faces pricing pressure on export-oriented plywood production. These tariffs are raising material costs and affecting supply continuity. However, they are also encouraging domestic timber sourcing, regional plywood manufacturing expansion, and investments in plantation-based raw materials.

The plywood market research report is one of a series of new reports from The Business Research Company that provides plywood market statistics, including plywood industry global market size, regional shares, competitors with a plywood market share, detailed plywood market segments, market trends and opportunities, and any further data you may need to thrive in the plywood industry. This plywood market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The plywood market size has grown strongly in recent years. It will grow from $131.63 billion in 2025 to $138.33 billion in 2026 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to expansion of residential construction activities, growth in furniture manufacturing, increasing use of plywood in interior applications, availability of affordable wood-based panels, rising urbanization trends.

The plywood market size is expected to see strong growth in the next few years. It will grow to $173.48 billion in 2030 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to increasing demand for sustainable building materials, rising focus on green construction practices, expansion of modular furniture production, growing investments in engineered wood products, increasing preference for durable interior materials. Major trends in the forecast period include increasing demand for moisture-resistant plywood, rising use of engineered wood panels, growing adoption of eco-certified plywood, expansion of furniture-grade plywood applications, enhanced focus on structural strength.

The increase in construction activities is expected to drive the growth of the plywood market in the coming years. Construction involves assembling various components to develop structures at specific locations based on detailed designs and plans. Plywood is widely used in construction due to its structural strength, versatility, and cost efficiency. For example, in August 2024, according to the Sunshine Coast Council, an Australia-based local government body, the value of construction building approvals in the region reached a record $2.3 billion, representing an increase of $100 million compared with 2022-23. This milestone highlights the strong momentum in construction activity and reflects robust demand for building projects. Consequently, rising construction activities are fueling the growth of the plywood market.

Companies operating in the plywood market are increasingly focusing on the development of eco-friendly fire-retardant plywood to improve safety, durability, and structural performance. Eco-friendly fire-retardant plywood is a treated wood panel designed to achieve Class A fire resistance without the use of toxic chemicals, while retaining high mechanical strength. This enables enhanced fire protection, long-term durability, and reduced environmental impact. For instance, in April 2025, T2EARTH, a US-based sustainable wood technology company, introduced OnWood Plywood, an environmentally friendly fire-retardant plywood developed for fire-prone and high-humidity environments. The product features ICC-certified Class A fire performance, independently verified strength up to 91% higher than conventional treated plywood, and non-toxic, sustainably sourced materials. OnWood Plywood enhances safety compliance, structural reliability, and long-term cost efficiency in construction applications.

In March 2024, Richelieu Hardware, a Canada-based hardware manufacturing and distribution company, acquired Allegheny Plywood Company for an undisclosed amount. Through this acquisition, Richelieu sought to strengthen its market position by establishing distribution centers in Pittsburgh and Allentown, Pennsylvania, as well as Cleveland, Ohio. This move is intended to expand the company's US operations and enhance its product portfolio in specialized panels and decorative surfaces, supporting its broader regional growth strategy. Allegheny Plywood Company is a US-based wholesale distributor specializing in cabinet-grade hardwood, plywood, and industrial panel products.

Major companies operating in the plywood market are UPM-Kymmene Oyj, Boise Cascade Company, Metsa Group, West Fraser Timber Co Ltd, Weyerhaeuser Company, Georgia-Pacific LLC, Greenply Industries Limited, Sveza-Les LLC, Austal Plywoods Private Limited, Century Plyboards India Ltd, Kitply, Sarda Plywood, National Plywood, Kamdhenu Plywood, Oriental Veneer Products Ltd, Luli Group, Yingang Wood Based Panel Co Ltd, Shandong Xingang Group, Xinle Plywood Group, Jiangsu Shengyang Industrial Joint Stock Co Ltd, Specialized Panel Products Ltd, Ply-Tek, Caledonian Plywood Company, Holdex Plywood Ltd, Sydenhams Plywood & Panel Products, Viking Plywood & Timber Ltd, Timb Ply Ltd, Stora Enso, Segezha Group, KPPD-Szczecinek SA, Ilim Timber LLC, Sierra Pacific, Berneck

Asia-Pacific was the largest region in the plywood market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plywood market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the plywood market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The plywood market consists of sales of off-core plywood, lumber plywood, and marine plywood. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Plywood Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses plywood market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for plywood ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The plywood market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Type: Softwood; Hardwood
• 2) By Application: Furniture; Building And Construction; Transportation; Packaging; Other Applications
• 3) By End-User: Residential; Commercial
• Subsegments:
• 1) By Softwood: Pine Plywood; Spruce Plywood; Fir Plywood; Cedar Plywood; Larch Plywood
• 2) By Hardwood: Oak Plywood; Birch Plywood; Maple Plywood; Beech Plywood; Teak Plywood; Cherry Plywood
• Companies Mentioned: UPM-Kymmene Oyj; Boise Cascade Company; Metsa Group; West Fraser Timber Co Ltd; Weyerhaeuser Company; Georgia-Pacific LLC; Greenply Industries Limited; Sveza-Les LLC; Austal Plywoods Private Limited; Century Plyboards India Ltd; Kitply; Sarda Plywood; National Plywood; Kamdhenu Plywood; Oriental Veneer Products Ltd; Luli Group; Yingang Wood Based Panel Co Ltd; Shandong Xingang Group; Xinle Plywood Group; Jiangsu Shengyang Industrial Joint Stock Co Ltd; Specialized Panel Products Ltd; Ply-Tek; Caledonian Plywood Company; Holdex Plywood Ltd; Sydenhams Plywood & Panel Products; Viking Plywood & Timber Ltd; Timb Ply Ltd; Stora Enso; Segezha Group; KPPD-Szczecinek SA; Ilim Timber LLC; Sierra Pacific; Berneck
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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