Global Plywood Market is driven by increasing building and construction activities

Plywood is a wood panel made from thin sheets of wood veneer which are glued together with adjacent plies having their wood grain rotated up to 90 degrees to one another. It is often used in the building industry for construction applications such as walls, floors, tables, cabinets, and furniture among others. The products are durable, moisture-resistant and offer high dimensional stability which makes it a preferable option over conventional wood panels. The global plywood market is experiencing high growth owing to rapid urbanization and industrialization which has accelerated infrastructure development activities worldwide.

The plywood market is estimated to be valued at USD 61.47 Bn in 2024 and is expected to reach USD 95.53 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

Key Takeaways

Key players operating in the plywood market are Greenply Industries, Eksons Corporation Bhd, Weyerhaeuser Company, Jaya Tiasa Holdings Berhad, and Uniply Industries Ltd. These major players account for over 30% of the global market share.

Growing Plywood Market Demand from the construction industry is one of the major factors fueling market growth. Rapid urbanization and rising residential and commercial construction activities in emerging economies are creating significant opportunities for plywood manufacturers.

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