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Plywood Market Analysis

  • Report ID: GMI6710
  • Published Date: Sep 2023
  • Report Format: PDF

Plywood Wood Market Analysis

The soft wood segment accounted for USD 32.5 billion in 2022. Softwood plywood is widely used in construction for structural framing, sheathing, and roofing due to its strength and availability. Softwood plywood is often more affordable compared to hardwood alternatives, making it suitable for large-scale projects. Thus, the growing prevalence is expected to expedite the plywood market growth.

Plywood Market Revenue Share, By Grade, (2023)

The other grade segment acquired around 34% market share in 2022 and is likely to grow at a lucrative pace by 2032. Structural grade plywood is used when a smooth and high-quality finish is desired, making it suitable for visible surfaces in furniture and cabinetry.

The construction and building application held a dominant market share in 2022 and is set to grow at a 7.3 % CAGR through 2032. Plywood is used in construction for its strength and stability in structural applications like roofing, walls, floors, and formwork. Thus, the high-quality services and growing usage of plywood are estimated to expedite the plywood market growth.

U.S. Plywood Market Size, 2021- 2032 (USD Billion)

U.S. dominated the North American region with majority market share and a revenue of USD 10.66 billion in 2022 and is anticipated to expand at a significant pace from 2023 to 2032. Population growth and urbanization drive the demand for residential construction, including single-family homes, apartments, and condominiums. Thus, the above-mentioned variables would augment the plywood business growth in the North America positively.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of plywood was exceeded USD 57.12 billion in 2023 and will reach USD 100.1 billion by 2032, due to its widespread application in commercial buildings, offices, schools, and other non-residential structures worldwide.

Soft plywood market size crossed USD 32.5 billion in 2022 and will incur significant growth from 2023 to 2032, on account of its widespread usage in construction for structural framing, sheathing, and roofing.

U.S. plywood industry recorded USD 10.66 billion in 2022 and is expected to witness appreciable growth from 2023 to 2032, owing to the rapid population growth and urbanization leading to demand for residential construction in the region.

Boise Cascade Company, Georgia-Pacific LLC, Weyerhaeuser Company, UFP Industries, Inc., West Fraser Timber Co. Ltd., PotlatchDeltic Corporation, Columbia Forest Products, and Roseburg Forest Products, are some of the major plywood companies worldwide.

Plywood Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 191
  • Countries covered: 21
  • Pages: 150
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