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Plywood Market Size

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

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Plywood Market Size

Plywood Market size was valued at around USD 57.12 billion in 2023 and is estimated to register at a CAGR of over 6.4% from 2024 to 2032. Plywood is widely used for structural framing, flooring, roofing, and wall sheathing in residential buildings. Plywood finds applications in commercial buildings, offices, schools, and other non-residential structures.

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Plywood is a preferred material for cabinets, shelves, and storage units due to its stability and ease of finishing. Plywood is used to manufacture various types of furniture, from tables and chairs to beds and sofas.

Plywood Market Report Attributes
Report Attribute	Details
Base Year:	2023
Plywood Market Size in 2023:	USD 57.12 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.4%
2032 Value Projection:	USD 100.1 Billion
Historical Data for:	2018 to 2023
No. of Pages:	150
Tables, Charts & Figures:	191
Segments covered:	Type, Grade, End Use
Growth Drivers:	Growing construction industry Growing furniture industry Growing packaging industry
Pitfalls & Challenges:	Environmental Concerns Competition from Alternative Materials Market Volatility

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The plywood market relies on timber, and unsustainable logging practices can lead to deforestation and ecosystem disruption. Engineered wood products like oriented strand board (OSB) and medium-density fiberboard (MDF) compete with plywood in some applications. Market demand for plywood can be cyclical, influenced by factors such as economic conditions, housing starts, and consumer spending. Thus, the risks associated with plywood may drive down the acceptance rate, further hampering the business growth.

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.