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Base Year: 2024
Companies covered: 30
Tables & Figures: 215
Countries covered: 22
Pages: 215
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Softwood Veneer and Plywood Market
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Softwood Veneer and Plywood Market Size
The global softwood veneer and plywood market size was estimated at USD 91.5 billion in 2024 and is expected to grow at a CAGR of 5.9% from 2025 to 2034, owing to increased construction activities, growing inclination towards green wood resources, and the adoption of softwood wood products globally have added fuel to the market.
The development of the market is steady as nations focus on environmentally friendly infrastructural advancements and economical wood derived materials for industrial and civil purposes. In comparison with hardwood substitutes, softwood plywood is preferred due to its versatility, ease of use, and lower production costs, leading to further usage in major regions.
Growth in use of softwood veneers and plywood in structural frames, furniture, and other auxiliaries, particularly in urban regions of developing economies, further escalates the market's prospects. With governments focusing on developmental activities, there is a rise in demand for housing and infrastructural facilities. The ability of softwood plywood to cater to interior and exterior applications enhances its economic value and its range of use.
Softwood plywood and veneer products face immense change due to global sustainability standards which helps employers focus on timber that is emission efficient during the manufacturing process and eco certifiable for constructions. Strides made in veneer pressing and glue application also improve product endurance, destruction tolerance, and performance throughout the product lifecycle. These changes enable stronger supplier positioning and further improve the market.
Softwood Veneer and Plywood Market Trends
Tariff Impact
In 2025, the imposition of a 25% tariff on Canadian softwood lumber over and above the 14.5% duty already in place has drastically changed the U.S. softwood veneer and plywood market complexion. Apparently, these tariffs have increased the cost of imported construction materials by over USD 3 billion, as per the National Association of Home Builders (NAHB).
Increase in costs caused softwood products, along with plywood so vital to the construction industry, to sell at higher prices. Higher prices have added some USD 35,000-USD 45,000 in costs to building a new home in the U.S. For that reason, demand for these materials has softened, especially in price-sensitive markets, where builders or consumers are struggling with affordability.
In conclusion, the tariffs of 2025 have led to increased costs, supply chain adjustments, and market volatility affecting both producers and consumers.
Softwood Veneer and Plywood Market Analysis
Based on product type, the softwood veneer and plywood market is divided into softwood veneer, softwood plywood, laminated veneer lumber (LVL), and other product types. Softwood Veneer segment generated a revenue of USD 41.7 billion in 2024 and USD 75.4 billion in 2034 at a CAGR of 6.1%.
Based on end use industry, the market is divided into residential construction, commercial construction, industrial construction, furniture industry, packaging industry, shipbuilding industry, and other end use industries. In 2024, Residential Construction segment held major market share, accounted for 43.3% share.
China softwood veneer and plywood market generated a revenue of USD 18.3 billion in 2024. China market is projected to grow at a CAGR of 5.9% reaching USD 32.6 billion by 2034 as it is driven by increased the consumption.
Softwood veneer and plywood market in the U.S. is expected to experience promising growth from 2025 to 2034 due to growth of increasing consumption within the country.
Softwood Veneer and Plywood Market Share
Top 5 companies in the softwood veneer and plywood industry are UPM-Kymmene Oyj, Georgia-Pacific LLC, Weyerhaeuser Company, Boise Cascade Company, and Egger Group which leads to stiff competition in the market. These firms form a considerable portion of the industry because of their large production capacities, international supply chains, and persistent efforts to innovate. For example, the Finnish forest industry company, UPM-Kymmene operates eight plywood mills in Finland and Estonia, therefore making it the biggest plywood manufacturer in Europe.
Such increased competition in this industry stems from mergers and acquisitions, new product creations, and new technology developments. Additionally, in June 2022, Boise Cascade Company acquired Coastal Plywood for USD 512 million and boosted Coastal's market presence in the eastern United States. Furthermore, competitors are concentrating on meeting policy standards and consumer expectations by emphasizing eco-friendly products. This is also seen in Greenply Industries which is an Indian based plywood manufacturer that introduced India's first zero-emission (E-0) grade plywood named "Green Club Plus 700" in 2020. This marks an important milestone in sustainable manufacturing practices for the industry.
Softwood Veneer and Plywood Market Companies
UPM-Kymmene Oyj Ù: WISA brand softwood plywood construction and transport has a marked brand claim in Europe, as well as in Nordic and Baltic regions where softwood plywood is widely recognized. UPM is engaged with European softwood plywood manufacturers to learn more about sustainable bio-based materials, emission production, and green building initiatives.
Georgia-Pacific LLC: Blue Ribbon and DryPly branded softwood plywood were produced by Georgia-Pacific, who is one of America’s largest manufacturers. The company utilizes its enormous value chain for raw material procurement, production, and distribution all over North America. Investment in automated structures and resilient supply inventories set up met changing demand in the construction segment of the economy.
Weyerhaeuser Company: Weyerhaeuser vertically integrates timberland profiting with engineered wood products controlling softwood plywood supply chain s. Moisture resistance, strength, and overall performance are the highlights of the Structured line. Shifting to digital forestry and managed sustainable timber resources are parts of longer-term environmental goals systems being put into place by the company.
Boise Cascade Company: Boise Cascade combines residential and industrial construction diagnosis and provided them with tailored plywood solutions. Acquiring Coastal Plywood incorporated boosted the regional presence of the company to widen US manufacturing scope into large-scale operational facilities. While also maintaining strict delivery times, customization, and product quality forbed them to stay competitively active.
Egger Group: The global markets of softwood-based panels and structural plywood are served by Austria-based Egger Group. It is known for innovation as it integrates digital printing and surface technologies into its products. To serve European and North American markets, Egger puts an emphasis on sustainable sourcing and product differentiation.
Softwood Veneer and Plywood Industry News:
The softwood veneer and plywood market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) & volume (Tons) from 2021 to 2034, for the following segments:
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Market, By Product Type
Market, By Wood Species
Market, By Grade
Market, By Application
Market, By End Use Industry
Market, By Distribution Channel
The above information is provided for the following regions and countries: