Plywood Market to reach USD 100 billion by 2032, Says Global Market Insights Inc.
Major plywood market participants include Boise Cascade Company, Georgia-Pacific, Weyerhaeuser Company, UFP Industries, West Fraser Timber, PotlatchDeltic Corporation, Columbia Forest Products, Roseburg Forest Products, Louisiana-Pacific Corporation (LP), Martco LLC (RoyOMartin), Swanson Group, Plyco Corporation, Timber Products Company, Jamestown Mills, Plywood Express.
Selbyville, Delaware,, Nov. 14, 2023 (GLOBE NEWSWIRE) — The plywood market valuation is expected to cross USD 100 billion by 2032, as reported in a research study by Global Market Insights Inc. The escalating investments in novel production facilities, coupled with a growing trajectory of revenue generation, will favor market growth.
Hard wood plywood industry could exhibit a decent growth rate over 2023-2032. Hardwood plywood is in high demand due to its exceptional durability, versatility, and aesthetic appeal. It’s favored in various applications, including furniture, cabinetry, flooring, and interior paneling, for its strength and resistance to wear and tear. Its layered construction provides stability, reducing warping and ensuring longevity. Moreover, hardwood plywood offers a wide range of wood species and finishes, making it a preferred choice for both functional and decorative purposes in construction and interior design.
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MP grade segment will register a noteworthy CAGR from 2023 to 2032. MP grade plywood, known for its balanced combination of strength and affordability, is becoming increasingly popular in the construction and interior design sectors. Its versatility and cost-effectiveness make it a preferred choice for various applications, including cabinetry, flooring, and furniture. As the need for reliable yet economical materials grow, the plywood market demand from the MP-grade segment continues to increase.
The rising innovative product launches by leading brands in the region also support market expansion. For instance, in June 2023, Duroply, a renowned and seasoned plywood manufacturer in India, introduced an innovative product called ‘Techply’ – India’s inaugural ready-to-use plywood and board solution. Techply offers high levels of customization, allowing consumers to utilize it as they see fit. Its veneer-like finish makes it suitable for direct use in furniture, and it can also accommodate consumers who prefer veneer applications.
Asia Pacific plywood market will register a robust CAGR from 2023 to 2032, owing to rapid urbanization, infrastructure development, and construction projects in countries like China, India, and Southeast Asia. Plywood’s versatility and applications in construction, furniture, and interior design make it a crucial material. As Asia-Pacific economies continue to grow, the demand for plywood remains strong, emphasizing its essential role in the region’s development.
West Fraser Timber Co. Ltd., PotlatchDeltic Corporation, Martco LLC (RoyOMartin), Swanson Group, Plyco Corporation, Timber Products Company, Jamestown Mills, Inc., Plywood Express, Boise Cascade Company, Georgia-Pacific LLC, Weyerhaeuser Company, UFP Industries, Inc., among others. Companies within the plywood market are strategically engaging in a growing number of partnerships and acquisitions to enhance their market presence and strengthen their position.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Plywood industry 3600 synopsis, 2018 – 2032
2.2 Business trends
2.3 Wood type trends
2.4 Grade trends
2.5 Application trends
2.6 Regional trends
Chapter 3 Plywood Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.3 Growth potential analysis
3.3.1 By wood type
3.3.2 By grade
3.3.3 By application
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.6 Pricing analysis, 2022
3.7 Reimbursement scenario
3.8 Technology landscape
3.9 Future market trends
3.10 GAP analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
3.13 Impact of Russia Ukraine war
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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