IMARC Group, a leading market research company, has recently releases report titled “Plywood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global plywood market market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the plywood market?
Report Attributes
Details
Market Size in 2022
US$ 45.5 Billion
Market Forecast in 2028
US$ 62.3 Billion
Growth rate (2023 to 2028)
CAGR of 5.27%
Base Year of the Analysis
2022
Forecast Period
2023-2028
What is Plywood?
Plywood refers to a kind of engineered wood made from thin coats of wood veneer, or plies, that are attached together with alternating grain patterns. This construction technique gives plywood its characteristic strength and durability, as well as resistance to warping and splitting. Plywood comes in a variety of grades, thicknesses, and sizes, and can be used for a wide range of applications, such as furniture, cabinetry, flooring, and construction. The most common types of plywood are made from softwood, such as pine or fir, or hardwood, such as birch or oak. Plywood is an affordable and versatile material that is widely used in both residential and commercial settings.
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What are the growth prospects and trends in the plywood industry?
The expanding construction industry represents a key factor driving market growth across the globe. This is primarily attributed to the increasing demand for housing and commercial buildings and the rising number of infrastructure projects, which is driving the demand for plywood, thus contributing to the market growth. In addition to this, the rising demand for plywood in furniture production due to the durability, strength, and versatility of the product is contributing to the growth of the market. The market is also driven by the development of advanced manufacturing techniques, such as computer numerical control (CNC) machines and digital printing, enabling the production of high-quality plywood with intricate designs and patterns. In line with this, the increasing focus on sustainable and green building practices is creating a positive outlook for the market.
Who are the key players operating in the industry?
The report covers the major market players including:
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Residential and Commercial Application:
Breakup by New Construction and Replacement Sector:
Breakup by Region:
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