Market Research Reports, Business Consulting Services & Analytics

Plywood Market size is forecast to reach US$61.3 billion by 2027 after growing at a CAGR of 5.2% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, October 28, 2022 /EINPresswire.com/ -- Plywood Market size is forecast to reach US$61.3 billion by 2027 after growing at a CAGR of 5.2% during the forecast period 2022-2027. Plywood is an engineered wood product. Plywood is generally made from wood veneers that are peeled from a log and are bonded together with an adhesive. A range of wood species, including hardwood and softwood can be used to made plywood. Plywood is preferred for cabinets as it is more durable and lighter when compared to particle board. Plywood can be used in both interior and exterior applications. Plywood’s strength and durability make it suitable for usage in floorings, walls, ceilings, packaging containers, furniture, musical instruments, shipbuilding, and so on. The trend of do-it-yourself (DIY) and flatpack furniture drives the plywood market during the forecast period.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Plywood-Market-Research-508149

Key takeaways:

This IndustryARC report on the Plywood market highlights the following areas -

1. Asia-Pacific dominates the plywood market, on account of the growing construction activities in the region. According to Invest India, the construction industry in India is expected to reach $1.4 trillion by 2025.

2.Plywood is an engineered wood product made from thin sheets of wood veneer. It is one of the most widely used wood products.

3. Plywood is used in construction because of its strength and durability, and also in furniture making because of its versatility.
The growing economy presents a major opportunity for this market as construction improves, the demand for plywood will rise.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=508149

Segmental Analysis:

1. The softwood segment held the largest share in the plywood market up to 30% in 2021. The popularity of plywood has increased due to its versatility and various advantages, such as high-impact resistance, chemical resistance, high structural stability, durability, stiffness, and dimensional surface stability.

2. It is chosen for its fast curing and wide operating window. Urea adhesives are cured at lower pH and elevated temperatures. It is the most used adhesive in the wood industry, 70% of it is consumed by the wood industry. However, there have been concerns over formaldehyde emissions leading to the development of alternate adhesives. Associations around the world ensure that plywood sold is low emission or safe to use.

3. According to the United States Department of Agriculture (USDA), US residents spend at least $1 billion on termite control and repairs each year. Termites can cause significant damage to houses and furniture. Hence, it is better to prevent termite infestation by using construction materials that are termite resistant. Hence, the MR grade is anticipated to dominate the plywood market.

4. On account of these properties, plywood is used in building and construction, particularly in walls, floors, roofs, doors, exterior siding, and interior finishing (e.g., wall paneling). After a turbulent year in 2020, the construction industry is on a recovery path. According to data from the US Department of Commerce, residential starts rose 1.4% to 1.70 million in December 2021 from a 1.68 million pace in November 2021. For all of 2021, 1.6 million homes were started, a 15.6% increase from 2020.

Competitive landscape:

The top 5 players in the Plywood industry are:

1. Weyerhaeuser Company
2. UPM-Kymmene Oyj
3. LIXIL Corporation
4. Century Plyboards Ltd.
5. Georgia Pacific LLC

Click on the following link to buy the Plywood Market Report:
https://www.industryarc.com/reports/request-quote?id=508149

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Wood Coatings Market
https://www.industryarc.com/Report/11720/wood-coatings-market.html

B. Particle Board Market
https://www.industryarc.com/Research/Particle-Board-Market-Research-503195

Contact Us:

Mr. Venkat Reddy
IndustryARC
Email: venkat@industryarc.com, sales@industryarc.com
USA: (+1) 970-236-3677, (+1) 815-656-4596
IND: (+91) 40-485-49062

Venkat Reddy
IndustryARC
+1 614-588-8538
venkat@industryarc.com
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.