Plywood Market Report 2024 (Global Edition)

Global Plywood Market Report 2024 Market Size Split by Size (4’x8’, 4’x6’, 4’x10’, 3’x6’, Others), by Application (Furniture, Flooring & Construction, Automotive Interiors, Packaging, ...

Plywood Market Report Description

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Competitive Landscape of the Plywood Market

In the Plywood Market, the competitive landscape is characterized by diverse players striving for market share. Manufacturers compete based on product quality, pricing, innovation, and distribution networks. Key factors influencing competition include technological advancements in manufacturing processes, sustainability initiatives, and brand reputation. Moreover, regional market dynamics and regulatory compliance also shape the competitive environment. To maintain a competitive edge, companies focus on enhancing product differentiation, optimizing supply chains, and adapting to evolving customer preferences, driving continuous innovation and market growth.

Top Companies Market Share in Plywood Industry: (In no particular order of Rank)

• Georgia Pacific LLC
• PotlatchDeltic Corporation
• Weyerhaeuser Company Ltd.
• Boise Cascade Company
• UPM-Kymmene Oyj
• SVEZA Forest Ltd.
• Metsä Wood (Metsäliitto Cooperative)
• Latvijas Finieris AS
• Austral Plywoods Pty Ltd.
• Eksons Corporation Berhad (BHD)
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Plywood Market

Which Region Dominates the Plywood Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to robust construction activities in residential, commercial, and infrastructure sectors. Moreover, growing demand for furniture and interior décor further boosts sales. Technological advancements in manufacturing processes enhance product quality and efficiency, attracting more consumers. Additionally, stringent regulations promoting sustainable forestry practices bolster market growth. Expansion of distribution networks ensures wider market reach, while rising disposable incomes propel consumer spending, contributing to increased sales.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific stands out as the fastest-growing region in the Plywood market driven by rapid urbanization and industrialization. Infrastructure development projects, such as roads, bridges, and airports, fuel demand for plywood in construction applications. Additionally, burgeoning population and rising incomes stimulate the housing sector, leading to increased consumption of plywood for residential projects. Adoption of modern manufacturing technologies enhances production capacities and product quality, meeting the escalating demand. Furthermore, favorable government initiatives supporting the construction industry and foreign investments in the region contribute to the burgeoning sales of plywood.

The current report Scope analyzes Plywood Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Plywood

According to Cognitive Market Research, the global Plywood market size was estimated at USD 55812.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 22324.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. In North America, plywood sales are poised to increase due to robust demand from the construction and renovation sectors. The region's focus on sustainable building practices drives demand for eco-friendly plywood products, supporting market growth. Additionally, the rise in DIY projects amid stay-at-home trends during the pandemic boosts retail sales of plywood. Moreover, the recovery of the housing market post-recession stimulates demand for plywood in residential construction. Furthermore, government infrastructure spending initiatives propel sales for plywood used in public infrastructure projects. The dominating category in North America, 4'x8' plywood, will continue to grow due to its versatility and widespread usage in construction and furniture making. According to Cognitive Market Research, The United States plywood market had a market share of USD 17,614.33 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. In the United States, plywood sales will increase due to rising demand in residential construction and renovation projects, driven by population growth and favourable economic conditions. Canada plywood market had a market share of USD 2,678.99 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. In Canada, plywood sales will rise as the construction industry expands, fuelled by infrastructure investments and urbanization trends, driving demand for plywood in various applications. Mexico plywood market had a market share of USD 2,031.56 million in 2024 and is projected to grow at a CAGR of 5.7% during the forecast period.

Europe Plywood

According to Cognitive Market Research, the global Plywood market size was estimated at USD 55812.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 16743.66 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. In Europe, plywood sales are set to increase owing to the growing preference for modular construction solutions. Plywood's lightweight and customizable nature make it ideal for modular housing, driving market demand. Additionally, stringent building regulations mandating sustainable and fire-resistant materials bolster sales of certified plywood products. Moreover, the rise in urbanization and infrastructure development projects in Eastern Europe fuels demand for plywood in construction applications. Furthermore, the revival of the furniture industry post-pandemic boosts sales of plywood for interior furnishings. The dominating category in Europe, MR grade plywood, will see growth driven by its moisture-resistant properties, vital for the region's humid climates. The United Kingdom plywood market had a market share of USD 2,812.93 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. In the United Kingdom, plywood sales will increase due to the government's focus on affordable housing initiatives, stimulating construction activities and boosting demand for plywood materials. France plywood market had a market share of USD 1,540.42 million in 2024 and is projected to grow at a CAGR of 4.7% during the forecast period. Germany plywood market had a market share of USD 3,315.24 million in 2024 and is projected to grow at a CAGR of 5.7% during the forecast period. In Germany, plywood sales will rise as the manufacturing sector grows, increasing the demand for plywood in packaging and industrial applications to support export-oriented industries. Italy plywood market had a market share of USD 1,439.95 million in 2024 and is projected to grow at a CAGR of 4.9% during the forecast period. Russia plywood market had a market share of USD 2,595.27 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. Spain plywood market had a market share of USD 1,372.98 million in 2024 and is projected to grow at a CAGR of 4.6% during the forecast period. Luxembourg plywood market had a market share of USD 519.05 million in 2024 and is projected to grow at a CAGR of 5.6% during the forecast period. Portugal plywood market had a market share of USD 351.62 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. Greece plywood market had a market share of USD 200.92 million in 2024 and is projected to grow at a CAGR of 5.8% during the forecast period. Rest of Europe plywood market had a market share of USD 2,595.27 million in 2024 and is projected to grow at a CAGR of 4.2% during the forecast period.

Asia Pacific Plywood

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According to Cognitive Market Research, the global Plywood market size was estimated at USD 55812.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 12836.81 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031. In the Asia Pacific region, plywood sales are poised for growth due to rapid urbanization and industrialization. The burgeoning construction sector in emerging economies like India and China drives demand for plywood in residential and commercial projects. Moreover, government initiatives promoting affordable housing and infrastructure development stimulate market growth. Additionally, the surge in e-commerce platforms enhances accessibility to plywood products, particularly in rural areas. Furthermore, the rise in disposable incomes and changing lifestyles fuel demand for high-quality plywood for furniture and interior decor. The dominating category in Asia Pacific, softwood plywood, will continue to grow due to its affordability and suitability for structural applications. According to Cognitive Market Research, China plywood market had a market share of USD 5,776.56 million in 2024 and is projected to grow at a CAGR of 8.5% during the forecast period. Japan plywood market had a market share of USD 1,771.48 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. In China, plywood sales will increase due to rapid urbanization and infrastructure development, driving demand for plywood in construction, furniture, and packaging industries. India plywood market had a market share of USD 1,540.42 million in 2024 and is projected to grow at a CAGR of 10.8% during the forecast period. In India, plywood sales will rise with the growing middle class and increasing disposable incomes, spurring demand for plywood in residential and commercial construction projects. South Korea plywood market had a market share of USD 1,283.68 million in 2024 and is projected to grow at a CAGR of 8.1% during the forecast period. Australia plywood market had a market share of USD 667.51 million in 2024 and is projected to grow at a CAGR of 8.7% during the forecast period. South East Asia plywood market had a market share of USD 885.74 million in 2024 and is projected to grow at a CAGR of 10.0% during the forecast period. Rest of Asia Pacific plywood market had a market share of USD 911.41 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period.

South America Plywood

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According to Cognitive Market Research, the global Plywood market size was estimated at USD 55812.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 2790.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031. In Latin America, plywood sales are set to increase due to expanding construction activities in urban centers. The region's focus on sustainable forestry management drives demand for certified plywood products, supporting market growth. Additionally, the rise in tourism stimulates demand for plywood in hotel and resort construction projects. Moreover, government investments in infrastructure development, such as roads and bridges, bolster market demand. Furthermore, the growing popularity of plywood as a cost-effective and durable material for packaging drives sales in the logistics sector. The dominating category in Latin America, BWR grade plywood, will see growth driven by its resistance to water damage, essential in the region's tropical climates. According to Cognitive Market Research, the Brazil plywood market had a market share of USD 1,194.38 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. In Brazil, plywood sales will increase as the housing market rebounds, supported by government incentives and low-interest rates, driving demand for plywood in construction and furniture manufacturing. Argentina plywood market had a market share of USD 468.82 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. In Argentina, plywood sales will rise due to the recovery of the construction sector and increased investment in infrastructure projects, boosting demand for plywood materials. Colombia plywood market had a market share of USD 248.36 million in 2024 and is projected to grow at a CAGR of 6.2% during the forecast period. Peru plywood market had a market share of USD 228.83 million in 2024 and is projected to grow at a CAGR of 6.6% during the forecast period. Chile plywood market had a market share of USD 200.92 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period. Rest of Latin America plywood market had a market share of USD 449.29 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period.

Middle East and Africa Plywood

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According to Cognitive Market Research, the global Plywood market size was estimated at USD 55812.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 1116.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031. In the Middle East & Africa region, plywood sales are poised for growth due to rapid urbanization and infrastructure development. The region's focus on smart city initiatives drives demand for plywood in construction projects, particularly for building facades and interior finishing. Additionally, the expansion of the hospitality sector stimulates demand for plywood in hotel and restaurant renovations. Moreover, government investments in renewable energy projects spur market growth, as plywood is used in solar panel installations. Furthermore, the rise in consumer spending on home improvement projects boosts retail sales of plywood. The dominating category in MEA, BWP grade plywood, will see growth driven by its resistance to water and humidity, essential in the region's arid and humid climates. The GCC Countries plywood market had a market share of USD 477.75 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. In GCC Countries, plywood sales will increase with the expansion of the construction industry and infrastructure projects, driven by population growth and government investments in diversifying economies. Egypt plywood market had a market share of USD 117.21 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. South Africa plywood market had a market share of USD 176.37 million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period. In South Africa, plywood sales will rise as the construction sector recovers from the pandemic, supported by infrastructure spending and demand for plywood in residential and commercial building projects. Turkey plywood market had a market share of USD 96.00 million in 2024 and is projected to grow at a CAGR of 6.2% during the forecast period. Nigeria plywood market had a market share of USD 117.21 million in 2024 and is projected to grow at a CAGR of 5.8% during the forecast period. Rest of MEA plywood market had a market share of USD 131.72 million in 2024 and is projected to grow at a CAGR of 5.7% during the forecast period.

Plywood Market Analysis

Plywood Market Size Segment Analysis

According to Cognitive Market Research, 4’x8’ stands out as the dominating category due to its widespread use in construction projects, furniture making, and interior finishing. Its standard size makes it versatile and easily adaptable to various applications, driving consistent demand. Moreover, its compatibility with existing machinery and standardized building practices further enhances its appeal. Additionally, its availability in different grades and thicknesses caters to diverse consumer needs, consolidating its position as the leading category in the plywood market.

4’x10’ emerges as the fastest-growing category in the plywood market owing to its suitability for large-scale construction projects and industrial applications. The larger size reduces the need for additional cutting and fitting, streamlining installation processes and saving time and labor costs. Furthermore, its use in specialty applications, such as architectural paneling and formwork, contributes to its rapid growth. Additionally, increasing demand for prefabricated construction solutions and modular furniture fuels the adoption of 4’x10’ plywood, propelling its market expansion.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Plywood Industry. Request a Free Sample PDF!

Plywood Market Application Segment Analysis

According to Cognitive Market Research, flooring & construction stands out as the dominating category due to the steady demand for plywood in residential, commercial, and infrastructure projects. Plywood serves as a fundamental material for subflooring, underlayment, and structural support in flooring and construction applications. Its durability, stability, and ease of installation make it a preferred choice among contractors and builders. Moreover, advancements in manufacturing processes have led to the development of specialized plywood products tailored for specific flooring and construction needs, further bolstering sales in this category.

Marine emerges as the fastest-growing category in the plywood market due to the increasing demand for plywood in marine applications. Marine-grade plywood is specially engineered to withstand harsh marine environments, including exposure to moisture, saltwater, and marine organisms. Its superior durability, waterproof properties, and resistance to rot and fungal decay make it indispensable for boat building, dock construction, and other marine structures. Additionally, innovations in marine-grade plywood technology have led to the development of lighter, stronger, and more sustainable alternatives, driving its adoption and market growth in the marine sector.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Plywood Number of Ply Segment Analysis

According to Cognitive Market Research, the dominating category is 3 ply due to its versatility, affordability, and widespread applications. 3 ply plywood is commonly used in interior finishing, furniture making, and DIY projects due to its ease of handling and installation. Additionally, its balanced construction provides adequate strength and stability for most residential and light commercial applications. Furthermore, its availability in various grades and finishes caters to diverse consumer preferences, driving sustained sales growth in the plywood market.

The fastest-growing category in the plywood market is 7 ply due to its superior strength and durability. 7 ply plywood is favored for demanding structural applications, heavy-duty furniture, and industrial uses where robustness is essential. Additionally, its multi-layered construction enhances dimensional stability and resistance to warping or bending. Moreover, advancements in manufacturing technologies enable the production of high-quality 7 ply plywood with improved performance characteristics, driving its adoption and market expansion.

• 3 ply
• 5 ply
• 7 ply
• More

Plywood Thickness Segment Analysis

According to Cognitive Market Research, the dominating category is 8mm-18mm due to its versatility and suitability for various construction and woodworking applications. Its moderate thickness provides optimal strength and stability for structural components, furniture, and interior finishing. Additionally, it strikes a balance between cost-effectiveness and performance, appealing to a wide range of consumers. Moreover, its availability in different grades and wood types allows for customization, further enhancing its market demand and reinforcing its position as the leading category.

The fastest-growing category in the plywood market is <8mm due to the increasing demand for lightweight and flexible plywood solutions. Its thinner profile makes it ideal for applications requiring flexibility and ease of handling, such as paneling, laminating, and packaging. Additionally, its reduced weight and cost-effectiveness make it attractive for projects where weight savings and budget considerations are crucial factors. Furthermore, advancements in manufacturing technology enable the production of <8mm plywood with improved strength and durability, driving its adoption and market growth.

• <8mm
• 8mm-18mm
• >18mm

Plywood Grade Segment Analysis

According to Cognitive Market Research, the dominating category is MR grade due to its widespread use in interior applications where moisture resistance is essential, such as furniture, cabinets, and paneling. Its affordability and availability make it a popular choice among consumers for a wide range of projects. Additionally, its versatility allows for easy customization and finishing, catering to diverse customer needs. Moreover, its compatibility with various adhesives and finishes further contributes to its market dominance and steady sales growth.

The fastest-growing category in the plywood market is fire resistant grade due to increasing awareness and stringent safety regulations in construction. With rising concerns over fire hazards, demand grows for plywood that offers enhanced fire resistance properties, especially in commercial and public buildings. Additionally, advancements in fire-retardant technologies and materials drive the development of innovative fire-resistant plywood solutions, further fueling its adoption and market expansion. Moreover, government mandates mandating fire-resistant materials in construction projects propel the sales of fire-resistant grade plywood.

• MR Grade
• BWR Grade
• Fire Resistant Grade
• BWP Grade
• Structural Grade

Plywood Wood Type Segment Analysis

According to Cognitive Market Research, hardwood stands out as the dominating category due to its exceptional durability, strength, and aesthetic appeal. Hardwood plywood is favored for high-end furniture, cabinetry, and architectural applications where quality and appearance are paramount. Additionally, its natural resistance to wear and tear makes it suitable for demanding environments. Moreover, the availability of hardwood plywood in various hardwood species offers versatility and customization options, catering to diverse consumer preferences and driving sustained sales growth.

Softwood emerges as the fastest-growing category in the plywood market due to its affordability, availability, and versatility. Softwood plywood finds extensive use in structural applications, construction projects, and industrial packaging where strength and cost-effectiveness are critical factors. Moreover, its lightweight nature makes it ideal for transportation and handling. Additionally, advancements in manufacturing processes enable the production of high-quality softwood plywood with enhanced durability and performance, further accelerating its adoption and market growth.

• Softwood
• Hardwood

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals 
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion