Global Plywood Market Analysis –Trends, Insights & Forecasts (2023-2030)

  • Publish Date
    September 23, 2023
  • No of Pages
  • SKU Code
    GIR 7921
  • Format

Report Overview

  • Understand the latest market trends and future growth opportunities for the Plywood industry globally with research from the Global Industry Reports team of in-country analysts – experts by industry and geographic specialization.
  • Key trends are clearly and succinctly summarized alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight, and confident growth projections.
  • The report will cover the overall analysis and insights in relation to the size and growth rate of the “Plywood Market” by various segments at a global and regional level for the 2010-2030 period, with 2010-2021 as historical data, 2022 as a base year, 2023 as an estimated year and 2023-2030 as forecast period.


  • The global market for Plywood estimated at US$147.2 Billion in the year 2022, is projected to reach a revised size of US$225 Billion by 2030, growing at a CAGR of 5.4% over the period 2022-2030.
  • Hardwood, one of the segments analyzed in the report, is projected to record 5.8% CAGR and reach US$158.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Softwood segment is readjusted to a revised 4.5% CAGR for the next 8-year period.
  • The Plywood market in the U.S. is estimated at US$40.1 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$50 Billion by the year 2030 trailing a CAGR of 9.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 4.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.
  • Plywood is widely used in construction due to its beneficial qualities. It is a cost-effective wood sheet that is accurately manufactured, resistant to warping and cracking in moisture. Plywood can be categorized based on wood type, number of plies, indoor/outdoor suitability, quality standards, and intended purposes.

Plywood Market 2023

Plywood Market Drivers:

Expanding production capacity is a common strategy employed by manufacturers to increase business volume. When demand rises, it becomes necessary to enhance production capabilities, considering it as a critical aspect of the value chain that requires investment. Capacity expansion involves defining the required process machinery and workforce. Manufacturers often adopt a “lead capacity strategy” by seeking out developing countries as future industrial centers. These countries offer ample opportunities for development, construction, and new industrial establishments. Plywood, known for its cost-effectiveness and durability, experiences high demand in such regions. Despite the initially high setup costs, many manufacturers choose to expand production capacity due to promising market potential and long-term return on investment. For a comprehensive overview of industry value, including construction, please refer to the table below, which presents the value added in USD million.

Plywood Market Restraints:

The price volatility of plywood over time has significant implications for both distributors and consumers. To meet the demand for reliable, high-quality, and cost-effective products, the industry has turned to alternatives such as Medium-Density Fiberboard (MDF). MDF is an engineered wood board created by combining small pieces of softwood and hardwood with wax and resin binder under high temperature and pressure. It is then given the appearance of a board using a panel. Compared to other plywood types, MDF is generally more affordable, which has contributed to its remarkable growth in the Asia Pacific market. MDF offers a relatively flat surface, making it ideal for painting, and its uniform composition ensures smooth, void-free edges when cut. These attributes have hindered the growth of plywood in the projected period.

Plywood Market Opportunity:

The plastics market is currently experiencing the impact of rising feedstock prices, leading to increased costs for intermediate and finished goods. To address this, the plastic value chain is shifting towards a more circular approach, where recycled plastics offer competitive pricing. Policies such as plastics fees and recycled content targets can create financial incentives to limit plastic usage and promote circularity. Many countries have recently strengthened regulations to stimulate both the supply and demand for recycled plastics, supporting secondary markets. Encouraging signs of progress include the decoupling of prices for primary and secondary polyethylene terephthalate (PET) in Europe and advancements in recycling technology. Incorporating recycled plastic into production reduces the cost of finished goods, making them more affordable and preferable to consumers.

Plywood Market Challenges:

The construction and infrastructure development industries have faced significant uncertainty due to the COVID-19 pandemic. To navigate this challenging situation, businesses can establish public-private partnerships, which can help them secure new contracts and generate a substantial demand for various materials, including plywood. Public-private partnerships are widely utilized in many countries and are gaining popularity in the United States, particularly in large-scale projects. By fostering collaboration between government and private sector partners, significant cost savings can be achieved, as exemplified by practices in developing countries like India. India has experienced a significant increase in the adoption of public-private partnerships over the past decade and has become a major market for such ventures globally. This trend has a positive impact on plywood demand, as it finds application in numerous end-use industries, including packaging, building and construction, and housing, among others.

Global Plywood Market Outlook 2023:

The rehabilitation segment is projected to have the highest growth rate during the forecast period, driven by the creation of new uses for existing structures and the emphasis on sustainability. Knowledge dissemination on rehabilitation procedures can support global market strategies.

The hardwood segment is expected to be the fastest-growing type in the plywood market. Hardwoods, such as oak, walnut, and maple, are angiosperm trees with complex structures, slower growth, and durable lumber. They are commonly used in flooring, cladding, furniture, and high-traffic applications.

The plywood market in the Asia Pacific region is anticipated to have the highest growth rate. Factors such as economic growth, manufacturing industries, cheap labor, and increased demand for high-quality products drive the plywood market in this region. The growing middle-class population and industrialization further contribute to its expansion.

North America also demonstrates significant growth in the plywood market, driven by technological advancements and high-quality products. Plywood is a trusted building material known for its dimensional stability, strength, and versatility. Despite manufacturing plant shifts to Asia Pacific, North America remains one of the largest consumers of plywood.


  • Unit SalesAverage Selling PricesMarket Size & Growth Trends
  • COVID-19 Impact and Global Recession Analysis
  • Analysis of US inflation reduction act 2022
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies – Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Market Drivers & Limiters
  • Market Forecasts Until 2028, and Historical Data to 2015
  • Recent Mergers & Acquisitions
  • Company Profiles and Product Portfolios
  • Leading Competitors

The Report Includes:

  • The report provides a deep dive into details of the industry including definitions, classifications, and industry chain structure.
  • Analysis of key supply-side and demand trends.
  • Detailed segmentation of international and local products.
  • Historic volume and value sizes, company, and brand market shares.
  • Five-year forecasts of market trends and market growth.
  • Robust and transparent research methodology conducted in-country.
  • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors.
  • Provision of market value (USD Billion) data for each segment and sub-segment.
  • Analysis by geography, region, Country, and its states.
  • A brief overview of the commercial potential of products, technologies, and applications.
  • Company profiles of leading market participants dealing in products category.
  • Description of properties and manufacturing processes.
  • Marketed segments on the basis of type, application, end users, region, and others.
  • Discussion of the current state, setbacks, innovations, and future needs of the market.
  • Examination of the market by application and by product sizes; utility-scale, medium scale and small-scale.
  • Country-specific data and analysis for the United States, Russia, China, Germany, United Kingdom, France, Japan, Israel, Saudi Arabia, South Korea, United Arab Emirates, Canada, Switzerland, Australia, India, Italy, Turkey, Qatar, Sweden, Spain, Belgium, Netherlands, Norway, Singapore, Egypt, Denmark, Austria, Vietnam, Brazil, Argentina, Mexico, South Africa, and others.
  • Coverage of historical overview, key industrial development and regulatory framework.
  • Analysis of competitive developments, such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the market.
  • A look at the opportunities in the market for stakeholders and provide a competitive landscape of the market leaders.

Reports Scope and Segments:

Report Attribute Details
Market size value in 2022 USD 147.2 Billion
Revenue forecast in 2030 USD 225 Billion
Growth Rate CAGR of 5.4% from 2023 to 2030
Base year for estimation 2022
Historical data 2015 – 2021
Forecast period 2023 – 2030
Quantitative units Revenue in USD million and CAGR from 2022 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, trends, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

COVID-19 Impact, Market Growth Trends, Market Limiters, Competitive Analysis & SWOT for Top Competitors, Mergers & Acquisitions, Company Profiles, Product Portfolios

Market Size, Market Shares, Market Forecasts, Market Growth Rates, Units Sold, and Average Selling Prices.

Segments covered Type, Application, End Use & Region
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East and Africa and rest of the world
Country scope United States, Russia, China, Germany, United Kingdom, France, Japan, Israel, Saudi Arabia, South Korea, United Arab Emirates, Canada, Switzerland, Australia, India, Italy, Turkey, Qatar, Sweden, Spain, Belgium, Netherlands, Norway, Singapore, Egypt, Denmark, Austria, Vietnam, Brazil, Argentina, Mexico, South Africa, and others.
Key companies profiled Ainsworth Lumber Co. Ltd.; Arauco; ASB International Pvt. Ltd.; Austin Plywood; Austral Plywoods Pty Ltd; Boise Wood Products LLC; Canfor Corporation; Century Plyboard (India) Ltd.; Columbia Forest Products; Duratex S.A.; Eksons Corporation; Fletcher Building Limited; Formaplex Ltd.; Georgia-Pacific LLC; Greenply Industries Limited; Guangzhou Huajing Machine Manufacture Co., Ltd.; Jaya Tiasa Holdings; Joubert Group; Kajaria Plywood Pvt. Ltd.; Kitply Industries Limited; Koppers Inc.; Kronospan Limited; Linyi Junli Wood Products Co. Ltd.; Linyi Sanfortune Wood Co. Ltd.; Louisiana-Pacific Corporation; Methven Limited; Metsä Wood; Murphy Company; Norbord Inc.; Pfleiderer Group S.A.; Potlatchdeltic Corporation; Roseburg Forest Products; Samling Group; Sarda Plywood Industries Limited; SDS Lumber Company; Seihoku Corporation; Shandong Dongfang Shutter Plywood Co. Ltd.; Shutterfly, Inc.; Sierra Pine Ltd.; Simpson Lumber Company LLC; Sino-Forest Corporation; Sonae Indústria SGPS, S.A.; Stora Enso Oyj ; Subur Tiasa Holdings; Svenska Cellulosa AB (SCA); Sveza Forest Ltd; Swanson Group; Ta Ann Holdings; Tableros de Fibras S.A. (Tafisa); Tembec Inc.; Tianjin Plywood Industry Co. Ltd.; Tolko Industries Ltd.; Uniply Industries Ltd.; Upm-Kymmene Oyj; Vicwood Industry Sdn Bhd; West Fraser Timber Co. Ltd.; Weyerhaeuser Company Ltd; WTK Holdings and others
Customization scope Free report customization (equivalent up to 20 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.
Report Format PDF, PPT, Excel & Online User Account

 Gloabl Plywood Market Segemnted By-

By Type:

  • Hardwood
  • Construction
  • Industrial
  • Softwood
  • Construction
  • Industrial


By Application:

  • Construction
  • Roofing
  • Sub-flooring
  • Furniture
  • Packaging
  • Automotive Interior
  • Marine
  • Wall Sheathing
  • Sliding
  • Finish Flooring
  • Material Handling Products
  • Transport Equipment
  • Other Industrial Applications


By End Use Type:

  • New Construction
  • Rehabilitation


By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)
  • Rest of the World


Top Plywood Market Companies Covered in Report:

Ainsworth Lumber Co. Ltd. Pfleiderer Group S.A.
Arauco Potlatchdeltic Corporation
ASB International Pvt. Ltd. Roseburg Forest Products
Austin Plywood Samling Group
Austral Plywoods Pty Ltd Sarda Plywood Industries Limited
Boise Wood Products LLC SDS Lumber Company
Canfor Corporation Seihoku Corporation
Century Plyboard (India) Ltd. Shandong Dongfang Shutter Plywood Co. Ltd.
Columbia Forest Products Shutterfly, Inc.
Duratex S.A. Sierra Pine Ltd.
Eksons Corporation Simpson Lumber Company LLC
Fletcher Building Limited Sino-Forest Corporation
Formaplex Ltd. Sonae Indústria SGPS, S.A.
Georgia-Pacific LLC Stora Enso Oyj
Greenply Industries Limited Subur Tiasa Holdings
Guangzhou Huajing Machine Manufacture Co., Ltd. Svenska Cellulosa AB (SCA)
Jaya Tiasa Holdings Sveza Forest Ltd
Joubert Group Swanson Group
Kajaria Plywood Pvt. Ltd. Ta Ann Holdings
Kitply Industries Limited Tableros de Fibras S.A. (Tafisa)
Koppers Inc. Tembec Inc.
Kronospan Limited Tianjin Plywood Industry Co. Ltd.
Linyi Junli Wood Products Co. Ltd. Tolko Industries Ltd.
Linyi Sanfortune Wood Co. Ltd. Uniply Industries Ltd.
Louisiana-Pacific Corporation Upm-Kymmene Oyj
Methven Limited Vicwood Industry Sdn Bhd
Metsä Wood West Fraser Timber Co. Ltd.
Murphy Company Weyerhaeuser Company Ltd
Norbord Inc. WTK Holdings

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Key questions that are answered in this report

  • What is the estimated industry size of the plywood market?
  • What is the leading application segment in the plywood market?
  • Who are the key players in the global market of plywood?
  • Which is the largest regional market for plywood?
  • Does this report cover the new applications of the plywood market?
  • Does this report cover different types of plywood?
  • Does the report cover the volume tables in addition to value tables?
  • What is the current competitive landscape in the plywood market in terms of new applications, production, and sales?
  • Executive Summary
  • Research Methodology
    • Primary Research
    • Secondary Research
    • Market Analytics
    • Revenue Forecasting
  • Market Overview
    • Market Definition
    • Scope of the Study
      • Research Objectives
      • Assumptions & Limitations
      • Market Structure
    • Market Dynamics
      • Introduction
      • Microeconomic Factor Analysis
      • Market Evolution
      • Technology Roadmap
      • Demand-Supply Dynamics
      • Growth Drivers
      • Restraints
      • Opportunities
      • Challenges
      • Sustainable Strategies
    • Market Trend Analysis (Product Analysis, Technology Analysis, Application Analysis)
    • Industry Analysis
      • Profitability analysis
      • Supply Chain & Value Chain Analysis
      • Porter’s Five Forces Analysis
        • Bargaining power of Suppliers
        • Bargaining Power of Buyers
        • Threat of substitutes
        • Threat of new entrants
        • Degree of Competition
      • PEST Analysis
      • Upstream and downstream profitability analysis and opportunities

Global Market Scope

  1. Market analysis by product category
  2. Market analysis by component / type
  3. Market analysis by technology
  4. Market analysis by application
  5. Market analysis by industry vertical
  6. Market analysis by end-use
  7. Market analysis by emerging technologies, trends and applications
  8. Market analysis by region
    • North America
      • US
      • Canada
      • Mexico
      • Others
    • South America
      • Brazil
      • Argentina
      • Chile
      • Colombia
      • Peru
      • Venezuela
      • Ecuador
      • Others
    • Europe
      • Germany
      • France
      • UK
      • Russia
      • Italy
      • Spain
      • Sweden
      • Netherlands
      • Poland
      • Austria
      • Belgium
      • Finland
      • Norway
      • Switzerland
      • Denmark
      • Czech Republic
      • Portugal
      • Others
    • Asia-Pacific
      • China
      • Japan
      • South Korea
      • Taiwan
      • India
      • Australia
      • Indonesia
      • Philippines
      • Malaysia
      • Others
    • Middle East
      • Iran
      • Turkey
      • Kuwait
      • UAE
      • Israel
      • Oman
      • Bahrain
      • Saudi Arabia
      • Qatar
      • Egypt
      • Others
    • Africa
      • Algeria
      • Libya
      • South Africa
      • Sudan
      • Zimbabwe
      • Others
  1. Competitive Landscape
    • Introduction
    • Market share analysis by key market players (North America, South America, Europe, APAC, Africa)
    • Market Strategy
    • Mergers and Acquisitions
    • New Product Launches
    • Asset Transactions
    • Financial Announcements
  2. Company Profile (key market players)
    • Company profile 1
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 2
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 3
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 4
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 5
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 6
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 7
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 8
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 9
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 10
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
  1. Other Companies



Research Methodology is the process used to collect information and data for the purpose of making business decisions. The success of a research project is entirely dependent on the research methodology adopted by the company. Research Methodology and Scope We have implemented a mix of primary and secondary research for our market estimate and forecast. Secondary research formed the initial phase of our study, where we conducted extensive data mining, referring to verified data sources such as independent studies, company annual reports, white papers, case studies, government and regulatory published articles, technical journals, magazines, and paid data sources. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for respective regions. The primary sources from the supply side included industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related executives from key companies and organizations operating in the respective regions. The primary data has been collected through questionnaires, e-mails, and telephonic interviews, end-user surveys, consumer surveys, technology distributors and wholesaler’s surveys.

  • Quantitative methods (e.g. surveys) are best for measuring, ranking, categorizing, identifying patterns and making generalizations
  • Qualitative methods (e.g. interviews) are best for describing, interpreting, contextualizing, and gaining in-depth insight into specific concepts or phenomena
  • Mixed methods allow for a combination of numerical measurement and in-depth exploration.

Market drivers and restraints, along with their current and expected impacts, technological scenario and expected developments, end-use industry trends and dynamics  and consumer behavior trends  these forecasting parameters were considered.

Ethical approach, attention to detail, consistency, latest trend in the market and highly authentic source these are benefits of company’s research methodology.

Global Industry Reports

Market size estimation methodology top-down and bottom-up approaches

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the virtual reality market. These methods have also been extensively used to estimate the sizes of various market subsegments. Estimating the size of the market in each region by adding the sizes of country-wise markets and tracking the ongoing and upcoming implementation of virtual reality projects by various companies in each region and forecasting the size of the virtual reality market based on these developments and other critical parameters, including COVID-19 related impacts

Data Triangulation

After arriving at the overall market size—using the market size estimation processes explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. It provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, company profiles, key player strategies competitive developments and key developments) influencing the virtual reality market growth.

Statistical Model

Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development and pricing trends is fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression and time series analysis.