Plywood is manufactured from thin sheets or layers of wood veneer and bonded together with adhesives. Plywood is frequently used as a substitute for plain wood due to its excellent properties such as resistance to shrinking, twisting, and splitting.
Softwood plywood is produced by gluing several layers of dry softwood veneers together with an adhesive. Softwood plywood is used for wall siding, roof decking, concrete formboards, sheathing, floors, and containers. Hardwood plywood is used for interior applications such as furniture, architectural millwork, paneling, cabinets, flooring, store fixtures, and doors.
- A major driver for growth of the global plywood market is growing construction industry. For instance, in 2015, global construction perspectives and oxford economics together stated that the global construction market is set to grow by US$ 8 trillion by 2030, reaching a total size of US$ 17.5 trillion and growing by an average annual rate of 3.9% by 2030
- However, higher cost of plywood as compared to Oriented Starboard (OSB) may hamper growth of the global plywood market, as OSB offers similar characteristics as plywood.
- According to the Coherent Market Insights’ analysis, Asia Pacific is expected to be the fastest growing plywood market during the forecast period, owing to growing housing and infrastructure sectors in the region. For instance, in India, Pradhan Mantri Awas Yojana (PMAY) or The ‘Housing for all by 2022’ launched in 2015, aims to provide affordable housing to all citizens by 2022, and as per government speculation this could entail construction of 20 million houses by 2022.
- China is the world’s largest producer of plywood, owing to the economical manual labor, simple tehchology, and local machine suppliers.
Key players in Global Plywood Market
- Key players operating in the global plywood market include Atlantic Plywood Corporation, Greenply Industries Ltd., Weyerhaeuser Company, Ainsworth Lumber Co. Ltd., Roseburg Forest Products Co., and Century Ply board (India) Ltd.
On the basis of product type, the global plywood market is segmented into:
- Hardwood Plywood
- Softwood Plywood
- Decorative Plywood
- Tropical Plywood
On the basis of application, the global plywood market is segmented into:
On the basis of region, the global plywood market is segmented into:
- North America
- South America
- Rest of South America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- In October 2019, UMP Plywood introduced new thickness options for its fire retardant plywood brand WISA-Spruce. The thickness of the new plywood ranges from 12-30 mm in two options, mainly tongue and groove and straight-edged. This new plywood product is most suitable for frame application.
- In August 2019, India based Plywood maker, Greenply has decided to embrace ‘assetlight’ business strategy model by entering into multiple joint-ventures with regional plywood manufacturers for better supply of finished plywood. By getting involved in the management of the mid-sized plywood manufacturers, the company will ensure smooth supply of finished plywood to the regional market.
- In June 2019, major plywood manufacturer in North India, Savitri Woods announced its plans to develop its operations in Southern India. The company has planned to start its operations in Kerala and estimates a monthly turnover of Rs.3.25 Crore in the first year. This will help the company to establish itself in the South Indian plywood market.