Plywood Market to record USD 11.27 Bn incremental growth; AS Latvijas Finieris, Boise Cascade Co., and Georgia-Pacific LLC emerge as key vendors -- Technavio

NEW YORK, Oct. 3, 2022 /PRNewswire/ -- The plywood market is segmented into two categories based on the wood type (hardwood and softwood) and geography (APAC, North America, Europe, MEA, and South America). The market size is expected to increase by USD 11.27 billion between 2020 and 2025. However, the market's growth momentum will decelerate at a CAGR of 4.15% during the forecast period.

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Parent Market Analysis

Technavio categorizes the global Plywood Market as a part of the global building products market covering companies engaged in the production of building components such as windows and doors, flooring; ceiling and wall fixtures, roofing and gutter materials, insulation materials, cabinets, plumbing fixtures, and home improvement products and equipment. The parent market is driven by factors such as the growth of the construction sector and increasing consumer preference toward the premium and entry-to-luxury segments in the residential sector.

Vendor Insights 

The plywood market is fragmented with the presence of several players occupying the competitive landscape. The market is not dominated by global players. Large vendors are acquiring small vendors to expand their product portfolios and boost their market shares. Other vendors hold a significant share in the market. The increasing demand for innovation and better services is creating entry barriers for new players.

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Product Insights and News

• AS Latvijas Finieris: The company offers plywood that is made of Riga wood which has a rough wire mesh pattern and can be used for many different floor paneling purposes, interior cladding, windows, doors, and exterior construction, under the brand name of Latvijas Finieris.
• Boise Cascade Co.: The company offers a wide range of plywood that includes softwood construction plywood, concrete forming plywood, sanded plywood, and hardwood plywood which are used for domestic and industrial purposes, under the brand name of Boise Cascade.
• Georgia-Pacific LLC: The company offers plywood that is produced from sustainably managed forests and can be used in a wide array of applications that includes roof sheathing, wall sheathing, flooring, and many more areas, under the brand name of Georgia Pacific.
• Greenply Industries Ltd.: The company offers plywood that is used for a wide range of applications, spanning from wardrobes and tables to shelves and cabins with a standard thickness of 40mm that ensures safe indoor air quality, under the brand names of Optima G, Ecotec, Green, Jansathi and many more.
• Hefei Sinoply Wood Co. Ltd.: The company offers a wide range of plywood that includes film-faced plywood, commercial plywood, and fancy plywood which are used as face and back for many applications like cabinet, furniture, interior decoration, and high-grade packing, under the brand name of Sinoply.

Key Market Dynamics-

The increase in residential and commercial construction activities is one of the main drivers propelling expansion in the plywood market. The rising focus on infrastructural and real estate development in both developed and developing countries has resulted in an increase in the construction of new residences and office spaces. In addition, the rise in the number of multinational and global companies, as well as technology and business parks in developing countries has increased the demand for furniture. As a result of these factors, the global demand for plywood is expected to increase substantially in the coming years, thereby driving the growth of the market in focus.

Another element contributing to the growth of the plywood market share is the increasing consumption of softwood in furniture manufacturing. However, moisture and humidity concerns associated with plywood might reduce the growth potential in the market.

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Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Wood type

• Market segments
• Comparison by Wood type
• Hardwood - Market size and forecast 2020-2025
• Softwood - Market size and forecast 2020-2025
• Market opportunity by Wood type

Customer landscape

• Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2020-2025
• North America - Market size and forecast 2020-2025
• Europe - Market size and forecast 2020-2025
• MEA - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• AS Latvijas Finieris
• Boise Cascade Co.
• Georgia-Pacific LLC
• Greenply Industries Ltd.
• Hefei Sinoply Wood Co. Ltd.
• METSA GROUP
• PotlatchDeltic Corp.
• SVEZA
• Uniply Industries Ltd.
• UPM-Kymmene Corp.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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SOURCE Technavio