The Global Veneer and Plywood Sheet Market is expected to display higher growth over the forecast period due to the growing demand from housing market and retail sector. Growing demand for veneer and plywood sheet from housing market is credited to booming buildings & construction industry, thus driving market growth over the forecast period.
Additionally, increasing benefits of veneer and plywood sheet over traditional materials such as metal, wood, and plastic are expected to fuel the growth of market in upcoming years. Globally, the market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the veneer and plywood sheet market.
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Growing popularity of plywood sheets in marine applications to build decks, rooftops and doors are anticipated to boost market growth. Increasing adoption of plywood sheets in manufacturing of structural panels is likely to drive market expansion. However, higher cost of plywood sheets in comparison with the OSB (Oriented Starboard) are substantially hampering market growth. Increasing demand for chequered plywood sheets from automotive industry for applications such as automotive flooring are anticipated to expand market reach of veneer and plywood sheet industry during the forecast period.
Application of veneer and plywood sheet include building & construction industry, automotive sector, housing market, marine industry, and interior design industry. The wide range applications of veneer and plywood sheet are expected to amplify growth of industry in upcoming years. Easy availability of plywood in regions where forest resources and wood plantations are in abundant amount, particularly in Asia-Pacific region, are offering lucrative growth opportunities for market players in the veneer and plywood sheet industry.
Moreover, substantial investment by market players in development of innovative products to gain a competitive edge coupled with mergers, acquisitions and partnerships for vertical integration are driving growth of the veneer and plywood sheet market, in the recent years.
Increasing infrastructural activities in developing economies across the globe are major drivers for sustained growth of the market, in the last few years. Furthermore, rise in the per capita income and surging economic condition in developing countries such as India, Brazil and China are predicted to fuel market growth in near future. Numerous governmental initiatives promoting infrastructural activities such as smart cities projects are expected to drive demand for veneer and plywood sheet in upcoming years as well.
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The market is broadly categorized into three major segments based on the products type such as coniferous (softwood) veneers and plywood sheets, light and dark red meranti and meranti bakau veneer, and veneers of other tropical woods. The coniferous (softwood) veneers and plywood sheets is considered as one of the fastest growing segment in the market with substantial revenue generation in the last few years. Growing popularity of the coniferous (softwood) veneers and plywood sheets segment is attributed to the easy availability and higher market penetration.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest techniques in construction & interior design sector, increase in the number of research & development activities in the region and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the veneer and plywood sheet market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with growing construction activities in the region, booming housing sector, ever-growing population, rising per capita income, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the veneer and plywood sheet market are Ainsworth Lumber Limited, Boise Cascade Limited, Atlantic Plywood Co., Eksons Co., Century Plyboard Limited, Greenply Industries Limited, Georgia-Pacific Co., Uniply Industries Ltd., and Weyerhaeuser Company.
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/wood-and-wood-products
The reports help answer the following questions:
• What is the current size of the veneer and plywood sheet market in the world and in the top 10 global countries?
• How is the veneer and plywood sheet market divided into different product segments?
• How are the overall market and different product segments growing?
• How is the market predicted to develop in the future?
• What is the market potential compared to other countries?
The latest industry data included in the reports:
• Overall veneer and plywood sheet market size, 2011-2022
• Veneer and plywood sheet market size by product segment, 2011-2022
• Growth rates of the overall veneer and plywood sheet market and different product segments, 2011-2022
• Shares of different product segments of the overall veneer and plywood sheet market, 2011, 2017 and 2022
The market data is given for the following product segments:
• Coniferous (softwood) veneers and plywood sheets
• Light and dark red meranti and meranti bakau veneers
• Veneers of other tropical woods
• Other veneers and plywood sheets
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