Plywood Market, By Product Type (Softwood Plywood, Hardwood Plywood, and Engineered Plywood), By Application (Construction, Furniture Manufacturing, Packaging, Automotive, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Aug 2024

Code : CMI2212

Pages :120

Formats :

Excel and PDF

Industry : Advanced Materials

Regional Analysis

Plywood Market Regional Insights

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For a long time, North America has dominated the world market for plywood. In 2024, the region is projected to hold a 40.5% share. The demand for plywood has remained strong in the area due to the high levels of building spending in the residential and non-residential sectors of the American economy. The United States has a significant portion of the North American plywood industry due to its sizable housing market and concentration of top building material producers. The market gains from the region's strong technological capabilities and skill in producing large quantities of high-quality goods. Additionally, having access to a plentiful supply of raw materials gives North American producers a significant competitive edge over players from other countries. However, given growing import plywood prices, the area confronts fierce competition from emerging markets.

The Asia Pacific region has emerged as the fastest growing market for plywood globally in recent times on the back of rapid urbanization and infrastructure development across developing nations. Countries like China and India serve as major growth engines for the region's construction industry with their huge population base and strong GDP growth rates. Rapid expansion of the real estate sector combined with government initiatives to boost housing and commercial building construction have considerably driven plywood consumption in Asia Pacific. In addition, many nations have established vibrant wood-based panel manufacturing capacities to not only meet rising domestic needs but also to leverage export opportunities. For instance, export-oriented industries in Malaysia and Indonesia have established Asia Pacific as the largest exporter of tropical hardwood plywood globally. Their strategic location also provides the region competitive advantage in international trade. The region’s rising demand, manufacturing strength and trade competitiveness point towards continued dominance in the coming years.