Global Plywood Market – Growth Opportunities & Investment Analysis by 2025
Plywood Market: Overview
The plywood comes in the category of the wood products which are engineered and are of high quality. The plywood is a panel that is manufactured from the thin sheets of the wood veneer which are stacked up. The plywood provides beneficial properties such as splitting, twisting, shrinkage, and cracking thus finding a wide range of applications in the end-user industries. When compared with the plain wood it provides good strength, workability, flexibility, and reusability.
Plywood Market: Facts
The latest implementation of the GST has affected the plywood market. In the state of Haryana, there are two issues regarding GST that are still pending in the council of the GST. Among them, one is that the tax rate on the plywood should be cut down to 18%from 28%.
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Plywood Market: Segmentation
The plywood market is fragmented into its product type and application. Based on the type of the product, the plywood market is segregated into waterproof ply, semi-waterproof ply, and commercial ply. Based on the application, the market is categorized into hardwood plywood, decorative plywood, softwood plywood, and tropical plywood.
Plywood Market: Growth Factors
Recently, the commercial vehicle manufacturers are having an increased demand for the chequered plywood for the purpose of automotive flooring. This factor has triggered the demand for the plywood market. In the marine sector, the plywoods are used in the construction of the decks. The other end-user industry that has a major consumption of the plywood is the structural panel industry. The other factors that are propelling the growth of the plywood market are the increasing disposable incomes of the people, changing inclination of the consumers, and the expanding construction sector. The challenges that are faced in the plywood market are the increased cost of the plywood when compared with the other substitutes that offer similar characteristics and the changing preference of the packaging manufacturers towards materials such as plastics, metals, and cardboard.
Plywood Market: Regional Analysis
The plywood market is dominated by the North America owing to the increased consumption of the plywood in the construction industry. The region that is following the North America is Europe owing to the increasing demand from the countries such as Germany and the U.K. In the developing countries such as China, India, and Japan the plywood market is having an increasing demand owing to the expanding construction industry. The regions such as Brazil, India, and the other South East Asian countries have potential to develop in the plywood market owing to the availability of the rich forest resources and the wood plantations.
Plywood Market: Competitive Players
The key market players that are involved in the plywood market include Boise Cascade LLC, Eksons Corp. Bhd., Greenply Industries Ltd., Uniply Industries Ltd., Jaya Tiasa Holdings Bhd., Ainsworth Lumber Co. Ltd., Atlantic Plywood Corporation, Century Plyboard (India) Ltd., Georgia-Pacific Corporation, Weyerhaeuser Company, and Roseburg Forest Products Co.
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Plywood Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa