Monday, January 24, 2022

Plywood market to reach US$115 billion valuation by 2028 – Comprehensive Research Report by FMI

Plywood Market – Analysis, Outlook, Growth, Trends, Forecast

DUBAI, United Arab Emirates, January 13, 2022 (Globe Newswire) — GLOBAL plywood market The size is projected to be US$80.5 billion in 2022, and register a CAGR of 6.1% to reach a valuation of US$115 billion by 2028.

Plywood Market Size (2022)

US$ 80.5 billion

Sales Forecast for Plywood (2028)

US$ 115 billion

Global Market Growth Rate (2022 to 2022)

6.1% CAGR

Market Share of Top 5 Plywood Providers

55%

Eco-friendly nature of wood to accelerate plywood sales

Global infrastructure development has reached new heights in the past few years, with large-scale construction – both residential and commercial – in Tier 1 and Tier 2 cities across the world. This has led to impressive growth of the global building and construction industry and has resulted in a positive impact on the revenues of the ancillary industries. Plywood is an inherent component of the construction industry – being widely used in the manufacture of readymade and customized furniture.

“The growth in the global consumption of plywood is projected to increase at a decadal rate of 4.6% to 164,402 cubic meters by the end of 2022. This growth is due to continued demand from end-use industries, especially the furniture manufacturing industry.” — Future Market Insights

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Future Market Insights (FMI) highlights some of the key factors driving revenue in the global market for plywood. Plywood is increasingly used in a wide variety of applications ranging from furniture, flooring and high value goods packaging. As per the forecasts by Future Market Insights, the global market is anticipated to boost the sales of plywood. The growth in residential and commercial spaces across the globe has further fueled the demand for readymade and aesthetically designed furniture incorporating the widespread use of plywood. With people opting for designer furniture, the demand for plywood from the furniture industry is already at a peak and is expected to increase revenues in the global plywood market.

In addition, there are increasing global events promoting the use of wood and wood-based products in the construction of both residential and commercial buildings. This trend is being supported by laws in force at the administrative level. For example, Japan’s “Act for the Promotion of the Use of Wood Products in Public Buildings, 2010” seeks to encourage the use of plywood in the construction sector. Global construction projects focusing on timber skyscrapers such as the Oakwood Timber Tower are also expected to have a positive impact on plywood demand in the coming years.

Wood and wood based products such as plywood are eco-friendly in nature, encouraging plantation to meet the growing demand. Plywood and other supporting wood products contribute to environmental protection. This is another factor working in favor of the plywood market.

This study by FMI on the plywood market identifies the growing importance of plywood as a key demand driver in the global packaging industry. “Plywood has enhanced mechanical strength apart from being lightweight in nature. Plywood is also recyclable and helps save on cost. This makes plywood the best packaging option for a wide variety of products. With the current ban on plastics for product packaging, plywood is increasingly being adopted as a highly effective raw material to package a wide variety of goods. This is expected to boost the revenues in the global plywood market.

There are lucrative opportunities in the African Timberlands for both existing players and new market entrants

The presence of vast expanses of land in Africa, as well as the overall low cost of maintenance and production in the region, make Africa a very attractive option for the development of forestry and the manufacture of wood products, especially plywood. Manufacturers in the global plywood market are seeing attractive growth prospects in the African continent, given the region’s vast natural timbers and mature plantations. Plywood harvesting in African forests is both cost-effective and environmentally friendly. It is promoting the establishment of backward integrated units manufacturing plywood, hence creating highly lucrative opportunities for the players in the global plywood market.

The massive growth of the global construction industry has resulted in an increase in large infrastructure investments by both the private sector and public sector enterprises. This is likely to widen the horizon for the regional manufacturers of plywood with endless potential for revenue growth.

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Adoption of Plywood in Digital Printing Global Market Trend

Plywood is increasingly finding application as a substrate in high-end inkjet printing projects. Plywood is used as an alternative to aluminum and plastic sheets due to its non-reflective nature. Digitally printed plywood serves as an excellent choice for many outdoor applications such as fences and road signs, as it is highly durable. This is the latest trend in the global plywood landscape, which is driving the revenues in the global market.

About FMI’s Chemicals and Materials Division

The Chemicals and Materials Division at FMI provides specific and accurate analysis of the chemical and materials industry. The coverage of the chemicals and materials market spans from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology. The team also places special emphasis on ‘green alternatives’, recycling and renewable technology development, and supply-demand business evaluation. Our research studies are widely referred to by chemical manufacturers, research institutes, channel partners and government bodies to be developed – ‘The Way Forward’.

Scope of Plywood Industry Report

Property

Description

forecast period

2022-2028

Historical data available for

2013-2021

market analysis

US$ Mn. price in

Major Areas Covered

Major Countries Covered

Major market segments include

Major Companies Profiles

We provide tailor-made solutions to meet your needs, Request [email protected] https://www.futuremarketinsights.com/customization-available/rep-gb-3463

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, US and India. FMI’s latest market research reports and industry analysis help businesses tackle challenges and make important decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports provide actionable insights driving sustainable growth. A team of expert-led analysts at FMI continually tracks emerging trends and developments across a wide range of industries to ensure that our clients are prepared for the evolving needs of their consumers.

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Report: https://www.futuremarketinsights.com/reports/plywood-market

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