Plywood Market Report 2018 Shares Detailed Industry Analysis, Competition by Company, Market Size by Type, Status and Outlook by Regions, Application/End Users, and Market Forecast 2025

Radiant Insights, Inc.

SAN FRANCISCO, August 7, 2018 /PRNewswire/ --

The global Plywood Market is subject to witness a substantial growth over the forecast period due to the growing demand from housing market and retail sector. Growing demand of plywood from housing market is credited to booming buildings & construction industry, thus driving market growth over the forecast period. Additionally, increasing benefits of plywood over traditional materials such as metal, wood, and plastic are expected to fuel the growth of plywood market in upcoming years. Growing popularity of plywood in marine applications to build decks, rooftops and doors are anticipated to boost market growth. Increasing adoption of plywood in manufacturing of structural panels is likely to drive market expansion. However, high costs of plywood in comparison with the OSB (Oriented Starboard) are substantially hampering market growth. Increasing demand of the chequered plywood form automotive industry for applications such as automotive flooring are anticipated to expand market reach of plywood industry during the forecast period. Application of plywood includes building & construction industry, automotive sector, housing market, marine industry, and interior design industry. These wide range applications of plywood and its byproducts are expected to amplify growth of plywood 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 plywood 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 plywood industry, in the recent years. Increasing infrastructural activities in developing economies across the globe are major drivers for sustained growth of the plywood 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. Governmental initiatives to promote infrastructural activities such as smart cities projects are expected to drive demand for plywood in upcoming years as well. However, recent advancement in the packaging industry coupled with growing preference towards plastics, metals and cardboards are expected to hamper growth of plywood industry. Additionally, growing competition in among plywood manufactures are negatively hampering market growth. Factors such as stringent the rules and regulations by local governments all across the globe against deforestation regulations is predicted to negatively influence marker progress.