DUBAI, U.A.E, Sept. 7, 2020
DUBAI, U.A.E, Sept. 7, 2020 /PRNewswire/ -- According to a new market study by Future Market Insights (FMI), the global plywood market is forecasted to witness substantial growth in terms of value between 2018 and 2028.
Ever-growing adoption in the construction & flooring applications owing to its ability to offer mechanical strength while lowering the weight of the structure is expected to remain the primary growth attribute. Furthemore, owing to its resistance against water, weather fluctuations, and better insulation, plywood wood finds usage in applications that require resistance to harsh physical conditions.
Along similar lines, growing focus on infrastructural developments in office spaces is a crucial factor driving the demand for plywood. Likewise, rising spending on interior designing, home decor and aesthetic furnishing, in the residential sector is expected to proliferate adoption of plywood in the furniture industry. Attributed to the rising standards of living worldwide, the adoption of plywood in the residential sector will remain high.
Moreover, backed by its lightweight properties, plywood is finding significant usage in the production of ready-made and easy-to-install furniture, which will continue to drive the market growth in the years to come.
"Manufacturers are focusing on establishing a backward integrated supply chain and are procuring possessing licenses to maintain and cultivate forest lands to produce plywood and other wood-based panel products in bulk quantities" opines FMI analyst.
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Plywood Market - Key Takeaways
Plywood Market - Key Trends
Plywood Market - Regional Analysis
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Plywood Market - Competitive Landscape
Some of the major players operating in the market include Weyerhaeuser Company, Boise Cascade Company, Century Plyboards (India) Ltd, Greenply Industries Limited, Georgia-Pacific, LLC, Uniply Industries Ltd, Jaya Tiasa Holdings Berhad, UPM-Kymmene Oyj, Subur Tiasa Holdings Berhad and Sveza-Les LLC, among others. Market players are focusing on developing affordable products to cater to a wide consumer demographic.
Plywood Market - Taxonomy
Number of Ply:
Get Valuable Insights into the Plywood Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global plywood market, presenting historical demand data and forecast statistics for the period from 2018-2028. The study divulges compelling insights on the plywood market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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