The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, May 17, 2023 /PRNewswire/ — As per The Business Research Company’s Plywood Global Market Report 2023, the global plywood market size is expected to grow from $54.7 billion in 2022 to $59.6 billion in 2023 at a compound annual growth rate (CAGR) of more than 8%. The plywood market size is then expected to grow to $85.2 billion in 2027 at a compound annual growth rate (CAGR) of more than 9%. Going forward, the government support, the rising renovation activities, the rising urbanization and an increasing demand for wooden furniture will drive the plywood wholesale market.
The global plywood market is highly fragmented, with a large number of small players operating in the market. UPM-Kymmene Oyj, Inc. was the largest competitor with a 0.47% share of the market, followed by Boise Cascade Company, Metsä Group, West Fraser Timber Co. Ltd., Weyerhaeuser Company, Potlatch Deltic Corporation, Georgia-Pacific LLC., Greenply Industries Limited, Sveza-Les LLC., and Austal Plywoods Private Limited.
Learn More On The Plywood Industry Report – https://www.thebusinessresearchcompany.com/report/plywood-global-market-report
According to TBRC’s plywood market research, manufacturers operating in the plywood global market are focusing on developing zero-emission plywood to minimize the environmental impact and increase their market share. Zero-emission plywood refers to a type of plywood that comes with an anti-bacterial coating to ensure the health and safety of every home. For instance, in January 2020, Greenply Industries Limited, an India-based interior infrastructure company, launched its first-of-a-kind zero-emission plywood, named Green Club Plus Seven Hundred, in India. The emission-free plywood used for making furniture, partitions, paneling, false ceilings and other interior applications conforms to E0 grade emission standards, one of