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Report Overview
The global plywood market size attained a value of approximately USD 49.78 Billion in 2024. The market is further expected to grow at a CAGR of 5.00% in the forecast period of 2025-2034, reaching a value of around USD 81.09 Billion by 2034. Influencing urbanization and investment in infrastructure development are attributable as the growth drivers in the plywood industry. With the expected urbanization of cities and infrastructure development, the market is bound to grow due to rising demands for construction use and application in interior designing of modern homes and offices. Production capabilities and increasing adoption of sustainable materials and technological innovations in plywood manufacturing are among the major market drivers.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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The Australian residential building sector experienced a 19.4% growth in January 2024, reaching USD 7.14 billion, providing positive momentum for the global plywood market. This growth, according to the Australian Bureau of Statistics, highlights the rising demand for construction materials like plywood in residential projects.
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Saudi Arabia's construction industry, which houses 138,114 companies, as per the Ministry of Municipal and Rural Affairs, is an emerging market for plywood. As the sector expands, it drives demand for high-quality plywood, contributing to growth in global plywood consumption for commercial and residential buildings.
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The U.S. construction sector, employing 8 million people and generating USD 2.1 trillion annually, according to the Construction Association, is a significant player in the global plywood market. The substantial investment in infrastructure and housing directly influences the demand for plywood, particularly for framing, flooring, and finishes.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global plywood market size attained a value of approximately USD 49.78 Billion in 2024.
The market is expected to grow at a CAGR of 5.00% during the forecast period.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach around USD 81.09 Billion by 2034.
The major drivers of the market include the rising disposable incomes, increasing population, and the growing furniture industry.
The eco-friendly strategies of the manufacturers and increasing construction activities are expected to be key trends guiding the growth of the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The new construction and replacement are the sectors in the market.
Based on end use, the market is divided into residential and commercial.
The leading players in the global plywood market are Georgia-Pacific LLC, PotlatchDeltic Corporation, Weyerhaeuser Company, Boise Cascade, UPM-Kymmene Corporation, Sveza, Austal plywoods private limited, Eksons corporation berhad, Latvijas fineries AS, Metas wood, and Potlatch Deltic corporation, among others.
Asia Pacific held the dominant share of the market.
The MR grade dominated the market.
According to the report, softwood type acquired the largest market share.
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