The global plywood market is expected to expand by the end of 2017, according to Research Nester. Plywood will see increased demand from the construction of houses and other activities. Moreover, the economical price of the plywood will further drive the market.
The North American region has been consistently dominating the market globally, in terms of the market demand for plywood. This has been primarily due to high plywood consumption by the construction sector. It will be followed by North America and Europe occupying the second position in the market. Asia Pacific is anticipated to showcase robust growth in the next few years. Moreover, plywood market in Asia Pacific will further increase due to the massive growth in construction sector.
Apart from this, the countries with rich forests and woods such as India, Brazil and South Asian countries have the potential to be the key suppliers of plywood in the near future. Further, the growing indigenous demand for plywood in India as a result of rising disposable income among the growing middle and affluent class and the growing infrastructure in recent times is expected to make India an important consumer of plywood in the near future.
The growing demand for the plywood is driven by rising construction activities (both for residential and commercial purposes) and growing preferences for well-designed floors, home ceilings and walls. Robust population growth coupled with rising disposable income as well as rising preferences for branded plywood has expanded the plywood market at a global level.
Besides this, rising application of plywood for automotive flooring is further likely to escalate the growth of the market all across the globe. Plywood is also increasing in the marine industry, which might lead to increases in the demand of plywood by structural design companies. However, the plywood industry is facing resistance from the plastic industry and increasing preference for the other materials such as metals. The companies across the globe are incorporating the green practices in their manufacturing process. However, the cost associated with the plywood is relatively high as compared to the oriented strand boards. Thus, this is anticipated to impact the growth of plywood market as the customers will start shifting from the plywood to OSB boards.
For more information see: http://www.researchnester.com/reports/plywood-market-global-demand-analysis-opportunity-outlook-2023/261