This is according to research titled “Plywood: A Global Strategic Business Report," by Global Industry Analysts Inc. (GIA).
GIA said the expected growth in world economy and increased use of plywood across various end-use sectors, including the housing market, are likely to fuel the expansion of the market. This scenario would reverse the current trend which has seen worldwide plywood market decline during 2008 and 2009 because of the U.S. housing slump and mortgage crisis.
According to the report, China represents the largest regional market for plywood worldwide. During the past few years, China emerged rapidly from being a net consumer to a major exporter, on account of growing exports to major markets such as Europe and the United States. The U.S. represents the second largest market for plywood in the world. GEI said the U.S. plywood market is poised to reach 16.1 million cubic meters by 2012.
The North American plywood sector, following a significant fall during 2008 and 2009, is projected to witness a slow increase in demand as well as prices by 2011. The market growth primarily relies on the recovering housing sector, which is poised to readily absorb the curtailed as well as new capacity.
For more details about the report, visit strategyr.com/Plywood_Market_Report.asp
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