Global Plywood Market Size was $71.52 Billion in 2023

Global Plywood Market Overview

Rising Residential Projects Drives Market Growth.

The increase in the number of residential and commercial projects is one of the major drivers of growth in plywood sales. Plywood structures can resist the impact of natural disasters and external forces, ensuring the safety and stability of the building. Second, plywood also has the advantages of environmental protection and sustainable development. Compared with solid wood materials, plywood can use wood resources more efficiently and reduce the pressure of deforestation. In the production of plywood, the adhesives used are constantly being improved and developed to minimize the impact on the environment. This makes plywood an important choice for sustainable development in the construction and furniture industries, driving the advancement of green construction and environmentally friendly design.Additionally, plywood offers advantages in terms of cost-effectiveness. Compared with solid wood materials, plywood is more affordable, and its strong and durable characteristics ensure the long life and performance stability of furniture, thus providing consumers with higher value for money.

In the context of global environmental protection and sustainable development, more and more consumers and designers are paying attention to environmentally friendly materials. The plywood is relatively environmentally friendly and can effectively reduce the consumption of natural resources. As a multifunctional building material, plywood plays an indispensable role in modern construction and furniture manufacturing. Therefore, the increasing adoption of plywood in the residential and commercial sectors positively affects the market as living standards improve and personal income levels rise.

China Plywood Market Status in 2023

Now the overall supply capacity of China's plywood industry is greater than consumer demand. The supply and demand relationship of plywood production capacity for furniture production and decoration is relatively balanced, the oversupply of plywood production capacity for concrete formwork is particularly prominent, and the packaging plywood market is affected by directional particle board, and the production capacity is reduced.

By the end of 2023, the country has more than 7,400 plywood products manufacturing enterprises, with a total production capacity of about 205 million cubic meters/year, which is further reduced by 1.4% based on the end of 2022; The average production capacity of each enterprise is about 27,700 cubic meters/year. China's plywood industry has shown a significant reduction in the number of enterprises, a slight decline in total production capacity, and a sustained increase in the average production capacity of enterprises.

For more industry information, please refer to our latest released"2023 Global Plywood Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".