Global Plywood Market Size is Expected to Grow to 111.48 Billion by 2029

Global Plywood Market Overview

According to Global Market Monitor, the global plywood market size will reach 74.12 billion in 2024 and is expected to grow to 111.48 billion by 2029.

The Rising Number of Residential and Commercial Projects Drives Market Growth.

Currently, the increase in the number of residential and commercial projects is one of the major drivers of growth in plywood sales. Whether simple and modern, retro classic or customized, plywood has something to suit every style and need. In addition, 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 process of plywood, the adhesives used are constantly being improved and developed to reduce 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.

In the context of global environmental protection and sustainable development, more and more consumers and designers are beginning to pay attention to the use of environmentally friendly materials. The production process of plywood is relatively environmentally friendly and effectively reduces the consumption of natural resources. As a multi-functional building material, plywood plays an indispensable role in modern construction and furniture manufacturing. As a result, the increasing adoption of plywood in the residential and commercial sectors is having a positive impact on the market as living standards and personal income levels rise.

China Plywood Market Status and Trends

By the end of 2023, there were more than 7,400 plywood product manufacturing enterprises in China, with a total production capacity of about 205 million cubic meters/year. At the beginning of 2024, 1,477 plywood production enterprises were under construction nationwide, with a total production capacity of about 28.9 million 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. At this stage, the overall supply capacity of China's plywood industry is greater than consumer demand. It is expected that by the end of 2024, the total production capacity of plywood products in the country will be further contracted, close to 200 million cubic meters/year.

With the progress of science and technology, the future plywood industry will pay more attention to the performance of products. High-performance plywood, such as fireproof, waterproof, corrosion-resistant, and other special plywood, will be more widely used in specific fields. Driven by global environmental awareness, the plywood industry will pay more attention to green environmental protection and sustainable development, promote the research and development and application of environmentally friendly materials, and reduce environmental pollution in the production process.

Province	Number of Enterprises	Production Capacity (10,000 cubic meters/year)
Guangxi	1430	5880
Shandong	2180	5370
Jiangsu	1270	2940
Anhui	410	1250
Hebei	405	1190
Fujian	295	800
Henan	265	650

Table: Production Capacity of China Plywood Enterprises as of 2023