Updated Jan 31, 2023 09:34

Global Plywood Market

Market Overview
In , the global plywood market increased by % to $, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $. From 2017 to , the growth of the global market remained at a lower figure.

In value terms, plywood production contracted slightly to $ in estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by % against the previous year. As a result, production attained the peak level of $. From 2017 to , global production growth remained at a lower figure.

China ( cubic meters) constituted the country with the largest volume of plywood production, accounting for % of total volume. Moreover, plywood production in China exceeded the figures recorded by the second-largest producer, India ( cubic meters), sevenfold. The United States ( cubic meters) ranked third in terms of total production with an % share.

In China, plywood production expanded at an average annual rate of +% over the period from 2007-. In the other countries, the average annual rates were as follows: India (+% per year) and the United States (-% per year).


Consumption
For the fifth year in a row, the global market recorded growth in consumption of plywood, which increased by % to cubic meters in . In general, the total consumption indicated a pronounced expansion from 2007 to : its volume increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2015 indices. Over the period under review, global consumption hit record highs in and is likely to see steady growth in the immediate term.

The global plywood market size expanded slightly to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $. From 2017 to , the growth of the global market remained at a somewhat lower figure.


Consumption by Country
The countries with the highest volumes of consumption in were China ( cubic meters), Saudi Arabia ( cubic meters) and the United States ( cubic meters), with a combined % share of global consumption.

From 2007 to , the biggest increases were recorded for Saudi Arabia (with a CAGR of +%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($) led the market, alone. The second position in the ranking was taken by the United States ($). It was followed by Saudi Arabia.

From 2007 to , the average annual rate of growth in terms of value in China totaled +%. The remaining consuming countries recorded the following average annual rates of market growth: the United States (-% per year) and Saudi Arabia (+% per year).

In , the highest levels of plywood per capita consumption was registered in Saudi Arabia ( cubic meters per persons), followed by the Netherlands ( cubic meters per persons), the United States ( cubic meters per persons) and Japan ( cubic meters per persons), while the world average per capita consumption of plywood was estimated at cubic meters per persons.

From 2007 to , the average annual rate of growth in terms of the plywood per capita consumption in Saudi Arabia stood at +%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the Netherlands (+% per year) and the United States (-% per year).


Market Forecast
Driven by increasing demand for plywood worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to cubic meters by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .