Published Date : Feb 29, 2016
The plywood market is mainly driven by the rising demand from the housing market for the ever efficient, workable, and durable plywood. The demand has been high for plywood due to its high requirement in the building and construction industry, as opposed to the conventional building materials such as metal, plastic, and plain wood. Plywood is resistant to cracks, splits, twists, and shrinks, making it the most sturdy and long lasting building material, thus propelling the plywood sales and market.
Asia Pacific to be the Fastest Growing Market for Plywood
North America has been leading the plywood market in terms of demand, followed by Europe. The demand in these regions is attributed to the substantial demand for plywood from the housing industry. Countries such as Japan, China, and India have a huge demand for plywood on account of increasing constructional activities, thus Asia Pacific is anticipated to become the fastest growing market for plywood.
Structural Panel Market to Appear as a Huge Opportunity for Plywood Market
While plywood has found its applications in building and constructing houses, as well as in the marine industry for building decks, they have also been substituted by OSB due to its high price. OSB or Oriented Starboard offers similar characteristics to that of plywood, and in a lesser price, thus challenging the market for plywood worldwide. However, structural panel market is anticipated to offer a huge opportunity for the plywood market. Structural projects includes roofs, walls, fencing, underlayment, ramps or the construction of a pet house.
On the basis of applications, plywood market is classified into hardwood plywood, softwood plywood, tropical plywood, and decorative plywood. Decorative plywood is used for furniture and cabinet making. Softwood finds its major application in structural panel projects, and hardwood plywood such as birch, maple, and Oak are used to furnish staircases and millwork. Hardwood plywood is also used extensively for architectural applications, to build doors, for paneling, in the creation of toys, musical instruments, skateboards, sporting equipment and others.
Due to the extensive utilization of different types of plywood for designing various items, the plywood market has seen a healthy growth and is expected to continue to flourish for the coming years.