February 01, 2024 11:08 ET | Source: Research and Markets Research and Markets
Dublin, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The "Global Plywood Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering. Pt Plywood
The latest market study reveals significant growth in the global plywood market, with projections indicating a surge in market size to US$ 83.51 Billion by 2030. This comprehensive analysis underscores the material's adaptability and its utilization in constructing robust structures capable of withstanding extreme conditions such as earthquakes and hurricanes.
Rise in Demand for Durable and Eco-Friendly Plywood Accelerating Market Growth The ever-increasing demand for durable, aesthetic, and environmentally-friendly materials is a key factor in the global expansion of the plywood market. Technological innovations have resulted in advanced plywood products, including flexible varieties, enhancing the plywood’s usage spectrum. Moreover, the adoption of plywood in making stylish furniture and its integral role in construction and office settings is fueling market growth.
Analytics Reveal Remarkable CAGR of 6.06% from 2024 to 2030 The market is set to grow at a compound annual growth rate (CAGR) of 6.06% between 2024 and 2030. This growth trajectory is supported by the increased use of eco-friendly materials, the rising income levels globally, and the heightened investment in interior design and decor.
Softwood Segment and MR Grade Plywood to Lead Market Share
The segmentation of the market unravels noteworthy trends, with softwood plywood predicted to maintain the largest market share due to its extensive use in various industries. Additionally, Moisture Resistant (MR) Grade plywood is slated to capture significant market share, driven by its robustness and moisture-resistant qualities.
Construction Sector to Dominate Plywood Application
The construction sector remains the principal user of plywood, leveraging its benefits for diverse applications such as wall paneling, flooring, and roofing. The segment’s dominance is anticipated to persist throughout the forecast period, augmented by infrastructural development and urbanization.
China's Strategic Position in the Plywood Market Ensures Continued Leadership
Regionally, China is expected to maintain its stronghold on the plywood market, supported by its booming construction industry and incline toward sustainable building practices. These factors, along with advanced manufacturing methodologies, prop up the market growth in the region.
Key Players Shaping the Global Plywood Market Landscape
The Global Plywood Market report offers a concentrated view of the competitive landscape, with detailed overviews, recent developments, and financials, bringing forth a clear picture of market dynamics.
The trends, forecasts, and insights presented in the report underscore the strategic importance of plywood in the current industrial milieu and its anticipated future impact. Key Attributes:
Type - Market breakup of 2 viewpoint
Grade - Market breakup of 5 viewpoint
Application - Market breakup of 7 viewpoint
For more information about this report visit https://www.researchandmarkets.com/r/aqyzud
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