Home:  Global Wood p01.gif (127 bytes) Industry News & Markets

North America Plywood Market to Reach 18.1 Million Cubic Meters, by 2028
[Jun 26, 2023]

The North America plywood market size reached 15.0 Million Cubic Meters in 2022. Looking forward, IMARC Group expects the market to reach 18.1 Million Cubic Meters by 2028, exhibiting a growth rate (CAGR) of 3.3% during 2023-2028.

North America Plywood Market Trends and Growth Drivers:
The rising construction industry represents one of the key factors driving the growth of the North America plywood market. This is primarily attributed to the increasing population and rapid urbanization, which is driving the growth of the market. The rising use of plywood as a fundamental material in applications, such as roofing, flooring, wall sheathing, and formwork, providing structural support and stability to buildings is boosting the growth of the market. Furthermore, the rise in renovation and remodeling activities across residential and commercial sectors is driving the demand for plywood. The increasing popularity of plywood's versatility and easy installation is making it an ideal choice for interior paneling, cabinetry, furniture, and decorative applications which is influencing the market growth.

The rising preference for plywood certified by organizations like the Forest Stewardship Council (FSC), along with the increasing focus on sustainable and eco-friendly construction practices is contributing to the growth of the market. In line with this, the rising trends in architectural and interior design are facilitating the growth of the market. The market is also driven by contemporary design concepts that emphasize natural materials, clean lines, and durability leading to an increased usage of plywood in modern building projects.

Other factors, such as the rising demand for durable and aesthetically appealing building materials and changing consumer preferences, are creating a positive outlook for the market across the region.

Source: IMARC Group