Construction in North American drives to growth of the plywood market
In accordance with Research Nester, the global plywood market is expected to expand by the end of 2017. Plywood will face increased demand from the construction of houses and other activities. What is more, the economical price of the plywood will drive the market more actively.
The region of North American has been continuously dominating the market globally, in the view of the market demand for plywood. This has been mainly due to high plywood consumption by the construction segment. It will be followed by North America and Europe occupying the second position in the market. Asia Pacific is anticipated to demonstrate a steady growth within the next few years. Additionally, plywood market in Asia Pacific will further boost due to the massive increase in construction sector.
Apart from this, the countries with large forest areas such as India, Brazil and countries of South Asian have the potential to be the core suppliers of plywood in coming years. Moreover, the rising local demand for plywood in India as a result of increasing disposable income among the growing middle and affluent class and the boosting infrastructure in recent times is expected to turn India into an important consumer of plywood in future.
The increasing demand for the plywood is led by rising construction activities (both for residential and commercial purposes) and growing preferences for well-designed floors, home decor. Steady population growth coupled with growing disposable income as well as growing preferences for branded plywood has enlarged the plywood market globally.
Besides this, plywood is also increasing in the marine industry, which might lead to increases in the demand of plywood by structural design companies. Nevertheless, the plywood industry is facing resistance from the plastic industry and growing preference for some other materials, for example, metals. The companies around the world are introducing the green practices in their manufacturing process. However, the cost associated with the plywood is relatively high as compared to the oriented strand boards. Thus, this is expected to influence the growth of plywood market as the customers may start shifting from the plywood to OSB boards.
Information provided according to http://www.woodworkingnetwork.com