According to the latest report by IMARC Group, titled “North America Plywood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the North America plywood market size reached 14.5 Million Cubic Meters in 2021. Looking forward, IMARC Group expects the market to reach 17.6 Million Cubic Meters by 2027, exhibiting a growth rate (CAGR) of 3.4% during 2022-2027.
Plywood represents an engineered wood product that is produced from three or more thin sheets of wood, also called plies. A thin outer layer of additional materials, including plastic, resin-impregnated paper, fabric, or Formica, can be added to the face and back veneers for improving durability. These components also prevent the plywood from abrasion, moisture, corrosion, etc., as well as facilitate better binding of paints and dyes. As such, it is extensively utilized in the manufacturing of household furniture, such as bookcases, kitchen cabinets, windows, doors, interior rails and balustrades, wall and floor coverings, internal paneling and timber joinery items, etc.
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The widespread product adoption for several structural and constructional purposes, on account of its dimension stability, versatility, strength, stiffness, durability, etc., is primarily driving the North America plywood market. Additionally, the rising number of residential and commercial spaces is further catalyzing the market growth. Besides this, the growing utilization of the go-green strategy by the leading manufacturers is acting as another significant growth-inducing factor.
Moreover, numerous technological advancements have resulted in the development of new variants with improved features, such as flexible plywood, which is positively influencing the regional market. Apart from this, the increasing investments in R&D activities aimed at introducing superior adhesion techniques to enhance the production processes are anticipated to fuel the North America plywood market over the forecasted period.
Competitive Landscape with Key Players:
The competitive landscape of the North America plywood market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Highlights of the Market Segmentation:
The report has segmented the North America plywood market on the basis of application, sector and country.
Breakup by Application:
Residential
Commercial
Breakup by Sector:
New Construction
Replacement
Breakup by Country:
United States
Canada
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Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
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