Albany, NY -- (SBWIRE) -- 07/07/2014 -- Plywood is a wood panel prepared from thin sheets of wood veneer. Plywood is one of the most widely used wood products. It is inexpensive, flexible, re-usable and workable. Plywood is used as a substitute for plain wood due to its resistance to cracking, splitting, shrinkage and twisting. Plywood generally offers higher degree of strength than plain wood. On the basis of applications plywood is classified as softwood plywood, hardwood plywood, tropical plywood and decorative plywood among others.
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The market for plywood was mainly driven by increasing demand from housing market. The demand has increased owing to growing significance of plywood in the buildings & construction industry and its advantages over conventional metal, wood, and plastic. In addition, plywood is also used in marine applications for building decks. Structural panel market is likely to be the major opportunity for the plywood market. The major restraint for the market would be higher cost of plywood as compared to OSB (Oriented Starboard) which offers similar features to that of plywood. .
In terms of demand, North America was the leading region for plywood market. The demand has been substantial from housing market. North America was followed by Europe, where the demand is huge from housing and construction market. The demand for plywood is mainly from the U.K. and Germany. Asia Pacific is expected to be the fastest growing market for plywood. The demand is this region is driven by Japan, India and China owing to construction activities in this region. The Rest of the World is expected to exhibit lower demand for plywood in upcoming years owing to higher prices compared to OSB.
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Some of the key manufacturers in the plywood market are Ainsworth Lumber Co. Ltd., Boise Cascade LLC, Atlantic Plywood Corporation, Eksons Corp. Bhd, Century Plyboard (India) Ltd., Greenply Industries Ltd., Georgia-Pacific Corporation, Uniply Industries Ltd. and Weyerhaeuser Company among others.
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