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Global Plywood Market Report 2021-2027
Plywood is a type of wood panel manufactured from thin sheets of wood veneer. It is used as a beat substitute to the wood boards due to its durability to shrinkage, cracking and twisting. Different plywood types are available in the market, designed with low toxicity, enhanced durability, aesthetics and environmental sustainability. Due to these properties plywood's are used in construction and flooring applications for enhanced mechanical strength. It also provides enhanced insulation properties to the final product and is mostly weather and waterproof.To get more news about film faced plywood, you can visit boosterplywood.com official website.
The United States, Japan, France, Germany and the United Kingdom are among the leading importers of plywood worldwide. India and China are significant plywood producers because of their forest wealth, a variety of deciduous, coniferous, tropical and evergreen trees, which is an essential resource for the wood panel industry. As per the research findings, Worldwide Plywood Market was US$ 55.2 Billion in 2020.
Besides this, the leading companies' technological advancements have reduced manufacturing costs and increased profitability and enhanced plywood products' quality. In 2016, manufacturers' go-green strategy acted as another significant factor that has bolstered the market's growth. In contrast to this, Boise Cascade Company announced an agreement to acquire American Lumber Distributors and Brokers, Inc. in 2019.
The report has covered companies such as Boise Cascade Company, Century Plyboard (India) Ltd, Greenply Industries, Georgia Pacific LLC, Weyerhaeuser. As per this market research report, Global Plywood Industry is expected to grow with a CAGR of 2.23% from 2020 to 2027.