According to IMARC Group’s latest report, titled “Indian Plywood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the Indian plywood market reached a value of INR 243.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach INR 344.2 Billion by 2027, exhibiting at a CAGR of 5.97% during 2022-2027.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Plywood refers to the material that is made by assembling three or more thin layers of wood. It forms a flat sheet, which is extremely versatile and widely utilized for a wide array of structural, exterior and interior paneling applications. Since plywood provides increased stability to a structure even under temperature and moisture changes, it is widely utilized in the construction sector for building floors, walls, and roofs. Also, plywood does not corrode, which makes it an ideal choice for various chemical works. Since it is characterized by high strength to weight ratios and cost-effectiveness, it is extensively used for applications such as formworks and furniture manufacturing.
Market Trends and Drivers:
The Indian plywood market is primarily driven by the growing demand for plywood from the residential sector in the country. This is facilitated by the increasing population, shifting lifestyle patterns and the increasing number of nuclear families across India. In line with this, there has been a considerable increase in the refurbishment and renovation of existing residential areas, supported by rapid urbanization, inflating disposable incomes and improving living standards of the working population. A majority of the population prefers apartments that are semi-furnished or fully furnished, owing to the associated convenience, which, in turn, is propelling the demand for plywood in the Indian market. Apart from this, numerous key players are collaborating and entering into joint ventures with regional plywood manufacturers based across India. The majority of these manufacturers are based out of areas that have an abundance of raw material supply, which ensures an assured supply of finished products at competitive prices.
Indian Plywood Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the Indian plywood market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Century Plyboards Limited
Key Market Segmentation:
Breakup by Residential and Commercial Applications
Breakup by Organised and Unorganised Sector
Breakup by New Construction and Replacement
- New Construction
Breakup by Region
- North India
- East India
- West and Central India
- South India
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- The Impact of COVID-19 on the Market
- Value Chain Analysis
- Structure of the Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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