Global Marine Plywood market segments 2024, Forecast To 2033
5 Feb, 2024
The marine plywood market has exhibited strong growth, increasing from $11.82 billion in 2023 to $13 billion in 2024, reflecting a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period is attributed to shipbuilding industry growth, marine infrastructure development, waterfront property construction, marine safety regulations, recreational boating, and architectural applications. Anticipating rapid growth in the next few years, the market size is expected to reach $19.46 billion in 2028, supported by an expected CAGR of 10.6%. This growth in the forecast period is linked to the demand for renewable energy, the demand for tourism, rising demand for luxury yachts, climate resilience, and global shipping and trade. Noteworthy trends in the forecast period encompass eco-friendly materials, innovative plywood technologies, coastal protection, digital transformation, and innovative bonding agents.
Global Marine Plywood Market Key Driver
The growing popularity of high-speed and luxurious recreational boats drives the marine plywood market's growth. With coastal and marine tourism projected to be the largest value-adding segment of the ocean economy by 2030, the demand for marine plywood in boat applications, including stringers and cabinetry, is expected to rise significantly.
Get A Free Sample Of The Global Marine Plywood Market ReportGlobal Marine Plywood Market Segments
The global marine plywood market covered in this report is segmented –
1) By Application: Marine Applications, Non-Marine Applications
2) By Marine Applications: Deck, Dock, Boat, Other Marine Applications
By Geography: The regions covered in the Marine Plywood market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Europewas the largest region in the marine plywood market in 2023. The regions covered in the marine plywood market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Marine Plywood Industry Players
UPM Plywood, Potlatch Corporation, Roseburg Forest Products Company, Greenply Industries Ltd., Mampilly Plywood Industries, SVEZA Group, Joubert Plywood Pvt Ltd., Asia Plywood Company Sdn Bhd, Samling Group of Co, Austral Plywoods Pty Ltd., Bahar Orman Urunleri, Van Styn, The Indian Plywood Mfg Co Pvt Ltd., Consmos plywood factory, Bellotti Spa, Anurag Decorative Pvt Ltd., Swanson Group Inc., Wolstenholme International Inc., Georgia-Pacific LLC, Samko Timber Ltd., West Fraser Timber Co. Ltd., Boise Cascade Company, Metsa Group, Weyerhaeuser Company, Century Plyboards Ltd., Jaya Tiasa Holdings Berhad, Mohawk Industries Inc., Plum Creek Timber Company Inc., Murphy Plywood, Coastal Forest Resources Company
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Marine Plywood Market Overview
Marine plywood refers to a stronger, higher-quality material made of Douglas fir or western larch that hasn't been chemically treated and is used to build boats, docks, and other dock-related components. Marine plywood can be used in environments where it is exposed to moisture for long periods. It is generally used for building boats and ships and other applications where the plywood can get exposed to water.
Marine Plywood Global Market Report 2023 provides data on the global marine plywood market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The marine plywood market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.