The plywood comes in the category of the wood products which are engineered and are of high quality. The plywood is a panel that is manufactured from the thin sheets of the wood veneer which are stacked up. The plywood provides profitable properties such as shrinkage, splitting, twisting, and cracking to search for a wide range of applications in the end-user industries. When compared with the plain wood it efficiently delivers flexibility, good strength, workability, and reusability. The latest implementation of the GST has affected the plywood market. In the state of Haryana, there are two issues regarding GST that are still pending in the council of the GST. Among them, one is that the tax rate on the plywood should be cut down to 18%from 28%.

The global Marine Plywood Panel market worth US$ 15.7 Billion by 2027, growing at a CAGR of 8.25%

Recently, the commercial vehicle manufacturers are having an increased demand for the chequered plywood for the purpose of automotive flooring. This factor has triggered the demand for the plywood market. In the marine sector, the plywood are used in the construction of the decks. The other end-user industry that has a major consumption of the plywood is the structural panel industry. The other factors that are propelling the growth of the plywood market are the increasing disposable incomes of the people, changing inclination of the consumers, and the expanding construction sector. The challenges that are faced in the plywood market are the increased cost of the plywood when compared with the other substitutes that offer similar characteristics and the changing preference of the packaging manufacturers towards materials such as plastics, metals, and cardboard.

Discussing the geographical view of global marine plywood panel market, North America has dominated the market owing to the rising consumption of the plywood in the construction sector. Moreover, Europe is following North America owing to the growing demand from the key countries such as Germany, and U.K. In the emerging countries such as India, Japan, and China the plywood market hold an efficient presence in increasing demand owing to enhancing construction industry. The regions such as India, Brazil, and other South East Asian countries holds a potential to improvise and introduce innovative advancement in the plywood market owing to the availability of the wood plantations, and rich forest resources.

The global marine plywood panels market trend is segmented into several classifications such including data type analysis, application analysis, and regional analysis. Based on the data type analysis the market is driven by 18mm. Whereas, based on the application analysis the market is categorized by docks and boats industry, furniture industry, building industry, and others. Based on the regional analysis, the market is widely range to North America, U.S., Europe, UK, France, Germany, Asia Pacific, China, Japan, India, Latin America, Brazil, Middle East and Africa.

Leading players of the global marine plywood panel market include Greenply Industries Ltd., Century Plyboard (India) Ltd., Atlantic Plywood Corporation, Georgia-Pacific Corporation, Roseburg Forest Products Co., Boise Cascade LLC, Uniply Industries Ltd., Ainsworth Lumber Co. Ltd., Weyerhaeuser Company, Eksons Corp. Bhd., and Jaya Tiasa Holdings Bhd.

Marine Plywood Panel Market Scope

Key Segmentation of the Global Marine Plywood Panel Market 2018-2025

Data Type Analysis of Global Marine Plywood Panel Market 2018-2025
• 18mm

Application Analysis of Global Marine Plywood Panel Market2018-2025
• Docks and Boats Industry
• Furniture Industry
• Building Industry
• Others

Regional Analysis of Global Marine Plywood Panel Market 2018-2025

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa