In 2024, South Korea's plywood production is forecasted to be 201.94 thousand cubic meters. By 2025, it is expected to decline to 183.18 thousand cubic meters, marking a year-on-year decrease of 9.31%. The downward trend continues in 2026 with an estimated production of 164.88 thousand cubic meters, representing a further decline of 9.99%. The production is forecasted to drop to 147.02 thousand cubic meters in 2027, showing a year-on-year decrease of 10.84%. By 2028, it is predicted to fall to 129.6 thousand cubic meters, indicating a year-on-year decrease of 11.83%. Over the five-year forecast period, the compound annual growth rate (CAGR) is expected to be around -8.31%.
Future Trends to Watch For:
- Rising costs of raw materials and labor are expected to continue impacting production volumes.
- Technological advancements and automation in manufacturing processes could potentially offset some declines if adopted effectively.
- Environmental regulations and sustainability measures might shape future production capacities and practices.
- Demand fluctuations in domestic and international markets will play a crucial role in influencing future production trends.
