US plywood production experienced fluctuations over the past decade. From a peak in 2016 at 11.239 million cubic meters, the production decreased to 9.0723 million cubic meters in 2023. Year-on-year variations indicated several drops, notably in 2018 and continuously from 2019 onwards. The last two years, 2022 and 2023, saw respective declines of 4.65% and 1.96%. The compound annual growth rate (CAGR) from 2019 to 2023 was -2.13%.
For the future, a continuous decline is forecasted, with production dropping annually by approximately 1.64% from 2024 to 2028, culminating in an estimated 8.1836 million cubic meters by 2028. This represents an overall reduction of 7.96% over the five-year horizon.
Future trends to watch for include potential impacts of new construction materials, environmental regulations on forestry, and technological advancements in plywood production. These factors could influence the production volumes and market dynamics in the coming years.
