Marine Plywood Global Market Report 2022

Major players in the marine plywood market market are UPM Plywood, Potlatch Corporation, Roseburg, Greenply Industries, Mampilly Plywood Industries, SVEZA, Jisheng Tocho, Joubert Plywood, Asia Plywood Company, Samling, Austral Plywoods, Bahar Timber, Van Styn, Anchor Marine Plywood, TaiNuo Plywoods, Consmos, Asia Plywood Company, Demidovo Plywood Mill, BELLOTTI, Modak Ply, Swanson Group, Compensati TORO, and wolstenholme.

The global marine plywood market is expected to grow from $9.84 billion in 2021 to $10.69 billion in 2022 at a compound annual growth rate (CAGR) of 8.65%. The market is expected to reach $15.13 billion in 2026 at a CAGR of 9.09%.

The marine plywood market consists of sales of marine plywood by entities (organizations, sole traders, and partnerships) that is manufactured from durable face and core veneers, with few defects so it performs longer in both humid and wet conditions and resists delaminating and fungal attacks.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.

The main applications of marine plywood are marine applications and non-marine applications.Due to its structural properties, marine plywood is almost impenetrable and unaffected by water, and this makes it suitable for use in marine applications.

Marine plywood is manufactured in such way that it does not contain any gaps between the plies, even after it is sawed and treated with heat and pressure.Marine plywood is applied in various applications such as decks, docks, boats, and others.

For non-marine applications, marine plywood is used for making outdoor patio furniture or structures that are made of wood, especially for moist climate conditions.

Europe was the largest region in the marine plywood market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing popularity of high-speed and luxurious recreational boats is the key factor driving the growth of the marine plywood market.The marine tourism sector has grown globally.

With anticipated global growth rates of more than 3.5%, coastal and marine tourism is projected to be the largest value-adding segment of the ocean economy by 2030, at 26%. The demand in applications such as stringers, floor, transom and boat cabinetry, walls, seating has also increased. All these factors combined are expected to drive the marine plywood market significantly.

The advancement of marine plywood in rooftops and doors is the key trend being followed by the companies in the marine plywood market.Marine plywood performs well in humid and in wet conditions which can often result in increasing the durability as well as the structural strength of any construction.

This is why the presence of marine plywood in building rooftops and doors in residential spaces is continously increasing.Marine plywood is characterized by improved structural strength, lightweight nature, enhanced durability, and excellent resistance to warping, bending and delamination.

It is an excellent material to perform amidst humid and wet conditions.It is not treated with chemicals and is composed of several faces and core veneers that further aids in minimizing the gaps between the sheets.

As a result, it is commonly utilized for building boats and ships. Apart from this, it can also be employed in the production of outdoor furniture in coastal regions and multiple residential and commercial applications.

In August 2020, Patrick Industries, Inc. acquired Inland Plywood Company, a premier supplier, laminator, and wholesale distributor of treated, untreated, and laminated plywood, medium density overlay panels, and other specialty products, primarily serving the marine market as well as the recreational vehicle and industrial markets. Inland is headquartered in Pontiac, Michigan with an additional facility located in Cocoa, Florida. Inland’s fiscal 2019 revenue was approximately $60 million, and the Company expects the acquisition to be immediately accretive to net income per share.

The countries covered in the Marine Plywood Market market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.