The global plywood industry, a cornerstone of the engineered wood sector, continues to thrive due to its versatility, strength, and sustainability. Plywood, manufactured by bonding thin layers of wood veneer with adhesives under heat and pressure, is widely used in construction, furniture, packaging, and interior design. This article provides a comprehensive analysis of the industry’s performance in FY 2024-25, highlights major exporting and importing countries with trade volumes from 2022 to 2024, and offers a forward-looking outlook to 2030, drawing on authoritative market data.

Industry Volumes in FY 2024-25

In 2024, the global plywood market was valued at approximately USD 59.01 billion, with a consumption volume of 134 million cubic meters, reflecting a modest 3.3% growth from the previous year. Global production stood at an estimated 137 million cubic meters, driven by robust demand in construction (49.9% market share) and furniture manufacturing. The market’s revenue is projected to reach USD 62.67 billion in 2025, with a compound annual growth rate (CAGR) of 6.6% anticipated from 2025 to 2033. These figures underscore the industry’s resilience despite challenges like volatile raw material prices and stringent environmental regulations.

Major Countries Dominating the Plywood Industry

The plywood industry is geographically concentrated, with Asia-Pacific leading due to its manufacturing prowess and abundant timber resources. Below are the key players shaping the global market:

China: As the largest producer, consumer, and exporter, China dominates the industry. Its robust construction and furniture sectors, coupled with low production costs, solidify its position. In 2024, China produced over 50% of global plywood and exported 13 million cubic meters.

United States: North America’s leader, the U.S. benefits from a strong construction sector and high-quality, eco-certified plywood production. It holds a 40.7% regional market share in 2025 projections.

Germany: Europe’s top player, Germany leverages its advanced woodworking industry and sustainability focus, with demand driven by construction and automotive applications.

Indonesia: A major exporter of tropical hardwood plywood, Indonesia capitalizes on its strategic location and resource availability.

Vietnam: Emerging as a key supplier, Vietnam’s plywood industry is fueled by export-oriented manufacturing and investments in technology.

Global Export Volumes (2022–2024)

Global plywood exports reached 30 million cubic meters in 2024, up 5.5% from 2023, with a value of USD 16.1 billion. The top exporting countries and their volumes over the last three years are:

China:

2022: 12.5 million cubic meters

2023: 12.8 million cubic meters

2024: 13 million cubic meters (34% of global exports, valued at USD 5.1 billion)

Belgium:

2022: 7.5 million cubic meters

2023: 7.8 million cubic meters

2024: 8 million cubic meters (CAGR +43.3% from 2013–2024)

Brazil:

2022: 2.2 million cubic meters

2023: 2.3 million cubic meters

2024: 2.3 million cubic meters

Vietnam:

2022: 1.8 million cubic meters

2023: 1.9 million cubic meters

2024: 2 million cubic meters (USD 1.3 billion)

Indonesia:

2022: 1.5 million cubic meters

2023: 1.6 million cubic meters

2024: 1.6 million cubic meters (24% increase to the U.S.)

Other notable exporters include Russia (1.5 million cubic meters in 2024), Chile, Thailand, Canada, and the United States, collectively contributing to 67% of global exports in 2024.

Major Importing Countries and Import Volumes (2022–2024)

Global plywood imports totaled 28 million cubic meters in 2024, valued at USD 15 billion, with a 2.3% increase from 2023. The top importing countries and their volumes are:

Belgium:

2022: 15.5 million cubic meters

2023: 15.8 million cubic meters

2024: 16 million cubic meters (27% of global imports, CAGR +42.0% from 2013–2024)

United States:

2022: 4.8 million cubic meters

2023: 4.9 million cubic meters

2024: 4.9 million cubic meters (3.1 billion square feet, up 8% in volume)

Thailand:

2022: 4.7 million cubic meters

2023: 4.8 million cubic meters

2024: 4.9 million cubic meters (CAGR +32.1%)

France:

2022: 4.7 million cubic meters

2023: 4.8 million cubic meters

2024: 4.8 million cubic meters (CAGR +25.6%)

Spain:

2022: 4.2 million cubic meters

2023: 4.3 million cubic meters

2024: 4.3 million cubic meters (CAGR +41.9%)

Other significant importers include the Netherlands, India, Poland, South Korea, and Japan, accounting for 15% of global imports in 2024. The U.S. saw a 25% increase in import value to USD 2 billion in 2022, driven by demand from Indonesia and Vietnam.

Industry Outlook to 2030

The global plywood market is poised for steady growth, with projections estimating a market volume of 141 million cubic meters and a value of USD 65.4 billion by 2035, though growth is expected to accelerate by 2030. Key trends and drivers include:

Urbanization and Construction Boom: Rapid urbanization in Asia-Pacific, Latin America, and the Middle East, coupled with initiatives like Saudi Arabia’s Vision 2030, will drive demand for plywood in residential and commercial construction.

Sustainability and Eco-Friendly Products: Consumer preference for certified (FSC, PEFC) and eco-friendly plywood, alongside innovations like fire-resistant and moisture-resistant grades, will shape market growth.

Technological Advancements: Investments in resin technology and manufacturing processes will enhance plywood’s durability and environmental compliance, boosting its appeal.

Trade Regulations: Anti-dumping measures, such as the EU’s 2024 investigation into Chinese plywood, may reshape trade flows, encouraging domestic production in regions like Europe.

Challenges: Volatile raw material prices, environmental regulations, and competition from alternative materials like MDF could restrain growth.

By 2030, the market is expected to grow at a CAGR of 4.21% to reach USD 60.31 billion, with Asia-Pacific maintaining dominance due to its manufacturing strength and export capabilities. Emerging economies like India and Brazil are likely to become significant consumers and suppliers, driven by infrastructure development and rising disposable incomes.

Conclusion

The global plywood industry in FY 2024-25 demonstrates resilience and growth, with a market size of USD 59.01 billion and 134 million cubic meters in consumption. China, the United States, Germany, Indonesia, and Vietnam lead production and trade, while Belgium, the U.S., Thailand, France, and Spain dominate imports. Looking ahead to 2030, the industry is set for steady expansion, fueled by urbanization, sustainability trends, and technological innovation, though challenges like raw material costs and trade regulations warrant close monitoring. Stakeholders must leverage these insights to navigate the evolving landscape and capitalize on emerging opportunities.