China Plywood Market

China Plywood Market Overview:

The China plywood market is projected to exhibit a growth rate (CAGR) of 5.30% during 2024-2032. The robust construction and infrastructure development, government initiatives promoting sustainable forestry, increasing urbanization and housing projects, advancements in plywood manufacturing technology, and rising demand for furniture and interior design are some of the major factors propelling the growth of the market.

China Plywood Market Trends:

Rising Construction and Infrastructure Development

China’s rapid urbanization and infrastructure expansion are key drivers of the market. According to an article, the urban share of the population is projected to reach 60% by 2030. Twenty-five of the world’s largest 100 cities are in China. The government’s ambitious projects, such as the Belt and Road Initiative, and extensive housing developments require vast quantities of construction materials like plywood. According to the International Trade Administration, China’s 14th Five-Year Plan emphasizes new infrastructure projects in transportation, energy, water systems, and new urbanization. According to estimates, overall investment in new infrastructure during the 14th Five-Year Plan period (2021-2025) will reach roughly 27 trillion yuan ($ 4.2 trillion). The new plan emphasized 9 key items for energy efficiency and green building development; it also calls for retrofitting of over 350 million square meters of buildings and the construction of over 50 million square meters of net zero energy consumption buildings. The continuous growth in both residential and commercial construction activities ensures a steady demand for plywood.

Increasing Demand for Furniture and Interior Design

The rising middle class and increasing disposable incomes in China are driving the demand for high-quality furniture and interior décor. For instance, China's per capita disposable income stood at 11,539 yuan (about 1,624.57 U.S. dollars) in the first quarter of 2024, up 6.2% year on year in nominal terms, according to the data from the National Bureau of Statistics. Separately, urban per capita disposable income came in at 15,150 yuan, up 5.3%, while per capita income in rural areas stood at 6,596 yuan, an increase of 7.6%. In terms of income sources, per capita income from wages, net income from operations, and net income from property increased by 6.8%, 6.8%, and 3.2%, respectively, in nominal terms. During this period, the median nationwide per capita disposable income was 9,462 yuan, representing a nominal growth of 6.4% year on year. Consumers’ preference for modern, stylish, and customizable furniture drives the market further. The growth of e-commerce platforms has made furniture more accessible, boosting plywood demand.

China Plywood Market News:

• In April 2024, Danfoss, the Danish multinational engineering group, announced the beginning of construction to further expand its presence in China at a groundbreaking ceremony co-hosted with the local government. Danfoss operates eight production and innovation facilities in Haiyan, situated in China’s Zhejiang province. Covering an area of 135,000 sqm, the new campus to be constructed will be one of the biggest production sites in Danfoss’ history.
• In April 2024, China announced plans to launch a batch of projects to build new major cultural facilities or expand existing ones to promote the conservation and inheritance of the country's fine cultural and natural heritage.

China Plywood Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on size, thickness, grade, wood type, number of ply, sales channel, and application.

Size Insights:

• 4’x8’
• 4’x6’
• 4’x10’
• 3’x6’
• Others
   

The report has provided a detailed breakup and analysis of the market based on the size. This includes 4’x8’, 4’x6’, 4’x10’, 3’x6’, and others.

Thickness Insights:

• <8mm
• 8mm-18mm
• >18mm
   

A detailed breakup and analysis of the market based on the thickness have also been provided in the report. This includes <8mm, 8mm-18mm, and >18mm.

Grade Insights:

• MR Grade
• BWR Grade
• Fire Resistant Grade
• BWP Grade
• Structural Grade
   

The report has provided a detailed breakup and analysis of the market based on the grade. This includes MR grade, BWR grade, fire resistant grade, BWP grade, and structural grade.

Wood Type Insights:

• Softwood
• Hardwood
   

A detailed breakup and analysis of the market based on the wood type have also been provided in the report. This includes softwood and hardwood.

Number of Ply Insights:

• 3 ply
• 5 ply
• 7 ply
• More
   

The report has provided a detailed breakup and analysis of the market based on the number of ply. This includes 3 ply, 5 ply, 7 ply, and more.

Sales Channel Insights:

• Direct Sales
• Distributors/Retailers
   

A detailed breakup and analysis of the market based on the sales channel have also been provided in the report. This includes direct sales and distributors/retailers.

Application Insights:

• Furniture
• Flooring and Construction
• Automotive Interiors
• Packaging
• Marine
• Others
   

The report has provided a detailed breakup and analysis of the market based on the application. This includes furniture, flooring and construction, automotive interiors, packaging, marine, and others.

Regional Insights:

• North China
• East China
• South Central China
• Southwest China
• Northwest China
• Northeast China
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North China, East China, South Central China, Southwest China, Northwest China, and Northeast China.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

China Plywood Market Report Coverage:

Key Questions Answered in This Report:

• How has the China plywood market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the China plywood market?
• What is the breakup of the China plywood market on the basis of size?
• What is the breakup of the China plywood market on the basis of thickness?
• What is the breakup of the China plywood market on the basis of grade?
• What is the breakup of the China plywood market on the basis of wood type?
• What is the breakup of the China plywood market on the basis of number of ply?
• What is the breakup of the China plywood market on the basis of sales channel?
• What is the breakup of the China plywood market on the basis of application?
• What are the various stages in the value chain of the China plywood market? 
• What are the key driving factors and challenges in the China plywood?
• What is the structure of the China plywood market and who are the key players?
• What is the degree of competition in the China plywood market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the China plywood market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the China plywood market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the China plywood industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.