Understanding Impact of COVID-19 on Waterproof Plywood Market with Geographic Segmentation, Statistical Forecast and Competitive Landscape Report to 2027

TMR

5 years ago

Waterproof Plywood Market: Important Material for Building & Construction Industry

Waterproof plywood possess higher water resistance than regular plywood or solid wood. It is ideal for furniture that regularly comes in contact with water. It is used in various parts of home due to its water or moisture resistant properties.
Waterproof plywood is resistant to various weather conditions including rain, snow, and sleet. It is also suitable for subfloors, as it keeps moisture from the ground out of the floor.
Plywood is available in two grades: exterior grade and interior grade. Exterior grade is used outdoors. It can withstand outside weather conditions. Interior grade is used in indoor applications.
Waterproof plywood differs from marine plywood. Marine plywood offers resistance to prolonged water exposure. It is used for boat construction, ship making, and other different marine applications. Marine plywood is costlier than waterproof plywood.
Waterproof plywood is widely used in the manufacture of modular kitchen furniture. It is used in cabinet shelves, kitchen cabinets, and backsplashes.

Rise in Demand for Waterproof Plywood in Building & Construction Industry

Waterproof plywood is employed in several applications in the construction industry such as flooring, interiors, furniture, wall partition, and ceilings. Rise in demand for interior materials for ceiling flooring and furniture is projected to boost the demand for waterproof plywood during the forecast period.
The waterproof plywood market is driven by the rise in demand for the plywood in the housing market. Demand for waterproof plywood has been increasing due to the rise in application of waterproof plywood in the building & construction industry. Waterproof plywood offers various advantages over conventional wood, metal, and plastic.
Waterproof plywood is used extensively in commercial buildings such as hotels, theaters, and airports. Increase in demand for waterproof plywood in airports, schools, and hotels across the globe is projected to boost the market during the forecast period.
Most of the countries such as the U.S., Germany, France, and the U.K. have implemented stringent regulations to follow safety compliances by using fire safe plywood in permanent construction products. This is anticipated to boost the global waterproof plywood market during forecast period.
Higher cost of waterproof plywood compared to that of Oriented Starboard (OSB), which offers similar features, is a primary restraint of the waterproof plywood market

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Commercial End-use Segment to Generate Lucrative Opportunities

Based on end-use, the global waterproof market has been segmented into commercial, residential, and others. The commercial segment is projected to hold major share of the global waterproof plywood market in the next few years. Increase in infrastructure projects in several countries is projected to boost the demand for waterproof plywood across the globe.
After the commercial segment, the residential segment is estimated to account for vital share of the waterproof plywood market during the forecast period. Waterproof plywood is primarily employed in kitchen cabinets, bathroom furniture, and flooring and ceiling products in the residential segment. People across the globe are increasingly spending on interiors products in residential houses. This is projected to propel the demand for waterproof plywood in the near future.

Asia Pacific to Offer Lucrative Opportunities

Based on region, the global waterproof plywood market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America is one of the major producers and consumers of waterproof plywood. It is followed by Europe and Asia Pacific. Increase in demand for waterproof plywood due to the changing environmental conditions is fueling the market in North America.
Europe is likely to hold key share of the waterproof plywood market, after North America, during the forecast period due to the enactment of safety compliances for developers across the region
Demand for waterproof plywood is expected to increase in China, Japan, and India during the forecast period. Rise in disposable income, growth in the building & construction industry, and increase in demand for waterproof plywood in housing in developing economies of Asia Pacific such as China and India are estimated to boost the market in the region. Growth in middle class population in Asia is augmenting the demand for plywood in the region. Additionally, plywood is cheaper than wood boards. This is propelling the waterproof plywood market in the region.
The waterproof plywood market in Latin America and Middle East & Africa is expanding at a moderate pace due to the limited demand for waterproof plywood compared to that in other regions

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Key Players in Waterproof Plywood Market

The global waterproof plywood market is highly fragmented, with the presence of a number of manufacturing companies. Key players operating in the waterproof plywood market include: