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U.S. - Plywood - Market Analysis, Forecast, Size, Trends and Insights

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Article Publishing Date: Jun 14, 2018

China, Brazil, Canada and Russia Remain the Leading Suppliers of Plywood to the U.S.

IndexBox has just published a new report "U.S.: Plywood – Market Report. Analysis And Forecast To 2025". Here is a summary of the report’s key findings.

The U.S. Plywood Market is Seeing a Recovery, against Construction Sector Growth in the USA

The U.S. plywood market totalled 13.1M cubic metres in 2017, a decline of 3.1M cubic metres (or 19%) against the outset level. In wholesale prices, the market totaled $5.7B in 2017, remaining relatively stable against the previous year. The market value declined sharply between 2007 and 2009, continuing with a recovery over the next six years: this was largely due to the expansion of the residential and industrial construction sector, as well as renovation of existing homes. Despite failing to reach pre-crisis figures, the trend changed in 2016 when the market declined again by 6%, stabilizing over the subsequent year (IndexBox estimates). 

The Market Is Projected to Reach 15.1M Cubic Metres

Plywood can be used for various purposes, depending on the surface treatment applied. Plywood is used in residential, commercial and industrial practice, mainly in furniture production, construction, interior decorating, and packaging, and also as coatings and wall-cladding. 

The outlook for the U.S. plywood sector depends heavily on the country's economy, particularly in terms of the housing market. From 2015-2016, the plywood market increased at a robust pace, due to the propitious housing market. The housing market in the United States is predicted to remain strong. About a +4% increase in the national median existing-home price this year is projected by the National Association of Realtors. Furthermore, an approximately +2% growth in sales is expected this year, amounting to 5.46 million and a further +4% growth to 5.68 million in 2018. The increasing number of house sales was mainly due to increasing employment, as well as low mortgage interest rates.

Driven by the current economic recovery in the U.S., the construction and household sector as a whole is expected to continue an upward consumption trend over the next six years. Strong employment growth is one of the main drivers that may lead to new income growth, providing a solid base for consumer spending. Another motive is easy credit availability, which creates big-ticket spending for end-use products, residential housing, and non-residential construction that in turn will influence the growth in demand for plywood.

Market performance is forecast to grow with an anticipated CAGR of +1.8% from 2017 to 2025, which is projected to lead the market volume to 15.1M cubic metres by the end of 2025.

Production still Lags behind Pre-crisis Figures

U.S. plywood manufacturing stood at 9.7M cubic metres in 2017, equating to $3.5B. The production volume demonstrated a downward trend from 2007-2009; it then remained relatively stable over the subsequent eight year period. In value terms, production witnessed a recovery over the period from 2010 to 2013 following a rise in producer prices; over the past four years, production once again fell. 

The Production Structure Is Shifting towards a Larger Non-coniferous Plywood Production 

The plywood category is an aggregate category. In this report, the total volume of production is divided into two categories: plywood, coniferous and plywood, non-coniferous.

Plywood, coniferous accounted for the highest share (81% in 2017) of U.S plywood manufacturing, followed by plywood, non-coniferous (19%). The share of plywood, non-coniferous strengthened by +6 percentage points, while plywood, coniferous saw its share reduced. 

Approx. 12% of the Market Was Buoyed by Imports from China

The share of imports in U.S. plywood consumption stood at 31% in 2017. Due to a high trade intensity, imports should be regarded as a strong factor influencing U.S. market dynamics in the medium term. Moreover, the U.S.’s main trading partner is China, and Chinese products assumed a 12% share of the plywood market in the U.S. The other suppliers were Brazil, Canada, Russia, Chile and Indonesia.

China Emerged as the Fastest Growing Foreign Market for Plywood Exports

In 2017, U.S. plywood exports expanded to 630K cubic meters. Over the period under review, the export volume indicated a mixed trend pattern: a solid growth from 2010 to 2013 was followed by a deep slump trend; slight growth then returned over the last two years. 

In 2017, Canada (42%), Mexico (21%) and China (19%) were the main destinations for plywood exports from the U.S., together comprising 82% of the total volume. China emerged as the fastest growing country of destination, with exports to this country expanding at average annual rate of +38.1% from 2007 to 2017. Exports to Canada and Mexico indicated only a moderate growth, with a CAGR of +2.6% and +1.2%, respectively.

Consequently, the share of China in terms of total exports increased significantly (+18 percentage points) from 2007-2017, while the share of Mexico lost -3 percentage points; the share of Canada remained unchanged against its outset level. 

China, Brazil, Canada and Russia Remain the Leading Suppliers of Plywood to the U.S.

From 2007 to 2017, U.S. plywood imports amounted to 4,029K cubic meters in 2017, decreasing slightly against the previous year. Prior to that, the volume of imports remanied relatively stable from 2010-2014; then it soared rapidly over the next two year period, losing ground in 2017. In value terms, plywood imports grew to $2,441M in 2017, an increase of +5% against the previous year. Unlike the volume of imports, it expanded gradually but robustly from 2010-2017, affected by both the trend pattern of imports in physical terms and the price dynamic.

In 2017, China (1,534K cubic meters) was the main supplier of plywood, comprising up to 38% of U.S. imports in physical terms, followed by, lagging far behind, Brazil (12%), Canada (12%) and Russia (10%). From 2007 to 2017, plywood imports from China roller-coasted, which finally led to a slight reduction in 2017 against its outset level. By contrast, suppliers from Russia increased by +5.7% per year over the period under review. Therefore, the share of Russia in terms of total plywood imports to the U.S. increased by +5 percentage points, while she share of China lost -4 percentage points. The shares of the other countries remained practically unchanged against their outset levels.

Do you want to know more about the U.S. plywood market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • plywood market share
  • plywood prices
  • plywood industry
  • plywood sales
  • plywood import
  • plywood export
  • plywood market forecast
  • plywood price forecast

Source: IndexBox AI Platform

Product coverage:
• FCL 1640 - Plywood

This report provides an in-depth analysis of the plywood market in the USA. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• USA

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the USA
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2025
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2018
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2018
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2018
Table 2:
Market Volume, In Physical Terms, 2007–2018
Table 3:
Market Value, 2007–2018
Table 4:
Per Capita Consumption In 2007-2018
Table 5:
Imports, In Physical Terms, By Country, 2007–2018
Table 6:
Imports, In Value Terms, By Country, 2007–2018
Table 7:
Import Prices, By Country Of Origin, 2007–2018
Table 8:
Exports, In Physical Terms, By Country, 2007–2018
Table 9:
Exports, In Value Terms, By Country, 2007–2018
Table 10:
Export Prices, By Country Of Destination, 2007–2018
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2018
Figure 2:
Market Value, 2007–2018
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2018
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2018
Figure 5:
Trade Balance, In Physical Terms, 2007-2018
Figure 6:
Trade Balance, In Value Terms, 2007-2018
Figure 7:
Per Capita Consumption, 2007-2018
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2018
Figure 21:
Production, In Value Terms, 2007–2018
Figure 22:
Imports, In Physical Terms, 2007–2018
Figure 23:
Imports, In Value Terms, 2007–2018
Figure 24:
Imports, In Physical Terms, By Country, 2018
Figure 25:
Imports, In Physical Terms, By Country, 2007–2018
Figure 26:
Imports, In Value Terms, By Country, 2007–2018
Figure 27:
Import Prices, By Country Of Origin, 2007–2018
Figure 28:
Exports, In Physical Terms, 2007–2018
Figure 29:
Exports, In Value Terms, 2007–2018
Figure 30:
Exports, In Physical Terms, By Country, 2018
Figure 31:
Exports, In Physical Terms, By Country, 2007–2018
Figure 32:
Exports, In Value Terms, By Country, 2007–2018
Figure 33:
Export Prices, By Country Of Destination, 2007–2018
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