Veneer Sheet Market to Hit $18.5B Propelled by Robust Demand in Asia-Pacific
NEW YORK, Jan. 23, 2023 (GLOBE NEWSWIRE) -- IndexBox's recent report on the global veneer sheet market highlights the following key points.
Veneer Sheet Market Forecast
The global veneer sheet market is forecast to rise at a CAGR of 1.7% from $15.7 in 2022 to $18.5B in 2030 due to rising demand for furniture and wall and floor covering materials from the growing population and the increasing popularity of natural wood products.
Veneer sheets are thin slices of wood that are used to cover furniture, cabinetry, and other wooden surfaces. On the basis of type, the market is classified into natural and engineered ones. Natural veneers are further sub-segmented into hardwood and softwood. Engineered ones are further processed into plywood, particleboard, fiberboard, and oriented strand board (OSB).
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The Asia-Pacific region is expected to remain the dominant market for veneer sheets over the forecast period. The growing demand for wood products spurred by increasing urbanization and infrastructure development in China and India is the major factor driving the growth of the market. In addition, the presence of a large number of manufacturers in the region makes it easy for buyers to find suppliers, which is another factor stimulating market expansion.
Veneer Sheet Application
The market is segmented into interior and exterior applications. The interior applications segment is expected to account for the largest share of the market during the forecast period. Veneer sheets are widely used in furniture, wall paneling, cabinets, and doors.
The exterior applications segment includes cladding, decking, fencing, and siding. Veneer sheets are extensively used for these purposes, as they provide a durable surface that is resistant to weathering and rotting.
Market Expansion Restraints
High Cost of Raw Materials and Logistics. The major raw materials used in the production of veneer sheets are wood logs, which are expensive. Rising freight rates also increase the expenditures, resulting in higher prices for final products.
Volatile Price of Veneer Sheets. The prices of veneer sheets are highly volatile and fluctuate frequently due to changes in raw material cost, global economic conditions, etc.
Limited Availability of Raw Materials. Wood logs are available in limited quantities and are often subject to environmental regulations, which can impact their presence.
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
Companies Mentioned in the Report
Arauco, Boise Cascade Company, Georgia-Pacific LLC, Gunnersen Pty Ltd., Kitiply Wood Products Co. Ltd., Lumbermens Merchandising Corporation (LMC), Roseburg Forest Products Company, Swanson Group Inc., Weyerhaeuser Company, Wilsonart International Inc.
World - Veneer Sheets - Market Analysis, Forecast, Size, Trends and Insights
EU - Veneer Sheets - Market Analysis, Forecast, Size, Trends and Insights
Asia - Veneer Sheets - Market Analysis, Forecast, Size, Trends and Insights
U.S. - Veneer Sheets - Market Analysis, Forecast, Size, Trends and Insights
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