Market Dynamics
The outlook for the UK plywood market appears quite positive for the next few years. The country has witnessed a steady growth in the demand for plywood from both the residential and non-residential sectors over the last few years. This trend is expected to continue in the coming years as well. The main drivers behind the growth of the UK plywood market in 2018 are expected to be the increasing demand for interior and exterior applications including furniture, flooring, wall partitions, roofing and cladding materials. The increasing emphasis on sustainability is likely to drive greater demand for plywood as it is made from renewable plantation timber source. Besides, increasing adoption of new technological advancements, such as bent plywood, added with the growing preference for low cost home improvement options, are some of the other major trends expected to drive the demand for plywood in the country. In terms of production, the majority of the plywood produced in the UK are softwood plywood. The increasing popularity of softwood plywood is primarily due to its greater cost effectiveness and sturdiness. Softwood plywood is also relatively easier to shape and is stronger, lighter and more attractive than other wood sheet materials.
Moreover, it is also resistant to weather extremes, making it suitable for various types of construction projects as well as other engineering works. The government initiatives to promote externalisation of timber cladding and other related products are expected to boost the demand for plywood in the UK else. In addition to this, the growing preference for smart and durable home design is likely to drive the demand for plywood. Overall, the demand for plywood in the UK is expected to remain strong over the next few years. Long term, the growth of the plywood market in the UK is projected to remain positive, with increasing demand from the residential and non-residential sector as the prime areas of growth. Additionally, the development of new products, such as curved plywood and bent plywood, can provide additional impetus to the sector’s long-term growth.
