COVID-19 IMPACT SURVEY MAY 2020
Amid the COVID-19 crisis and the looming economic recession, the Wood Panels market worldwide will grow by a projected 157.4 Thousand Cubic Meters, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 4.4%. Plywood, one of the segments analyzed and sized in this study, is forecast to grow at over 4.4% and reach a market size of 237.2 Thousand Cubic Meters by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Plywood market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 2.9% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over 3.9 Thousand Cubic Meters to the region's size over the next 7 to 8 years. In addition, over 4 Thousand Cubic Meters worth of projected demand in the region will come from Rest of European markets. In Japan, the Plywood segment will reach a market size of 10.3 Thousand Cubic Meters by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Wood Panels market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 8.3% over the next couple of years and add approximately 48.5 Thousand Cubic Meters in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Wood Panels market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others, Boise Cascade Company; Caledonian Plywood Company Ltd.; Canfor Corporation; Duratex SA; Fletcher Building Limited; FRITZ EGGER GmbH & Co. OG; Gascogne SA; Georgia-Pacific LLC; Kastamonu Entegre Agaç Sanayi ve Ticaret A.S.; Kronospan Limited; Mohawk Industries, Inc.; Norbord Inc.; Pfleiderer Group Spólka Akcyjna; PotlatchDeltic Corporation; Rougier S.A.; Sonae Indústria; Svenska Cellulosa Aktiebolaget; Tolko Industries Ltd.; UPM-Kymmene Oyj; West Fraser Timber Co. Ltd.