The global plywood market is predicted to grow substantially over the forecast period, owing to factors such as growth of end-use industries including construction, packaging, furniture, and others, together with rising applications of plywood as building materials on account of various excellent properties offered such as high strength, dimensional stability, high impact resistance, panel shear/braced panels shear, flexibility or bendability, water and chemical resistance, thermal and sound insulation, and others.
However, the shortage of raw materials
and skilled labor is projected to hinder growth of the plywood
market in the near future. As labor was cheaper earlier, the wood and
wood industry was developed using labor intensive production processes. According
to the International Labour Organization currently, due to low labor cost,
labor is no longer readily available and hence, many factories are running at
around 60% of their capacity.