Softwood Veneer and Plywood Market Report 2026

The softwood veneer and plywood market size has grown strongly in recent years. It will grow from $93.49 billion in 2025 to $100.43 billion in 2026 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to expansion of residential construction, growth in commercial building projects, availability of plantation-grown softwood, rising demand for cost-effective building materials, advancements in wood processing techniques.

The softwood veneer and plywood market size is expected to see strong growth in the next few years. It will grow to $132.3 billion in 2030 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to increasing adoption of sustainable construction practices, rising demand for prefabricated building materials, expansion of green building certifications, growing use of engineered wood in infrastructure, technological improvements in veneer bonding processes. Major trends in the forecast period include increasing demand for engineered wood products, rising adoption of structural plywood solutions, growing use of certified sustainable wood, expansion of high-strength laminated products, enhanced focus on dimensional stability.

The growing building and construction industry is expected to propel the growth of the softwood veneer and plywood market going forward. The building and construction industry refers to the work of designing, building, and maintaining all types of structures and infrastructure. The growth in the building and construction industry is driven by rapid urbanization, which increases the demand for residential, commercial, and infrastructure development as more people move to cities. Softwood veneer and plywood play a beneficial role in the building and construction industry by providing strong, lightweight, and cost-effective materials for structural frameworks, flooring, roofing, and interior applications. For instance, in June 2024, according to a report published by TST Europe, a Switzerland-based manufacturing company, total construction spending in the U.S. rose to $1.98 trillion in 2023, marking a 7.4% increase compared to the previous year. Therefore, the growing building and construction industry is driving the growth of the softwood veneer and plywood market.

Major companies operating in the softwood veneer and plywood market are focusing on developing advanced solutions, such as bio-based adhesive technology, to enhance product sustainability, reduce environmental impact, and meet rising consumer and regulatory demands for non-toxic, eco-friendly building materials. Bio-based adhesive technology refers to making glue from natural, renewable materials such as plants, using safer and more environmentally friendly ingredients instead of harmful chemicals. For instance, in May 2025, Koskisen Oyj, a Finland-based manufacturing company, launched Zero ThinPly, a sustainable thin plywood product made without added formaldehyde, phenolic chemicals, or urea. It uses a bio-based adhesive developed in collaboration with Plantics, replacing traditional fossil-based glues. This launch aims to promote safer material use, support circular economy practices, and meet the growing market demand for environmentally responsible construction and furniture solutions.

In February 2024, Raute Corporation, a Finland-based company partnered with Paged Eesti OÜ to take over comprehensive maintenance, spare parts management, and development support for Paged Eesti’s plywood production machinery to improve operational efficiency and reliability. Through this collaboration, Raute assumed comprehensive responsibility for the maintenance, spare parts, consumables, and small development activities of Paged Eesti’s plywood production machinery, including the transfer of the mill’s maintenance personnel to Raute. With this agreement, Raute and Paged Eesti aim to enhance production reliability, operational efficiency, and lifecycle performance at the plywood mill, thereby supporting stable and efficient manufacturing of veneer and plywood products. Paged Eesti OÜ is an Estonia-based plywood manufacturer operating under the Paged Group, which produces veneer and plywood products, including softwood-based plywood, for furniture, construction, and industrial applications.

Major companies operating in the softwood veneer and plywood market are Georgia-Pacific LLC, Metsä Wood, Arauco, Tolko Industries Ltd., Murphy Company, Century Plyboards Limited, Timber Products Pvt. Ltd., Greenply Industries Limited, Jaya Tiasa Holdings Berhad, GREENPANEL INDUSTRIES LIMITED, Juken New Zealand Ltd., Archidply Industries Ltd., Hardel Mutual Plywood Corporation, UPM-Kymmene Corporation., Bydgoszcz Plywood Factory, Pacific Woodtech Corporation, Roseburg Forest Products Co., Shin Yang Group Berhad, Deluxe Plywood Pvt. Ltd., Murphy Company.

North America was the largest region in the softwood veneer and plywood market in 2025. The regions covered in the softwood veneer and plywood market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the softwood veneer and plywood market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The softwood veneer and plywood market consists of sales of film-faced plywood, veneer core panels, sheathing plywood, plywood underlayment, and pressure-treated plywood. Values in this market are ‘factory gate’ values; that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.