MARKET OVERVIEW

The Vietnam plywood market size reached USD 200.80 Million in 2024 and is forecasted to attain USD 298.92 Million by 2033. The market is estimated to grow at a CAGR of 4.52% during the forecast period 2025-2033. Growth is driven by rising export-oriented production complemented by increasing government spending on infrastructure like roads, bridges, and airports, which boost the demand for strong, lightweight, and easy-to-handle plywood.

STUDY ASSUMPTION YEARS

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

VIETNAM PLYWOOD MARKET KEY TAKEAWAYS

• Current Market Size: USD 200.80 Million in 2024
• CAGR: 4.52% (2025-2033)
• Forecast Period: 2025-2033
• Vietnam shipped 1,890,872 consignments of plywood from Nov 2023 to Oct 2024, mainly to the US, Japan, South Korea, and the EU.
• Export-oriented production encourages use of certified and eco-friendly wood.
• Infrastructure investments include roads, bridges, airports, industrial parks, schools, and hospitals driving plywood demand.
• The construction industry in Vietnam is expected to grow by 6% in 2025.
• The report includes competitive analysis and detailed company profiles.

Sample Request Link: https://www.imarcgroup.com/vietnam-plywood-market/requestsample

MARKET GROWTH FACTORS

Additional factors that expand the market for plywood are exports from Vietnam. Vietnam exported 1,890,872 lots of plywood from November 2023 to October 2024. The United States, Japan, South Korea, and the EU received most of it. Manufacturers have competition, labour with skill, and provide raw materials with stability, so they invest in the latest machinery and assure quality for meeting export standards. This has increased capacity in addition to improved quality and encouraged using certified, eco-friendly wood.

Infrastructure development is one of the main driving forces in the growth of the market. Investments by governments for the construction of roads, bridges, airports, industrial parks, schools, and hospitals drive the demand for plywood owing to its properties such as strength, lightweight, and ease of handling. On account of its relative low cost and reusability, plywood is used for formwork for casting concrete, temporary construction work, scaffolding, wall panels, and flooring for large-scale industries.

Urbanization, transport and utility infrastructure development, industrial areas and public facility construction in Vietnam offer good construction growth prospects and create orders and long-term contracts for private investors for plywood manufacturers. Expanded logistics will improve regional product distribution efficiency and help sustain plywood production in Vietnam where the construction sector is forecast to expand by 6% in 2025.

MARKET SEGMENTATION

Application Insights

• Residential: Involves the use of plywood in residential construction applications.
• Commercial: Covers plywood usage in commercial building projects.

Sector Insights

• New Construction: Relates to plywood demand from new construction projects.
• Replacement: Pertains to plywood used in replacement or renovation activities.

Regional Insights

• Northern Vietnam: Key regional market segment covering the northern part of the country.
• Central Vietnam: Represents the central region's plywood market.
• Southern Vietnam: Includes market activities in southern Vietnam.

REGIONAL INSIGHTS

The report identifies Northern Vietnam, Central Vietnam, and Southern Vietnam as the major regional markets for plywood. Specific dominant region data or exact market shares are not provided in the source. Each region contributes to the overall market growth fueled by local construction and infrastructure development.

RECENT DEVELOPMENTS & NEWS

In March 2025, Hoa Phat expanded into high-quality flooring plywood manufacturing to diversify its product range, targeting local and international markets. It plans to allocate 20% of plywood production for the container segment and 80% for high-end products, aspiring to be among Vietnam’s top three flooring producers by 2030. Additionally, in March 2025, Vietnam’s Trade Remedies Authority advised companies to diligently monitor plywood export/import to prevent illegal transhipment and false origin claims, allowing qualified exporters a self-certification process to avoid trade measures.

KEY PLAYERS

• Hoa Phat Group
• Not provided in source other company names

Customization Note

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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