Global formwork plywood market is now hotter than ever with increasing demands from mostly North America.
With house prices increasing sharply and fewer house owners want to sell, the need for construction is rising rapidly. Therefore, formwork plywood is susceptible to increasing demand and move into supplier market.
There are 3 big area of supply: Europe, Asia, and South America.
South American plywood market provides mostly MDO plywood for construction purposes. These plywood are coated with high density overlay to withhold forces and make concrete surface matte.
Big players in Russia like Sveza have increased their formwork plywood prices more than 100%, while Asian plywood have risen on average from 5-10%. In Vietnam, big players like VINAWOOD and Tekcom also have increased their plywood prices to about 5-10% compared to last year. This is mostly due to heavy demand in North America, which lead to higher demand for good quality raw materials, and higher prices.
Suppliers also face higher price pressure from plastic market which is main ingredient of plywood adhesives.
With China's much less focus on plywood industry, Vietnam stands out as the next big global player of plywood with many outstanding suppliers.