According to a new report from IndexBox,, the hardwood veneer and plywood market in the U.S. stood at $4.9 billion in 2019, which was 9.1 percent less than the year before.
This figure reflects the total revenue of producers and importers (excluding logistics costs, taxes, and tariffs, which will be included in the final consumer price). Over the last five years, it increased gradually, driven by rising construction.
In physical terms, the market volume reached approx. 6.9M cubic meters, declining by 3.3 percent. The decrease in market volume was caused, on the one hand, by the slowdown in the U.S. economy in 2019, and, on the other hand, by a sharp drop in the volume of imports from China due to the introduction of anti-dumping duties, which could not be immediately replenished by domestic producers and suppliers from other countries.
Plywood is one of the basic materials widely used in construction, and, to a lesser extent, in industry. Therefore, the key factor determining the development of the plywood market is the dynamics of construction, which, in a broader context, reflects the overall GDP growth.
Also, the number of building permits increased steadily, with single-family premises posting the most prominent growth. Those factors were driving the market over the period under review.