Global Veneer Sheets Market, By Product (Paper Backed, Wood Backed, Phenolic Backed, Others), Application (Furniture Fitting and Lining, Boat Interior, Vehicle Interior, Landscaping, Others), End User (Commercial, Residential) – Industry Trends and Forecast to 2029
Market Analysis and Size
Veneer sheet has become the most extensively used surface material overall the globe. It is broadly used in residential and commercial buildings. Veneer is the finest expression of wood which needs less wood during manufacturing compared to other wood sheets. Veneer sheets are mainly used to enhance the artistic appeal to solid wood in making furniture, doors and architectural elements. Moreover, veneer sheet is genuine wood, multipurpose, long-lasting and provides living comfort.
Data Bridge Market Research analyses that the veneer sheets market was valued at USD 3,300 million in 2021 and is expected to reach USD 4692.93 million by 2029, registering a CAGR of 4.50 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Paper Backed, Wood Backed, Phenolic Backed, Others), Application (Furniture Fitting and Lining, Boat Interior, Vehicle Interior, Landscaping, Others), End User (Commercial, Residential)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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GREENLAM INDUSTRIES LTD. (India), Sauers & Company Veneers (U.S.), Oakwood Veneer (U.S.), Veneer Technologies (U.S.), FormWood Industries, Inc. (U.S.), Turakhia Overseas Pvt. Ltd. (India), CEDAN INDUSTRIES (Canada), CENTURYPLY (India), Herzog Veneers (U.S.), SR Wood, Ltd (U.K.), Pearlman Veneers (South Africa), Flexible Materials (U.S.), Samling Group (Malaysia), Samko Timber (Singapore)
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Market Opportunities
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Replacement of old plywood sheet
Increasing demand in automotive sector
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Market Definition
A veneer sheet refers to a thin slices of wood which are normally glued onto the plywood core panels. These slices are usually thinner than 3mm and can be cut as thin as 0.6mm. Veneer sheets are solid unattractive and look exotic and more expensive though only a thin sheet of expensive material in the form of veneer wrapped around it.
Veneer Sheets Market Dynamics
Drivers
- Ruing demand in construction industry
Veneer sheets are widely used in the construction industry to manufacture panelling, cladding and flooring. They enhance its aesthetics and impart a natural look to the structure. Veneer sheet are also used as a finishing material on floors, walls and ceilings. The rising demand of veneer sheet are expected to drive the market growth rate.
- High demand for natural veneer sheet
The environment-friendly nature often backs the huge demand for natural veneers. The natural veneer sheets are disposable and should be discarded after use. Natural wood veneers can be recycled after their useful life and converted into wood waste, which is then used to make MDFs. The higher demand for natural veneer sheet are expected to drive the targeted market.
Opportunities
- Replacement of old plywood sheet
The replacement of old sheets with veneer sheets is anticipated to lower at a massive rate. This will increase the opportunity for the veneer sheets manufacturers to rise the manufacturing scale. In the meantime,
Also, the use of veneer sheets in the automotive industry for flooring is another major factor which are expected to create beneficial opportunities for the growth of the veneer market globally.
Restraints/ Challenges
- Availability of alternatives
However, the availability of alternative of veneer sheets in flooring such as concrete slabs may be the major reason which will act as market restraints and further challenge the growth of the veneer sheets market during forecast period.
- High cost
The production of High-quality veneer sheets involves high finishing and production and finishing costs which will be expected to obstruct the growth of veneer sheets market during forecast period.
This veneer sheets market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the veneer sheets market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Veneer Sheets Market
COVID-19 pandemic has forced many industries in the veneer sheets market to shut down their business operations. The Pauses in the production of veneer sheet directly impact the revenue growth the veneer sheets market. The outbreak has caused interruptions in several construction projects due to disruption in supply. Disturbances in production process and delays in construction projects have led to decline in demand for veneer sheets. Moreover, the outbreak of covid-19 has negatively affected the construction of residential building
Global Veneer Sheets Market Scope
The veneer sheets market is segmented on the basis of products, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Paper Backed
- Wood Backed
- Phenolic Backed
- Others
Application
- Furniture Fitting and Lining
- Boat Interior
- Vehicle Interior
- Landscaping
- Others
End User
- Commercial
- Residential
Veneer Sheets Market Regional Analysis/Insights
The veneer sheets market is analysed and market size insights and trends are provided by country, products, application and end-user as referenced above.
The countries covered in the veneer sheets market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.
Asia-Pacific dominates the veneer sheets market in revenue and during the forecast period. This is due to the rising demand for veneer sheets in this region. The Asia-Pacific region leads the veneer sheets market, with India leading the way in terms of rise the demand in residential, leisure parks, retail, office, and hotel construction among others in this region.
During the projected period, South America is anticipated to be the fastest developing region due to the expansion of commercial and residential construction in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Veneer Sheets Market Share Analysis
The veneer sheets market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to veneer sheets market.
Some of the major players operating in the veneer sheets market are:
- GREENLAM INDUSTRIES LTD. (India)
- Sauers & Company Veneers (U.S.)
- Oakwood Veneer (U.S.)
- Veneer Technologies (U.S.)
- FormWood Industries, Inc. (U.S.)
- Turakhia Overseas Pvt. Ltd.(India)
- CEDAN INDUSTRIES (Canada)
- CENTURYPLY (India)
- Herzog Veneers (U.S.)
- SR Wood, Ltd (U.K.)
- Pearlman Veneers (South Africa)
- Flexible Materials (U.S.)
- Samling Group (Malaysia)
- Samko Timber (Singapore)
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