Veneer Sheets Market Size Worth $64.26 Billion by 2033; Government’s Initiatives Towards Renovating Historical Places to Propel Growth

Veneer Sheets market size from USD 46 Billion in 2023 to USD 64.26 Billion in 10 years. Increasing growth in the construction industry will drive the Veneer Sheets market’s growth in the period forecasted.

Newark, Feb. 27, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 46 Billion Veneer Sheets market will reach USD 64.26 Billion by 2033. Veneer Sheets being a substitute for natural Plywood sheet. Increased government and regulatory bodies’ initiatives for renovating historical places and restoring the sites will lead to growing adoption of Veneer Sheets in the market, which in turn may propel the growth of the Veneer Sheet in the Market is one of the major factors that may propel the growth of the Veneer Sheets in the market.

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Key Insights on Veneer Sheets Market

Asia Pacific to account for the largest market size during the forecast period accounting for 32.3% of the total market. Whereas North America is expected to be the fastest-growing region in the period forecasted.

APAC emerged as the largest market for the global Veneer Sheets market, accounting for 32.3% of the total market. Owing to increasing demand from the construction sector (in the construction of residential and commercial buildings). Whereas, North America emerged as the fastest-growing sector in the region, owing to the rising demand for hotels, parks, and other play areas in the region.

Wood-Backed segment has dominated the market with the most significant market thereby acquiring 37% of the market share in 2023.

Wood-backed dominates the Veneer Sheets type and continues to be the fastest-growing segment, thereby accounting for more than 37% of the market share in the global world. Owing to the wide availability of resources in the making of Wood-Backed Veneer Sheets. Additionally, the increasing use of Wood-Backed sheets across a variety of applications has also propelled the growth and dominance of the Wood-Backed in the Veneer Sheets segment.

Residential segment dominated the market, accounted for the largest share of the market, with a market share of 67.45% in the year 2023.

Residential segment has dominated the Veneer Sheets Market and it continues to be the fastest-growing segment in the market, thereby accounting for 67.45% of the market share across the globe. This share is mainly attributed to the increasing use of the Veneer Sheets in hosing, innovation/renovation, and refurbishing in the market.

Report Scope and Segmentation –

Report Coverage Details
Forecast Period 2024-2033
Forecast CAGR 3.4%
2033 Value Projection USD 64.26 Billion
Market Size in 2023 USD 46 Billion
Historical Data 2020-2022
No. of Pages 238
Report Coverage Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered by Type, End-user industry, Regions
Regions Covered The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Veneer Sheets Market Growth Drivers Increasing growth in the construction industry

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Latest Development:

In 2023, Certainly Wood launched 2 full-length veneers. The major objective behind this launch was to create long and wide display surfaces. Further, this launch provides a wide range of exotic colors, wide varieties and other options to choose from

In 2021, Oakwood Corporation underwent a technological breakthrough by updating its website to a more user-friendly interface. Additionally, it also expanded its product portfolio base of online ordering options for its customers. Further, this online ordering helps customers to order online Veneer machine tools with ease.

Market Dynamics

Drivers: Increasing growth in the construction industry

Rapid growth in the construction industry is the major propelling factor boosting the growth of the Veneer Sheets Market. Increasing use of Veneer Sheets in the construction activity in the Residential and Commercial sector helps towards the growth of the Veneer Sheets Market in the long run.

Restraint: High cost associated with Veneer Sheets

Veneer Sheets are slim wood slices that are usually priced higher than its other substitutes (laminates, Plywood). Owing to this it is usually priced higher in the market. Thereby making the product less accessible to its customers. Thus, the higher cost associated with Veneer Sheets is one factor that may hamper the growth of the Veneer Sheets in the market.

Opportunity: Rising Government Initiatives Towards Veneer Sheets Market

Increased government and regulatory bodies’ initiatives for renovating historical places and restoring the sites will lead to growing adoption of Veneer Sheets in the market, which in turn may propel the growth of the Veneer Sheet in the Market.

Challenge: Availability of alternatives

One major factor that is a big challenge for the Veneer Sheets Market is the availability of Veneer Sheets altenative, owing to higher prices of Veneer Sheets and unaffordability of the same by the End-Users. Consumers are likely to shift to its substitutes, such as Plywood and other Laminates. Which in turn poses a great challenge in the Veneer Sheets Market in the long run.

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Some of the major players operating in the Veneer Sheets market are:

• Greenlam Industries Ltd
• Sauers & Company Veneers
• Oakwood Veneer
• Veneer Technologies
• Formwood Industries Inc
• Turakhia Overseas Pvt Ltd
• Cedan Industries
• Centuryply
• Herzog Veneers
• SR Wood Ltd
• Disperator AB

Key Segments cover in the market:

By Type:

• Paper-Backed
• Wood-Backed
• Phenolic-Backed
• Laid-Up
• Others

By End-User:

• Commercial
• Residential

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About the report:

The global Veneer Sheets market is analysed based on value (USD trillion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.

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