India Plywood Market

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India Plywood Market, By Product Type (Hardwood Plywood, Softwood Plywood, Sanded Plywood, Structural Plywood); By Sector (Organized, Unorganized); By Application (Residential, Commercial); By Use Type (New Construction, Replacement); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

  • Published Date: November 2023
  • Report ID: BWC23896
  • Available Format: PDF
  • Page: 200

Report Overview

Changing interior design trends and a high demand for plywood from the increasing number of construction projects across the country are projected to propel the expansion of the India plywood market during the forecast period between 2023 and 2029.

India Plywood Market - Industry Trends & Forecast Report, 2029

India plywood market size was estimated at USD 1.56 billion in 2022. During the forecast period between 2023 and 2029, the size of India plywood market is projected to grow at a CAGR of 6.34% reaching a value of USD 2.25 billion by 2029. Major growth drivers for the India plywood market include an increasing demand for plywood and rising number of distribution networks and exclusive outlets of premium furniture manufacturers. The growing integration of advanced production methods, leading to the manufacture of innovative plywood types like flexible plywood, is propelling the market's expansion. The surging utilization of plywood for partitions and false ceilings in residential and office spaces is offering a promising market outlook. In addition, the market is benefiting from the increasing use of plywood in crafting lightweight, easy-to-assemble furniture. The rising popularity of plywood in DIY (do-it-yourself) projects, where it can be easily customized through drilling, shaping, and cutting, is also supporting its growth. Government housing schemes, infrastructural projects, and the ever-increasing pace of urbanization are further boosting the market. Also, the growing preference for unique interior design accents, driven by the increasing number of renovation and infrastructure development activities among homeowners, is catalyzing the demand for plywood in India.

India Plywood Market

Plywood – Overview

Plywood, a versatile construction material, is crafted by bonding thin layers of wood veneer with robust adhesives. This composite material can incorporate softwoods, hardwoods, or a combination of both sourced from various wood species like maple, mahogany, oak, pine, cedar, spruce, and teak. Plywood is commercially available in various types, including tropical, aircraft, decorative, flexible, and marine plywood, making it suitable for a wide range of applications. Its adaptability to various interior design aesthetics is one of its key strengths. Moreover, plywood is known for its cost-effectiveness and precision in dimensions, remaining resistant to warping and damage from fluctuations in humidity. This material finds extensive use in the manufacturing of furniture, including tables, chairs, shelves, cabinets, sofa frames, beds, and stools. Plywood also plays a crucial role in constructing molds for concrete structures and serves decorative purposes, such as cladding for both interior and exterior cabinets, shelves, and storage spaces. Its high tensile strength has made it a preferred choice for creating false ceilings, contributing to the increasing demand for plywood in the Indian market.

India Plywood Market

Growth Drivers

Increasing Focus on Infrastructure Development

The landscape of India is undergoing a significant transformation marked by the ongoing surge in infrastructure development. This progress is characterized by a thriving construction industry and the swift urbanization taking place across the nation. Government initiatives like Pradhan Mantri Awas Yojana, DDA Housing Scheme, and NTR Housing Scheme are actively driving housing projects, providing a strong foundation for infrastructure growth. Plywood has emerged as a crucial component in this development, thanks to its attributes such as stiffness, strength, dimension stability, durability, and versatility, making it an ideal choice for various structural applications. Furthermore, continuous investments in research and development activities are continually improving the quality and performance of plywood, aligning it with the demands of modern infrastructure projects. This escalating trend of increasing infrastructure development not only holds the promise of economic growth but also shapes the future of India's urban landscape.


Price Volatility

Fluctuating plywood price is a significant restraint for the growth of India plywood market. This instability in pricing can create challenges and uncertainties for both manufacturers and consumers in the market. Plywood is influenced by the costs of raw materials, production processes, and market dynamics, making its pricing subject to fluctuations. Such volatility can impact budgeting and planning for construction and infrastructure projects, as well as consumer decisions regarding furniture and interior design. Moreover, unexpected price increases may lead to higher construction costs, affecting the viability of projects and reducing consumer affordability. It is imperative for the industry to address this issue and implement strategies to mitigate the impact of price volatility on the India Plywood Market's overall growth and stability.

Impact of COVID-19 on India Plywood Market

COVID-19 pandemic had a mixed impact on the India plywood market. Lockdowns, supply chain disruptions, and reduced economic activity hindered production and distribution, causing delays and increased costs. The construction industry, a major plywood consumer, faced setbacks due to project delays and labor shortages. However, the pandemic also accelerated the adoption of e-commerce and digital platforms for buying plywood. As restrictions eased, the market witnessed a rebound in demand, driven by the increasing need for home renovations and the housing sector's recovery. Overall, while COVID-19 presented initial challenges, it also pushed the industry toward innovation and digitalization, reshaping market dynamics.

India Plywood Market

Segmental Coverage

India Plywood Market – By Product Type

Based on product type, the India plywood market is divided into Hardwood Plywood, Softwood Plywood, Sanded Plywood, and Structural Plywood segments. The softwood plywood segment holds the highest share in the India plywood market by product type and is expected to maintain its dominance throughout the forecast period. Softwood plywood, typically sourced from coniferous trees like pine and spruce, offers a balance of strength, affordability, and availability. It is widely used in various construction and structural applications due to its structural integrity and cost-effectiveness. As India continues to experience rapid urbanization and infrastructure development, the demand for reliable and economical construction materials remains high. Softwood plywood, meeting these requirements, is expected to maintain its lead in the market, especially in projects where structural stability is paramount, ensuring its continued dominance throughout the forecast period.

India Plywood Market – By Sector

Based on sector, the India plywood market is bifurcated into Organized and Unorganized segments. The unorganized sector holds a higher share in the India plywood market. The unorganized sector often offers more affordable plywood products, making them accessible to a wide range of consumers, particularly in price-sensitive segments. Additionally, the unorganized sector is deeply rooted in local and regional markets, providing a personalized approach and catering to specific regional demands. While the organized sector may offer premium quality and standardized products, the unorganized sector's ability to address the diverse and price-conscious Indian market ensures its continued dominance in the plywood sector during the forecast period.

India Plywood Market SIze

India Plywood Market – By Application

Based on application, the India plywood market is split into Residential and Commercial segments. The residential segment is expected to hold a higher share in the India plywood market by application during the forecast period. It can be primarily due to the consistent growth of residential construction and real estate sectors in India. The increasing urbanization and population have led to a greater demand for housing, both in terms of new construction and renovation. Plywood is a crucial material for various residential applications, including furniture, cabinets, flooring, and interior decor. Moreover, the trend of customized and aesthetically pleasing interiors in homes has increased the demand for plywood, making it a dominant segment in the Indian plywood market.

India Plywood Market Share

India Plywood Market – By Use Type

Based on use type, the India plywood market is divided into New Construction and Replacement segments.  

India Plywood Market – By Region

Regionally, the India plywood market is divided into North India, South India, East India, and West India.

Competitive Landscape

Major players operating in the India plywood market include Archid Ply, Austin Ply, Century Plywood, Duro Ply, Gattani Plywood, Green Ply, Green Panel, Kajaria Ply, Kit Ply, Merino Industries Limited, Oswin Plywood Prestige Ply, Saburi Ply, Trojan Ply, and Uni Ply. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In September 2023 - Greenply Industries Ltd announced substantial investments in its manufacturing units, focusing on capacity expansion. The company allocated INR 100 crore for a furniture hardware plant and INR 600 crore for an MDF plant in Gujarat, along with another INR 100 crore for a plywood factory in Uttar Pradesh. The company also established a 50:50 joint venture with Turkish brand Samet BV, investing INR 200 crore in a plant in Vadodara, Gujarat, to manufacture and sell functional furniture hardware.

Scope of the Report




Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period – 2023–2029

Facts Covered

Revenue in USD Billion

Market Coverage


Product/ Service Segmentation

Product Type, Sector, Application, Use Type, Region

Key Players

Archid Ply, Austin Ply, Century Plywood, Duro Ply, Gattani Plywood, Green Ply, Green Panel, Kajaria Ply, Kit Ply, Merino Industries Limited, Oswin Plywood Prestige Ply, Saburi Ply, Trojan Ply, Uni Ply


By Product Type

  • Hardwood Plywood

  • Softwood Plywood

  • Sanded Plywood

  • Structural Plywood

By Sector

  • Organized

  • Unorganized

By Application

  • Residential

  • Commercial

By Use Type

  • New Construction

  • Replacement

By Region

  • North India

  • South India

  • East India

  • West India

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. India Plywood Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Infrastructure development
        2. Interior design trends
      2. Restraints
        1. Price volatility
        2. Environmental concerns
      3. Opportunities
        1. Innovations and development of eco-friendly plywood materials
        2. Export potential
      4. Challenges
        1. Competition
        2. Quality control
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. India Plywood Market Overview
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
        1. Hardwood Plywood
        2. Softwood Plywood
        3. Sanded Plywood
        4. Structural Plywood
      2. By Sector
        1. Organized
        2. Unorganized
      3. By Application
        1. Residential
        2. Commercial
      4. By Use Type
        1. New Construction
        2. Replacement
      5. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  5. Competitive Landscape
    1. List of Key Players and Their Range
    2. India Plywood Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership)
  6. Impact of Covid-19 on India Plywood Market Industry
  7. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, SWOT Analysis)
    1. Archid Ply
    2. Austin Ply
    3. Century Plywood
    4. Duro Ply
    5. Gattani Plywood
    6. Green Ply
    7. Green Panel
    8. Kajaria Ply
    9. Kit Ply
    10. Merino Industries Limited
    11. Oswin Plywood Prestige Ply
    12. Saburi Ply
    13. Trojan Ply
    14. Uni Ply
    15. Other prominent players
  8. Key Strategic Recommendations
  9. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents
    5. Assumption & Limitation

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.


List of Figures


Figure 1       India Plywood Market Segmentation

Figure 2       India Plywood Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2021

Figure 4       India Plywood Market Size, By Value (USD Million), 2019–2029

Figure 5       India Plywood Market Share, By Product Type, By Value, 2019–2029

Figure 6       India Plywood Market Share, By Sector, By Value, 2019–2029

Figure 7       India Plywood Market Share, By Application, By Value, 2019–2029

Figure 8       India Plywood Market Share, By Use Type, By Value, 2019–2029

Figure 9       India Plywood Market Share, By Region, By Value, 2019–2029


List of Tables      


Table 1        India Plywood Market Share, By Product Type, By Value, 2019–2029

Table 2        India Plywood Market Share, By Sector, By Value, 2019–2029

Table 3        India Plywood Market Share, By Application, By Value, 2019–2029

Table 4        India Plywood Market Share, By Use Type, By Value, 2019–2029

Table 5        India Plywood Market Share, By Region, By Value, 2019–2029

Table 6        Archid Ply Company Overview

Table 7        Archid Ply Financial Overview

Table 8        Austin Ply Company Overview

Table 9        Austin Ply Financial Overview

Table 10      Century Plywood Company Overview

Table 11      Century Plywood Financial Overview

Table 12      Duro Ply Company Overview

Table 13      Duro Ply Financial Overview

Table 14      Gattani Plywood Company Overview

Table 15      Gattani Plywood Financial Overview

Table 16      Green Ply Company Overview

Table 17      Green Ply Financial Overview

Table 18      Green Panel Company Overview

Table 19      Green Panel Financial Overview

Table 20      Kajaria Ply Company Overview

Table 21      Kajaria Ply Financial Overview

Table 22      Kit Ply Company Overview

Table 23      Kit Ply Financial Overview

Table 24      Merino Industries Limited Company Overview

Table 25      Merino Industries Limited Financial Overview

Table 26      Oswin Plywood Prestige Ply Company Overview

Table 27      Oswin Plywood Prestige Ply Financial Overview

Table 28      Saburi Ply Company Overview

Table 29      Saburi Ply Financial Overview

Table 30      Trojan Ply Company Overview

Table 31      Trojan Ply Financial Overview

Table 32      Uni Ply Company Overview

Table 33      Uni Ply Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: India Plywood Market size was estimated at USD 1.56 billion in 2022.
Ans: Major factors driving the growth of the India Plywood Market include an increasing infrastructure development and rising interior design trends.
Ans: Key players in the India Plywood Market include Archid Ply, Austin Ply, Century Plywood, Duro Ply, Gattani Plywood, Green Ply, Green Panel, Kajaria Ply, Kit Ply, Merino Industries Limited, Oswin Plywood Prestige Ply, Saburi Ply, Trojan Ply, and Uni Ply.
Ans: The softwood plywood segment holds the highest market share in the India Plywood Market by product type.
Ans: The unorganized sector accounts for a higher market share in the India Plywood Market.