FMI states in its recent study on the veneer-sheets that the market will record a CAGR of 2.3% by 2031. Demand for the veneer sheet is anticipated to continue surging due to the increasing investment in the tourism sector.
“With the intent of gaining an edge in a highly competitive veneer sheets market, manufacturers have been focusing on innovations and various expansion strategies.” says the FMI analyst.
Request a report sample to gain comprehensive market insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-4152
Veneer sheet Market – Important Highlights
- According to product type, wood-backed sheets are estimated to be highly sought after during the forecasted period.
- Paperbacked sheets are expected to gain traction during 2021-2031 on account of their durability.
- The construction sector will continue to be the prominent end-user of the veneer sheet.
- China is expected to lead the market in terms of sales during the projected years.
- India to exhibit a high market growth for veneer sheets during the upcoming years.
Veneer sheet Market – Drivers
- Rising urbanization in different parts of the world is creating demand for the construction industry for home décor is the key market diver for the veneer sheets.
- Government investment and rapid development of the tourism industry is contributing to the favorable market growth
- Increasing investment in the healthcare and education sector is likely to drive market growth during the forecast period.
Veneer sheet Market – Restraints
- Implementation of stringent regulations to minimize the harmful air pollutants coming from wood products is the key market restraint for
- veneer sheets.
- High production and finishing cost are likely to cause a hindrance to the growth of the market.
For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-4152
COVID-19 Impact on Veneer sheet Market
The veneer sheet market growth is anticipated to be hampered owing to the unprecedented COVID-19 pandemic With several end-users affected in regions like North America, Europe, and Asia-Pacific. therefore, it is anticipated that supply and demand dearth will result in a substantial drop in sales. however, the market is expected to set on a path of regaining as economies steadily stabilize.
The veneer sheet market players are leaning towards unique innovations besides opting for strategic collaborations to attain a competitive edge. For instance, Oakwood Veneer Companies have offered a vast range of veneer sheets designed exclusively for specific applications.
A few of the key companies functioning in the global market include
- GREENLAM INDUSTRIES LTD.
- Sauers & Company Veneers
- Oakwood Veneer Company
- Veneer Technologies, Inc
- FormWood Industries, Inc.
- Turakhia Overseas Pvt. Ltd.
- CEDAN INDUSTRIES
- CENTURY PLY, Ltd
- Herzog Veneers, Inc., Ltd
- SR Wood, Ltd
About the Study
The study offers readers a comprehensive assessment of the veneer sheet market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (Paper-Backed, Wood-Backed, Phenolic-Backed, Laid-Up, Others), Application(Commercial, Residential, and others) and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
Key Questions Answered in the Report
Q1. Which is the Most Lucrative Market for Veneer sheets?
China is the leading country in the global market for Veneer sheets. Sales in china will be over 24% of total demand throughout the forecast period.
Q2. Which are the top-selling Veneer sheets?
Wood-backed and paper-backed veneer sheets are highly sought-after. The demand for wood-backed and paper-backed veneer sheets is expected to remain high in the near future, especially due to their features such as durability, glossy finish, and smooth application.
Q3. Which end-use industry has been exhibiting high demand for veneer sheets?
Veneer sheets are widely used in construction projects across residential sector. Their usage in housing, and building & construction, interior designing is rising day-by-day.
Q4. Which are some of the leading companies providing Veneer sheets?
Some of the leading companies manufacturing Veneer sheets are GREENLAM INDUSTRIES LTD., Sauers & Company Veneers, Oakwood Veneer Company, Veneer Technologies, Inc and FormWood Industries, Inc.etc.
Q5. Which is more preferred Veneer sheets?
The paper backed veneer sheets are in high demand because they are comparatively more economical and durable.