Veneer sheets are thin slices of wood that are used to cover surfaces of furniture, cabinets, and other objects. They are typically made by slicing a log or a piece of lumber into thin sheets using a specialized machine, and then gluing these sheets onto a substrate such as particleboard or plywood.
Veneer sheets are prized for their beauty and versatility. Because they are made from real wood, they offer the same natural grain patterns and textures that solid wood does, but at a much lower cost. They also allow manufacturers to use exotic or rare woods in their products, which may not be practical or affordable to use in solid form.
However, veneer sheets are not as durable as solid wood, and they can be prone to chipping or peeling if not properly cared for. They are also not suitable for outdoor use, as exposure to moisture and sunlight can cause them to warp or fade over time.
According to FMI analysis, the global veneer sheets market is anticipated to rise at a CAGR of 2.3% from 2021 to 2031, reaching a market value of US$ 41,163 Mn.Although the market for veneer sheets is anticipated to grow steadily, the COVID-19 pandemic is anticipated to have a significant impact on the pattern of short-term demand. The COVID-19 epidemic has also forced manufacturers to review their expansion plans in order to guarantee consistent growth in the near future.
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Also, delays caused in building projects and manufacturing process have contributed to a decline in demand for sheets of veneer. Nonetheless, with economies returning to normalcy post extended lockdown period, sales of veneer sheets are expected to pick up, especially in the residential sector, which has also been identified as leading end-use in the report. FMI has predicted it to account for nearly 65.5% of the market in 2021.
Key Takeaways from Veneer Sheets Market Study
- Veneer sheet market will pick up pace post decline registered in 2020. FMI has projected the market to record 1.5% Y-o-Y growth in 2021
- The U.S. will continue leading the market in North America, accounting for 80.9% share in 2021
- The U.K. is projected to record growth at 1.0% in 2021
- Germany and France will remain key markets for veneer sheets in Europe
- Germany and France will continue exhibiting high demand, with Germany forecast to remain dominant in Europe through 2031
- Japan and South Korea to remain lucrative markets in East Asia. Among these countries, South Korea will exhibit high growth over the forecast period
“Product differentiation is one of the key strategies adopted by the market players. They are focusing on introducing a wide range of veneer sheets, designed keeping in mind specific applications as per consumer requirement,” said a lead FMI analyst.
Veneer Sheets Market: Participant Insights
Some of the leading companies operating in veneer sheets market are GREENLAM INDUSTRIES LTD., Sauers & Company Veneers, Oakwood Veneer Company, Veneer Technologies, Inc, FormWood Industries, Inc., Turakhia Overseas Pvt. Ltd., CEDAN INDUSTRIES, CENTURYPLY, Ltd, Herzog Veneers, Inc., Ltd, SR Wood, Ltd, Pearlman Veneers and Flexible Materials Incorporated. These companies are focusing on strengthening their product portfolio and expanding their market footprint through acquisition of smaller companies in the market.
To Know More about Veneer Sheets Market
A new market research report published by Future Market Insights (FMI) on the global Veneer Sheets market report offers in-depth insights into the market demand trends and assessment of opportunities during the forecast period. The report analyses the Veneer Sheets market through three different segments- product type, end-use, and region. The Veneer Sheets report also offers detailed analysis of pricing analysis by different product types demand across various end-use industries, and patent analysis in the market.
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Key Segments
Product Type:
- Paper-Backed
- Wood-Backed
- Phenolic-Backed
- Laid-Up
- Others
End Use:
- Commercial
- Residential
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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