Coid-19 outbreak happenned in China in January 2020. The quarantine policy has slowed down the plywood production after Chinese New Year.
Most plywood factories in China started to run in March and made deliveries to customers. Right now the productions are normal and there is no sign of shutting down because of the coronavirus.
Plywood Market May Shrink in 2020
More and more countries are shutting down business and other activities. People will consume less and construction activity is more less right now. This certainly harm the market of plywood board.
China and the Unites States is the largest two consumers of plywood in the world.
China’s real estate market is shrinking. This leads to less consumption of formwork plywood and furniture plywood. The antidumping tax on Chinese cabinets also reduce the use of plywood in the furniture industry.
United States is going through the covid-19 and it may last two months. A huge mount of building materials are in stock. Business are waiting for the disease to vanish.
Plywood Business May Boom After The Crisis
We are a major economy crisis in 2020. As mentioned above, plywood consumption is becoming less than before. However, there is a big chance that many countries will boost econony by investing in infrastructure and construction which is the main market for plywood.
It is time for the manufacturers to improve their production and quality. There will be higher competition as the market shrink. Only the best quality plywood can prevail in the end.