Plywood industry poses significant potentials

Ashfaque Choudhury : Bangladesh is a country that has been experiencing rapid economic growth in recent years, and the plywood industry is one of the many industries that have been contributing to the economic growth.
Plywood is an engineered wood by-product made by gluing layers of veneer or thin sheets of wood together. It is a versatile and durable material widely used in construction, furniture, and packaging.
The plywood industry in Bangladesh has been growing at a steady pace in recent years. This is mainly due to the increasing demand for housing and furniture and the growing construction industry in the country.
The government of Bangladesh has also been supportive of the industry, providing various incentives and subsidies to encourage growth and development.
There are many small-scale plywood manufacturers in Bangladesh, but a few large-scale companies dominate the market.
These companies use modern technology and sophisticated machinery to produce high-quality plywood products. They also import raw materials, such as veneers and adhesives, from countries such as China, India, and Malaysia.
In 2022, China constituted the largest plywood supplier to Bangladesh, with a 90% share of total imports.
Moreover, plywood imports from China exceeded the figures recorded by the second-largest supplier, India, more than tenfold.
According to industry insiders, despite the growth of the plywood industry in Bangladesh, some challenges still need to be addressed. One of the biggest challenges is the shortage of raw materials, which puts pressure on the industry and drives up plywood product prices. Another challenge is the need for more trained personnel in the industry, which makes it difficult for companies to keep up with the increasing demand for their products.
Despite these challenges, the future of the plywood industry in Bangladesh looks bright. The country has a large population and a growing middle class, which drive demand for housing and furniture. The government is also improving infrastructure and encouraging foreign investment, which will create more opportunities for the industry to grow.
The plywood industry in Bangladesh is a growing industry with significant potential. The government and the private sector are working together to overcome the industry’s challenges and ensure its continued growth. With its large population, growing middle class, and supportive government, the future of the plywood industry in Bangladesh looks bright, and it is poised to play an essential role in the country’s economic development.