Page 11 - FDMAsia May/Jun 2026

MARKET BEATS 9
www.fdmasia.com | FDM ASIA MAY/JUN 2026

The development of infrastructure in
real estate, hospitality, and offices has Joseph Abbott
further aided market growth. Furthermore,
technological developments in cutting
and bonding processes have improved
the quality and design of veneer sheets.

However, some restraints may act as
barriers to growth, such as changes in
price levels and lack of quality timber
sources as raw materials.
Environmental laws governing deforestation
activities lead to shortages in raw material
supply. Transportation issues add to
rising manufacturing costs.
The presence of competing man-made

options also lowers demand for veneer
sheets. Processing costs and reliance
on trained manpower are other factors
which hamper expansion for smaller Paper-backed veneers and furniture accounted for the largest portion of the
manufacturers. manufacturing accounted for the market in 2025 with a 41.87 percent
Numerous opportunities exist due to largest portion share, as veneer sheets serve a primary
the rising use of sustainable construction Paper-backed veneer sheets emerged role to obtain natural wood look and

materials and environmentally friendly as the leader with a market share of feel at affordable material costs across
interior decoration styles. 34.26 percent, owing to their appeal both mass-market and premium furniture
Growing remodelling and renovation of based on convenience of use, ability products—whether in cabinets, wardrobes,
both domestic and commercial structures to provide flexible designs, and high tables, or modular furniture.
will lead to high demand for decorative adaptability in mass production operations Flooring and other applications are
surfaces. Innovative technologies like of furniture panels. predicted to witness the fastest CAGR
digital printing and engineered veneers Engineered and reconstituted veneer of 5.80 percent from 2023 to 2035,
facilitate personalised designs, which sheets were estimated to have a fast attributed to increasing requirement for
will attract more consumers. growth rate of 6.39 percent in terms decorative wood-surfaced flooring in

Fast-paced construction activities in of CAGR up to 2035, on account of residential renovations over the next few
developing nations and the hotel and increasing demand for standardised years, as well as luxury hospitality and
property industries will generate more design quality and better wood resource premium commercial interior projects
growth opportunities. Moreover, a growing management—usually unachievable through wherein veneer-finished engineered wood
emphasis on light and economical products the supply chain complexities associated products can represent a cost-effective
will offer substantial growth opportunities with exotic tropical wood. alternative to solid hardwood flooring
for companies in the coming years. Besides, furniture manufacturing installations.