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IBISWorld Updates Research Report on Australia’s Plywood, Veneer and Fabricated Wood Market

The Australian Plywood, Veneer and Fabricated Wood industry is dependent on the demand generated by the downstream industries such as residential and commercial construction segments.

Alen Allday, IBISWorld industry analyst, pegs the 2011-12 industry revenue at $1.67 billion. This is a reduction in revenue by 2.6% and is attributed to falling construction activity in 2011-12. Over the past five years leading up to 2012, the industry is assessed to have fallen at an annualized rate of 1.8%. Demand and the First Home Owner Grant fuelled residential construction activities in 2006-07 and 2007-08. During the same period, there was rapid boost in commercial construction activity. Industry output in the subsequent period of 2008-09 declined due to fall in construction activity. Prices and low output pushed the industry revenue down in 2009-10 inspite of an increase in construction activity. Since the construction sector augmented inventory levels in 2010-11, the industry revenue perked up during this period. However, construction activities remained on the lower side in 2011-12. This coupled with decline in furniture manufacturing over the years has resulted in decreased revenue. The industry output is expected to increase in the next five years leading to 2017. Growth prospects in 2013-14 are an indication of revenue increase. Demand for the industry’s products is influenced by economic conditions and interest rates.

The market share concentration of the industry has increased owing to the expansion activities of the bigger players. This is set to increase further as some of the major players are expected to merge and other firms like exporting companies are envisaged to depart from the industry. The four major players in the industry are Building Supplies Group Holdings, Fletcher Building, Gunns and Boral.

Source: http://www.ibisworld.com.au/

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