According to the statistics from the Academy of Industry Development and Planning under the National Forestry and Grassland Administration (NFGA) and the China Forestry Products Industry Association (CFPIA), the number of plywood enterprises has declined but in terms of production capacity there was an increase.

There were more than 6,020 plywood manufacturing enterprises in 2024, down 19% year on year. The total annual production capacity was 221 million cubic metres in 2024, up 8% on 2023 level.

At the beginning of 2024 around 1,500 plywood mills were under construction nationwide with a total extra annual production capacity of about 29 million cubic metres. It is expected that the total annual production capacity of plywood in China will drop to 200 million cubic metres by the end of 2025.

At present, the overall capacity of China's plywood industries is greater than consumer demand. The production capacity of plywood for furniture making and home decoration accounts for about 36% of the total production capacity.

Plywood for concrete formwork accounts for about 27% of the total production and the oversupply of production capacity is still prominent. The production capacity of plywood for packaging further declined and the market share is about 18% of total production capacity.

Blockboard accounts for about 11% of the total production capacity and the balance is used for wood composite floor substrate, container base, veneer laminated wood. China's plywood industry continues to adjust the product structure to adapt to changes in market demand.