In May 2025, plywood production in Japan rises 0.4% month-to-month to 218 thousand m3 and 4.6% year-over-year. Shipments of ordinary plywood fall 4.4% to 214 thousand m3, while ending inventory grows 0.9% to 173 thousand m3, according to the Ministry of Agriculture, Forestry and Fisheries of Japan.
Softwood plywood, which accounts for roughly 99% of ordinary plywood output, increases 0.5% month-to-month to 215 thousand m3 and 4.6% year-over-year. The annualized production rate for softwood plywood reaches 2.57 million m3. Structural plywood, comprising about 91% of softwood plywood, rises 0.6% month-to-month to 196 thousand m3 and 4.7% year-over-year, with an annualized rate of 2.34 million m3. Shipments of structural plywood dip 3.5% to 195 thousand m3, while ending inventory gains 0.8% to 144 thousand m3.
Concrete formwork plywood output stands at 3 thousand m3, representing roughly 1.4% of softwood production. Special plywood production totals 38 thousand m3 — about 17% of ordinary plywood — with shipments at 37 thousand m3 and ending inventory at 50 thousand m3. The annualized rate for special plywood is 454 thousand m3.
Over the last six months, ordinary plywood production has recorded consecutive monthly gains, suggesting a steady acceleration in output momentum. However, shipments in both ordinary and structural categories have moderated, contributing to rising inventory levels. The ratio of ending inventory to shipments for ordinary plywood increases to 0.81, underscoring a potential imbalance between supply and demand. Image: Plywood production, shipments, and inventory in Japan, May 2025
¹ Softwood plywood figures are included in ordinary plywood.
² Structural plywood figures are included in softwood plywood.
Source: Ministry of Agriculture, Forestry and Fisheries of Japan.
