Market Size of Asia-Pacific Particle Board Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Particle Board Market Analysis
The Asia-Pacific particle board market is projected to register a CAGR of over 7% during the forecast period.
In the Asia-Pacific region, the COVID-19 pandemic has significantly impacted the particle board sector. Particle board production and sales have decreased on account of supply chain disruption, decreased consumer expenditure, and rising raw material costs.
- On the other hand, the pandemic has also presented some opportunities for the Asia-Pacific region's particle board business. Due to the move to work remotely and an increase in building activities, the demand for particle board goods has increased in 2021, which has raised the need for home office furniture.
- The rising demand for affordable furniture, along with a rise in per-capita disposable income, is expected to drive market growth.
- However, stringent environmental restrictions and high raw material costs have hindered the market expansion.
- Nevertheless, it is projected that innovative materials and modern production methods are expected to support market expansion in the future.
- China is anticipated to lead the Asia-Pacific region in terms of revenue during the expected timeframe.
