India Particle Boards Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.64 Billion |
| Market Size (2029) | USD 1.14 Billion |
| CAGR (2024 - 2029) | 12.15 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Particle Boards Market Analysis
The India Particle Board Market size is estimated at USD 0.64 billion in 2024, and is expected to reach USD 1.14 billion by 2029, growing at a CAGR of 12.15% during the forecast period (2024-2029).
The COVID-19 situation in the country adversely affected the manufacturing companies' business operations by the interruption in production, supply chain disruption, unavailability of personnel, closure/lockdown of production facilities, raw material availability, etc. The market saw positive growth in 2021 due to the growing construction industry and is expected to see growth in demand for particle boards in various applications in the coming years.
- The factors driving the market's growth are increasing demand for furniture in the office space and hospitality sectors.
- The availability of substitutes such as medium-density fiberboard (MDF) will likely restrict the market growth.
- Upcoming construction and infrastructure projects in the country are likely to act as an opportunity in the future.
India Particle Boards Market Trends
This section covers the major market trends shaping the India Particle Board Market according to our research experts:
Wood is Expected to Dominate the Market
- Particle board is a low-cost product that is created from waste wood. It is manufactured by pressing resin and sawdust together with heat. In other words, particle boards are generally made of wood forms, such as sawdust, shavings, flakes, and chips, obtained as waste products during wood machining.
- These are employed in particle boards as a combination of two or more types. Particle boards are primarily made from sawdust. To make particle board, it is mixed with either shavings, flakes, or chips and dried with the use of a resin or binder.
- Sawdust is the first and most consumed wood material in particle boards. Sawdust is composed of fine particles produced as a by-product or waste product of the woodworking processes, such as planning, sawing, milling, routing, drilling, and sanding.
- Shavings are a natural substance mostly produced during the machine processing of wood in lumber mills. In addition, they are a waste product in gang saw and/or planing mills and other wood processing methods.
- Flakes are sorted according to their sizes, as the middle layer contains large flakes, and the top and bottom layers contain fine flakes to get a hard surface. Particle board is made by bonding wood flakes, sorting them by size, and pressing them; the larger flakes make the intermediate layer, while the small flakes produce the hard surface. For the quality of the particle boards, a consistent moisture content for the flakes used in manufacture is essential.
- According to the Department of Commerce, India, export of non-coniferous sawdust and wood waste and scrap, agglomerated in logs, briquettes, pellets or similar forms from April 2022 to October 2022 was USD 2,63, 363.51 million while the import was valued at USD 437,726.14 million. In 2021, the total imports were USD 613,052.05 million while the exports were USD 422,004.40 million.
- Within the Indian wood panel market, particle boards account for approximately 11.50% share. While the plywood and laminate sector is well-established in India, particle board sector is under-penetrated, and it occupies a minor global share of ~2.0%.
Furniture Segment to Dominate the Market
- India is a growing economy and holds great potential.
- Particleboards have numerous uses in the construction industry, which experienced high demand from the residential and commercial sectors.
- Particle boards are used in manufacturing various residential furniture, including cabinets, storage units, wardrobes, kitchen cabinets, bookshelves, dressing units, tables, sofa sets, shoe racks, desks, stools, and others.
- Wood veneer particle boards are used in kitchen cabinets, storage units, tabletops, countertops, wardrobes, and dressing units due to their durability and better performance in a moist environment than plain particle boards.
- ITC's Hotel Group invested in new hotel projects in 2022 in Gujarat, Jammu and Kashmir, Odisha, Himachal Pradesh, Andhra Pradesh, and Punjab, which may support the market studied.
- According to the Forest Trends Association, the Indian domestic furniture market is expected to grow at an annual rate of 12.9% between 2020 and 2024. IKEA has announced its plans to open more than 25 stores across the country, with investments of more than USD 1 billion in stores alone.
- Investments of over USD 20 billion in Gujarat International Finance Tec-City (GIFT) to build office spaces are further anticipated to support the market. This project will include office spaces for insurance, banking, IT, and other sectors. The project is anticipated to be complete by 2024.
India Particle Boards Industry Overview
The Indian particle board market is partially consolidated due to the presence of different players in different states. The top companies include Associate Decor Ltd., Shirdi Industries Ltd. (ASIS India), Century Prowud, Archidply Decor Ltd., and Greenland Particle Boards Pvt Ltd. (not in any particular order).
India Particle Boards Market Leaders
Century Prowud
Archidply Decor Ltd.
Associate Decor Ltd.
Greenland Particle Boards Pvt Ltd.
Shirdi Industries Ltd. (ASIS India)
*Disclaimer: Major Players sorted in no particular order
India Particle Boards Market News
- In November 2022, CenturyPly announced its plan to develop a new manufacturing facility for particle boards in Tamil Nadu, India. This facility will have an annual capacity of 3,60,000 cubic meters (CBM) per annum by the end of the fiscal year 2025.
- In December 2021, Greenlam Industries Limited announced that it would invest in a new manufacturing facility for particle boards and plywood in the coming two to three years. The annual capacity of this plant for particleboard would be 2,31,000 CBM per annum.
India Particle Boards Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand for Furniture in the Office Space and Hospitality Sectors
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Threat of Medium-density Fiberboard (MDF) as a Substitute
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Trade Analysis
4.6 Production Capacities (by Manufacturers)
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Raw Material
5.1.1 Wood
5.1.1.1 Sawdust
5.1.1.2 Shavings
5.1.1.3 Flakes
5.1.1.4 Chips
5.1.2 Baggase
5.1.3 Other Raw Materials
5.2 Application
5.2.1 Construction
5.2.2 Furniture
5.2.3 Infrastructure
5.2.4 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Action TESA
6.4.2 Archidply Decor Ltd.
6.4.3 Asian Prelam Industries Pvt. Ltd.
6.4.4 Associate Decor Ltd.
6.4.5 Bajaj Hindusthan Sugar Ltd
6.4.6 Century Prowud
6.4.7 DMK PARTICLEBOARD LLP
6.4.8 EverGreen Boardlam Pvt. Ltd.
6.4.9 Greenlam Industries Limited.
6.4.10 Krifor Industries Pvt. Ltd.
6.4.11 Peacockmy
6.4.12 Positive ChipBoards
6.4.13 Shirdi Industries Ltd. (ASIS India)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Upcoming Construction and Infrastructure Projects
India Particle Boards Industry Segmentation
Particle board, also known as fiberboard, is an engineered material made of separate fibers. Fiberboards are generally made of engineered wood, either hard or softwood. The wood is mixed with wax and resin binders by applying high pressure and temperature. The Indian particle board market is segmented by raw materials and applications. By raw material, the market is segmented into wood, bagasse, and other raw materials. By applications, the market is segmented into construction, furniture, infrastructure, and other applications. For each segment, the market sizing and forecasts have been done based on value (USD million).
| Raw Material | ||||||
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| Baggase | ||||||
| Other Raw Materials |
| Application | |
| Construction | |
| Furniture | |
| Infrastructure | |
| Other Applications |
India Particle Boards Market Research FAQs
How big is the India Particle Board Market?
The India Particle Board Market size is expected to reach USD 0.64 billion in 2024 and grow at a CAGR of 12.15% to reach USD 1.14 billion by 2029.
What is the current India Particle Board Market size?
In 2024, the India Particle Board Market size is expected to reach USD 0.64 billion.
Who are the key players in India Particle Board Market?
Century Prowud, Archidply Decor Ltd., Associate Decor Ltd., Greenland Particle Boards Pvt Ltd. and Shirdi Industries Ltd. (ASIS India) are the major companies operating in the India Particle Board Market.
What years does this India Particle Board Market cover, and what was the market size in 2023?
In 2023, the India Particle Board Market size was estimated at USD 0.57 billion. The report covers the India Particle Board Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Particle Board Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Particle Board in India Industry Report
Statistics for the 2024 Particle Board in India market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Particle Board in India analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
