India Particle Board Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

The India Particle Board Market is Segmented by Raw Material (Wood, Bagasse, and Other Raw Materials) and Application (Construction, Furniture, Infrastructure, and Other Applications). The report offers market size and forecast in terms of revenue (USD million) for all the above segments.

Market Snapshot

India Particle Board Market Overview
Study Period: 2017-2027
Base Year: 2021
CAGR: >12 %

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Market Overview

The Indian particle board market was valued at around USD 380 million in 2021. It is expected to record a CAGR of over 12% during the forecast period.

The market saw positive growth in 2021 due to the growing construction industry. Particle board is a wood-based substance commonly used in flat-pack furniture, interior cabinets, and work tables (finished with HPL). It is also used to make wall and floor panels. With its extensive use in residential and office furniture, including dressing units, tabletops, kitchen cabinets, wardrobes, bookshelves, shoe racks, and beds, the market is expected to see growth in demand for particle board 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 and other drivers, such as the desirable properties of particle board over other engineered wood products, cost-effectiveness, and easy raw material sourcing.
  • Upcoming construction and infrastructure projects in the country are likely to act as an opportunity in the future.

Scope of the Report

Particle board, also known as fiberboard, is an engineered material made of separate fibers. Fiberboards are generally made of engineered wood, which is 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 material and application. The report offers market size and forecast in revenue (USD million) for all the above segments.

Raw Material
Other Raw Materials
Other Applications

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Key Market Trends

Increasing Demand for Furniture from the Office Space and Hospitality Sectors

  • Particleboards are commonly used in furniture production for use in offices, hotels, restaurants, cafés, and other lodging establishments. These materials are utilized to create shelves, storage containers, and flooring for offices and the hospitality sector.
  • These engineered wood products are made from sawdust and wood flakes, thus possessing a lightweight characteristic. The relatively low cost of particle boards over other wood-based panels is boosting its demand in furniture manufacturing.
  • Due to a surge in occupiers from the information technology, coworking, engineering, and manufacturing industries, India's office space grew in 2021. The growth in office absorption was also aided by the banking, financial services, and insurance (BFSI) and life sciences segments.
  • A sharp spike was witnessed in office leasing occupancy, i.e., over 12.5 million sq. ft from July to September of 2021, supported by the economy returning to normalcy and corporate workforces slowly returning to office, especially in the IT sector.
  • Increasing demand from the office space and hospitality sector projects and several government initiatives and investments are likely to significantly boost the furniture market.
  • Therefore, the increasing demand for furniture and office space is expected to drive the market in the coming years.
India Particle Board Market - Segmentation

Furniture Segment Dominated the Market

  • India is a growing economy and holds great potential for future market opportunities. According to IMF forecasts, the country is expected to record a CAGR of about 8.5% in 2022.
  • Particleboards have numerous uses in the furniture industry, which experienced high demand from the residential and commercial sectors. Plain particle boards are used in interior applications, such as beds, storage units, wardrobes, computer tables, bookshelves, shoe racks, and television cabinets.
  • 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 by 2022 in Gujrat, Jammu & Kashmir, Odisha, Himachal Pradesh, Andhra Pradesh, and Punjab, which may support the market studied.
  • In November 2021, the Government of India initiated the construction of a new airport in Noida, with an estimated investment of more than INR 29,000 crore. The said structure is projected to be completed by 2024. This development may boost the construction of hotels and lodging spaces nearby, thus augmenting the demand for furniture.
  • 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.
  • Such factors are likely to positively impact the demand for furniture in residential houses and offices in the country, thus driving the demand for particle boards during the forecast period.
India Particle Board Market - Segmentation Trend 2

Competitive Landscape

The Indian particle board market is partially consolidated due to the presence of different players in different states. The major part of the market is highly unorganized. The top companies (not in any particular order) include Associate Décor Ltd, Shirdi Industries Ltd, Century Prowud, Archidply Decor Ltd, and Green Land Particle Boards Private Limited.

Recent Developments

The recent developments pertaining to the major players in the market are covered in the complete study.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Furniture in the Office Space and Hospitality Sectors

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Threat of Medium-density Fiberboard (MDF) as a Substitute

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Trade Analysis

    6. 4.6 Production Capacities (by Manufacturers)


    1. 5.1 Raw Material

      1. 5.1.1 Wood

        1. Sawdust

        2. Shavings

        3. Flakes

        4. Chips

      2. 5.1.2 Bagasse

      3. 5.1.3 Other Raw Materials

    2. 5.2 Application

      1. 5.2.1 Construction

      2. 5.2.2 Furniture

      3. 5.2.3 Infrastructure

      4. 5.2.4 Other Applications


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Archidply Decor Ltd

      2. 6.4.2 Asian Prelam Industries Pvt. Ltd

      3. 6.4.3 Associate Decor Ltd

      4. 6.4.4 Bajaj Hindusthan Sugar Ltd

      5. 6.4.5 CenturyPly

      6. 6.4.6 DMK Particleboard LLP

      7. 6.4.7 EverGreen Boardlam Pvt. Ltd

      8. 6.4.8 Krifor Industries Pvt. Ltd

      9. 6.4.9 Peacockmy

      10. 6.4.10 Positive Chip Boards

      11. 6.4.11 Shirdi Industries Ltd (ASIS India)

      12. 6.4.12 Action TESA

    5. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The India Particle Board Market market is studied from 2017 - 2027.

The India Particle Board Market is growing at a CAGR of >12% over the next 5 years.

The India Particle Board Market is valued at 380 Million USD in 2017.

Shirdi Industries Ltd, Century Prowud, Green Land Particle Boards Private Limited, Archidply Decor Ltd, Associate Decor Ltd are the major companies operating in India Particle Board Market.

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