India Particle Board Market Size (2024 - 2029)

The market size of the India Particle Board Market is projected to grow significantly in the coming years, despite challenges faced due to the COVID-19 pandemic which disrupted manufacturing operations. The growth in the market size is being driven by increasing demand in the office space and hospitality sectors, particularly for furniture. However, the availability of substitutes like medium-density fiberboard may limit this growth. Nonetheless, the market is expected to benefit from upcoming construction and infrastructure projects in the country, providing potential opportunities for expansion.

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Market Size of India Particle Board Industry

India Particle Board Market Summary
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

India Particle Board Market 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 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
Wood
Sawdust
Shavings
Flakes
Chips
Baggase
Other Raw Materials
Application
Construction
Furniture
Infrastructure
Other Applications

India Particle Board Market Size Summary

The Indian Particle Board Market is projected to witness significant growth, driven by increasing demand from the construction industry and various other applications. The sector was adversely affected by the COVID-19 pandemic due to disruptions in production, supply chain, and unavailability of personnel. However, the market rebounded in 2021, with the growth trajectory expected to continue in the coming years. Key market growth drivers include rising demand for furniture in the office space and hospitality sectors. However, the availability of substitutes such as medium-density fiberboard (MDF) could potentially hamper market growth. Upcoming construction and infrastructure projects in the country are expected to present future opportunities. Particle boards, a low-cost product made from waste wood, dominate the market. These boards are primarily made from sawdust mixed with shavings, flakes, or chips and dried with a resin or binder. The furniture segment is expected to dominate the market due to the high demand from residential and commercial sectors. Particle boards are widely used in the manufacture of various residential furniture, including cabinets, storage units, wardrobes, kitchen cabinets, bookshelves, dressing units, tables, sofa sets, shoe racks, desks, stools, and others. The Indian particle board industry is partially consolidated, with key players including Associate Decor Ltd., Shirdi Industries Ltd. (ASIS India), Century Prowud, Archidply Decor Ltd., and Greenland Particle Boards Pvt Ltd.

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India Particle Board Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Furniture in the Office Space and Hospitality Sectors

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Threat of Medium-density Fiberboard (MDF) as a Substitute

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Trade Analysis

    6. 1.6 Production Capacities (by Manufacturers)

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Raw Material

      1. 2.1.1 Wood

        1. 2.1.1.1 Sawdust

        2. 2.1.1.2 Shavings

        3. 2.1.1.3 Flakes

        4. 2.1.1.4 Chips

      2. 2.1.2 Baggase

      3. 2.1.3 Other Raw Materials

    2. 2.2 Application

      1. 2.2.1 Construction

      2. 2.2.2 Furniture

      3. 2.2.3 Infrastructure

      4. 2.2.4 Other Applications

India Particle Board Market Size FAQs

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.

In 2024, the India Particle Board Market size is expected to reach USD 0.64 billion.

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