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

The Particle Board Market is segmented by Raw Material (Wood, Bagasse, and Other Raw Materials), Application (Construction, Furniture, Infrastructure, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Market Snapshot

Particle Board Market Size
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >5 %
Particle Board Market Major Players

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Market Overview

The particle board market is projected to register a CAGR of 5.5 % during the forecast period (2022-2027).

Due to the impact of COVID-19, several restrictions have been imposed by the government, and thus, construction activities have come to a halt. While residential construction growth was prominent through 2020 in regions, such as Asia-Pacific, North America, the Middle East, and Africa, the COVID-19 pandemic is estimated to severely hit residential construction growth. The lockdowns imposed by the governments to check the spread of coronavirus has resulted in construction companies announcing a shutdown of operations. This is likely to delay the implementation of projects, leading to cost overruns and impacts on the workforce. However, the conditions improved in 2021, thereby restoring the growth trajectory of the market studied.

  • Over the long term, the major factor driving the market is an increase in demand for particle boards for furniture is augmenting the growth of the market.
  • Development of new methods to manufacture particle boards is projected to act as an opportunity for the market in the future.
  • The threat of medium-density fiberboard as a substitute is anticipated to hinder the growth of the market studied.
  • The Asia-Pacific region is expected to dominate the market during the forecast period.

Scope of the Report

Particle board, also known as fiberboard, is an engineered material that is made of separate fibers. Fiberboards are generally made of engineered wood, which is either hard or softwood. This is mixed with wax and resin binders by applying high pressure and temperature. The particle board market is segmented by raw material, application, and geography. The market is segmented by raw materials, which include wood, bagasse, and other raw materials (rice husk, rice straw, cotton stalk, and jute). The market is segmented by applications such as construction, furniture, infrastructure, and other applications (packaging, automotive). The report also covers the market size and forecasts for the particle board market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Raw Material
Other Raw Materials (rice husk, rice straw, cotton stalk, and jute)
Other Applications (packaging, automotive)
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand from the Furniture Industry

  • Owing to the change in lifestyle of population, preference for furniture style has changed drastically during the past years. Contemporary furniture consists of features, such as simple lines, square-edged chairs, and different combinations of colors.
  • In the furniture industry, concepts related to interiors of homes, offices, and flats are changing continuously. This is driving innovation and development, primarily in terms of designs, size, and colors. This is expected to augment the production volume of furniture across the world.
  • The increase in demand for new office construction is likely to boost the market studied as there is an increase in demand for flooring underlayment, cubical partitioning, wall paneling, false ceiling, doors, and furniture. Furthermore, renovation and refurbishment of the existing office buildings are also anticipated to support the product demand in the projected time
  • Countries including China, the United States, and Germany account for the largest markets in the furniture industry. China is the dominant exporter of wood furniture to the EU.
  • In India, FDI is allowed wholly in tourism construction projects, including the development of hotels, resorts, and recreational facilities. This is expected to boost the hospitality sector and lead to a positive impact on the demand for furniture in these structures.
  • Dream Hotel Group plans to invest around USD 300 million in the next three to five years for the development of the cruise sector in India.Ibis, a part of Accor Group, plans to invest over INR 500 crore to add four more properties offering 685 keys by 2024.
  • All the above mentioned factors are expected to drive the global market during the forecast period.
 Particle Board Market Forecast

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region to witness robust growth in the particle board market, owing to the increasing construction and furniture industry in countries like China, India .
  • China is the largest market base in the Asia-Pacific region, owing to its ever-increasing population, rising income, and rapid urbanization. It is also one of the major manufacturing hubs for almost every industry. Hence, the infrastructure development in the country will see a continuous rise.
  • China’s construction industry developed rapidly due to the central government’s push for infrastructure investment to sustain economic growth.
  • The Indian government has been actively boosting housing construction, as it aims to provide a home to about 1.3 billion people. The country is likely to witness around USD 1.3 trillion of investment in housing over the next seven years and is likely to witness the construction of 60 million new homes in the country. ​By 2022, India is expected to contribute about USD 640 billion in the construction industry due to government initiatives in affordable housing, such as housing to all plans.
  • The growing construction activities in the region and the rising trend of using engineered wood products in interiors lead to the increase in the demand for particle board, which as a result, drives the growth of the market studied in Asia-Pacific region.​
Particle Board Market Trends

Competitive Landscape

The particle board market is fragmented in nature, due to the presence of several major players in different countries. Some of the major players (not in any particular order) in the market include West Fraser, Roseburg Forest Products, Georgia-Pacific, Wanhua Ecoboard Co. Ltd and Kastamonu Entegre.

Recent Developments

  • In February 2021, West Fraser Timber Co. Ltd. and Norbord Inc. jointly announced that they had completed the previously announced transaction, whereby West Fraser has acquired all of the issued and outstanding common shares of Norbord.
  • In September 2020, EGGER announced that it had completed its first raw particle board production, marking the start of operations at its new manufacturing facility in Lexington, United States.

Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from the Furniture Industry

      2. 4.1.2 Easy Availability of Raw Materials

    2. 4.2 Restraints

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

      2. 4.2.2 Unfavorable Conditions Arising Due to the Impact of COVID-19

    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 Consumers

      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


    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 (rice husk, rice straw, cotton stalk, and jute)

    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 (packaging, automotive)

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. Russia

        5. France

        6. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle East & Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle East & Africa


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

    2. 6.2 Market Share **/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Associate Decor Ltd

      2. 6.4.2 Boise Cascade

      3. 6.4.3 Century Prowud

      4. 6.4.4 D&R Henderson Pty Ltd

      5. 6.4.5 EGGER

      6. 6.4.6 Georgia-Pacific

      7. 6.4.7 Kastamonu Entegre

      8. 6.4.8 Krifor Industries Pvt. Ltd

      9. 6.4.9 Peter Benson (Plywood) Limited

      10. 6.4.10 Roseburg Forest Products

      11. 6.4.11 Shirdi Industries Ltd. (ASIS India)

      12. 6.4.12 Siam Riso Wood Products Co. Ltd

      13. 6.4.13 Timber Products Company

      14. 6.4.14 Uniboard

      15. 6.4.15 West Fraser

      16. 6.4.16 Wanhua Ecoboard Co. Ltd

    5. *List Not Exhaustive

    1. 7.1 Development of New Methods to Manufacture Particle Boards

**Subject to Availability

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Frequently Asked Questions

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

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

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

West Fraser, Roseburg Forest Products, Georgia-Pacific, Wanhua Ecoboard Co.,Ltd, Kastamonu Entegre are the major companies operating in Particle Board Market.

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