Latest News- Particle Board Market in India: Residential is expected to lead the End-user segment during 2024-2028

The Particle Board Market in India is being driven by Increasing demand for furniture from office space and hospitality sectors in India

The Particle Board Market in India is expected to grow at a CAGR of 5.1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 554.2 million. The Indian construction industry is experiencing robust growth, fueled by urbanization and infrastructure projects, leading to a surge in demand for particle boards. In 2023, the office leasing sector recorded an all-time high of 62.98 million square feet in gross leasing activity, marking a 26.4% year-on-year increase. Major initiatives like the Navi Mumbai International Airport and the Delhi-Mumbai Industrial Corridor are driving this growth by enhancing connectivity and stimulating economic activity. Furthermore, sustainable urban living projects, such as Dholera Smart City in Gujarat, are promoting the use of materials like particle boards in furniture and interior design, thereby reinforcing the market's growth trajectory. 

Get more information on Particle Board Market in India by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Residential
  • Commercial
  • Industrial
• Distribution Channel
  • Offline
  • Online
• Geography
  • India

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for furniture from office space and hospitality sectors in India
• Being lightweight, can be easily transported and handled
• Rising number of infrastructural and construction activities

However, the market also witnesses some limitations, which are as follows:

• Low durability
• Toxic to human health
• Threat of substitutes

Benefits of Buying Global Particle Board Market in India Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Particle Board Market in India Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Indian particle board market caters to various sectors including crafts, construction, and interior design. Suppliers offer particleboard for diverse applications such as shelving, kitchen cabinets, walls, ceilings, flooring, and soundproofing. Particleboard's eco-friendly recycling and long-lasting properties make it a popular choice for home renovations and budget-friendly projects. Its density, moisture resistance, and smooth surfaces cater to wall cladding, floor installation, and furniture design. With increasing interior design trends towards sustainable building materials, particleboard's environmental impact and wood waste recycling are key considerations. Fire rating, thickness, and decorative finishes add to its versatility. For new home construction and property investment, high-density fiberboard offers eco-friendly, cost-effective, and design-aesthetic solutions. Kitchen design ideas and home improvement projects benefit from particleboard's versatility, with its uses ranging from table design to wood alternatives like laminate flooring. Personal style and design aesthetics can be enhanced through particleboard's smooth surfaces and various densities, making it a budget-friendly and long-lasting alternative to traditional wood.

Market Research Overview

The Particle Board Market in India is a significant segment of the global building products industry, which encompasses manufacturers of various components for construction and home improvement. This market primarily focuses on the production of raw particleboard, constructed from wood shavings and chips, as well as value-added products such as laminated particle board, fire-resistant particle board, and bagasse-based particle board. The growth of this market is driven by the expansion of the construction sector, particularly in developing economies, where there is a pressing need to address urbanization and infrastructure development in areas like residential and healthcare facilities. Technavio, a leading market research firm, estimates the global building products market size based on the combined revenue generated by manufacturers of these products and equipment. The market's growth is further fueled by the increasing demand for lightweight and cost-effective wooden panel products, ready-made furniture, and insulation materials.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/