The particle board market share in India is expected to grow by USD 530.26 million, accelerating at a CAGR of 5.35% during the forecast period. Action Group, Archidply Decor Ltd., Asian Prelam Industries Pvt. Ltd., Associate Decor Ltd., Century Plyboards Ltd., DMK Particleboard LLP, EverGreen Boardlam Pvt. Ltd., Krifor Industries Pvt. Ltd., Shirdi Industries Ltd., and The Decorative Laminates (India) Pvt. Ltd. are some of the major particle board market vendors in India.
The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in this intensely competitive market, players must distinguish their product and service offerings through a clear and unique value proposition.
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The particle board market in India is segmented by end-user (residential, commercial, and industrial) and sales channel (offline and online). The significant growth in the construction industry is the major particle board market trend in India which will positively influence the market growth.
The market growth in India by the residential segment will be significant during the forecast period. The growth of the market in the segment is attributed to the significant increase in the demand for particle boards in the residential segment owing to its application in flooring underlayment, partitioning or wall paneling, and false ceilings. The report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.
The increasing demand for furniture from the office space and hospitality sectors in India is one of the primary factors driving the growth of the particle board market. However, the low durability of particle boards may hamper the market growth.
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