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 sector is experiencing robust growth, driven by urbanization and infrastructure projects, leading to a surging demand for particle boards. In 2023, the office leasing sector witnessed a record-breaking year with a gross leasing activity of 62.98 million square feet, marking a 26.4% year-on-year increase. Major initiatives like the Navi Mumbai International Airport and the Delhi-Mumbai Industrial Corridor are fueling this growth by enhancing connectivity and stimulating economic activity. Moreover, sustainable urban living projects such as Dholera Smart City in Gujarat are increasing the demand for particle boards in furniture and interior design. These developments underscore the significant role particle boards play in India's construction industry. 

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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
  • APAC

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

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Market Scope in Particle Board Market in India Research Report

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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 renovation projects. Its density, moisture resistance, and fire rating are key considerations. Uses range from wall cladding and furniture design to budget-friendly home improvement projects. Kitchen design ideas and interior design trends favor smooth surfaces and decorative finishes. High-density fiberboard and wood alternatives like particleboard are sustainable options for new home construction and property investment. Wood waste recycling and eco-friendly building materials are essential for reducing environmental impact. Particleboard's versatility, durability, and affordability make it a preferred material for numerous applications in home improvement and design.

Market Research Overview

The Particle Board Market in India is a significant segment of the global building products industry, which encompasses manufacturers of various building components and home improvement products. According to Technavio, the global building products market is expected to grow due to the expansion of the construction sector in both developed and developing economies. In India, the particle board industry primarily focuses on the production of raw particleboard, laminated particleboard, and fire-resistant particle board using wood shavings, chips, and bagasse. These products are utilized in the manufacturing of wooden panel products, particleboard cabinets, and ready-made furniture. The market's growth is driven by the increasing demand for lightweight, cost-effective, and fire-resistant building materials in the construction of residential and commercial structures. Additionally, the need for high-quality, durable, and fire-resistant particle board in various industries, such as healthcare and hospitality, further bolsters market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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