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 due to urbanization and infrastructure development, leading to a surge in demand for particle boards. In 2023, the office leasing sector witnessed a remarkable revival, with gross leasing activity reaching an unprecedented high of 62.98 million square feet, representing a 26.4% year-on-year increase. Major construction initiatives such as the Navi Mumbai International Airport and the Delhi-Mumbai Industrial Corridor are driving this growth, enhancing connectivity and stimulating economic activity. Furthermore, sustainable urban living projects like Dholera Smart City in Gujarat are promoting the use of particle boards in furniture and interior design, thereby boosting market demand. 

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 segments_for_ai.nslist

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 renovation projects. Its fire rating, density, moisture resistance, and smooth surfaces cater to different design trends and aesthetics. For new constructions and budget-friendly renovations, particleboard sheathing and wall cladding are viable options. Its uses extend to furniture design, table tops, and even eco-friendly building materials. With the increasing focus on sustainability and property investment, high-density fiberboard and laminate flooring are gaining popularity. Personal style and interior design inspiration can be achieved through decorative finishes and wood alternatives. Wood properties, such as particleboard's smooth surfaces and design aesthetics, continue to influence kitchen design ideas and home improvement projects.

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 projected to grow due to the expansion of the construction sector in both developed and developing economies. The construction industry's demand for lightweight, cost-effective, and versatile materials like particleboard, made from raw materials such as wood shavings, chips, and bagasse, is driving market growth. Product types include construction-grade particleboard, laminated particle board, and fire-resistant particle board, used in wooden panel products, ready-made furniture, and insulation materials. The market's growth is further fueled by the increasing need for infrastructure development in response to urbanization and public healthcare demands.. 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/