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Particle Board Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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  • 120 Pages
  • April 2021
  • Region: Global
  • Mordor Intelligence
  • ID: 4771767


  • Associate Decor Ltd.
  • Century Prowud
  • D&R Henderson Pty Ltd.
  • Georgia-Pacific
  • Kronoplus Limited
  • Sonae Industria
The Global Particle Board Market is projected to register a CAGR of 5% during the forecast period (2021-2026).

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 2019 in regions such as Asia-Pacific, North America, and 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 condition is expected to recover in 2021, thereby restoring the growth trajectory of market studied.
  • Over the long-term, the major factor driving the market is increase in demand for particle boards for furniture are 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 future.
  • Threat of medium-density fiberboard as a substitute is anticipated to hinder the growth of the market studied.
  • Asia-Pacific region to dominate the market during the forecast period.

Key Market Trends

Increasing Demand from the Furniture Industry
  • Owing to the change in lifestyle of today’s 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 combination of colors.
  • Owing to its high temperature resistance, fire resistance, and moisture resistance. Usage of these boards in the furniture industry is rapidly increasing. Besides that, the furniture made from particle board also impart properties, such as lightweight and high strength to weight ratio.
  • With the increasing housing construction, population, and income-levels across the world, the demand for furniture, such as chairs, table, bed, sofa, shelves, and cupboard, has been increasing significantly.
  • 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.
  • Countries including China, United States and Germany accounts for the largest markets in furniture industry. China is the dominant exporter of wood furniture to the EU.
  • Indonesia is one of the world’s leading furniture's manufacturers. Indonesia’s furniture industry maintains a positive growth.
  • Additionally, in India, the expanding furniture market has also led to companies, such as Pepper fry (an online furniture shopping store in India), to expand their house brand portfolio and retail networks in the country.
  • According to a study by the World Bank, India's organized furniture industry grew by around 20% annually and was poised to cross USD 32 billion by 2019. The country’s online home décor market is estimated to grow by more than 50% over the years.
  • All the aforementioned factors is expected to drive the global market during the forecast period.

Asia-Pacific Region to Dominate the Market
  • Asia-Pacific region to witness the robust growth in the particle board market, owing to the increasing construction and furniture industry in countries like China.
  • 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.
  • Moreover, five new particleboard production mills with annual output of 1 million cubic meters have become operational in September 2020 in Shandong, Jiangsu, Anhui and Guangxi provinces of which 4 are continuous flat pressing lines with annual output capacity of 950,000 cubic meters further increasing the production capacity of China. In the long run, the price of particle board is going to fall as many small plants are being built around the world, increasing the supply in turn reducing the selling price.
  • China is one of the largest furniture exporters in the world along with Italy. Wood furniture manufacturing makes up the largest proportion of the Chinese furniture manufacturing sector, contributing more than 50% of total furniture manufacturing revenue.
  • The Indian government has been actively boosting housing construction, as it aims to provide 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 it is likely to witness the construction of 60 million new homes in the country. The availability of affordable housing in the country is expected to rise by around 70% by 2024.
  • Under Budget 2020-2021, the Indian government has been planning to allot investment of about INR 103 lakh crore on infrastructure over the next five years. In this regard, the government has introduced a National Infrastructure Pipeline (NIP), which consists of about 6500 projects across sectors. These projects would include infrastructure development for housing, healthcare, educational institutes, railway stations, bus terminals, airports, metro and railway transportation, logistics and warehousing, etc.
  • India is expected to be the third-largest construction market across the world by 2030, with its contribution to the GDP increased to around 15% by 2030.
  • Owing to the present pandemic condition, the market demand for particle board in the construction and furniture industry has been facing headwinds. However, market recovery is speculated to be witnessed. Thus, the projected growing construction and furniture industries are expected to boost the demand for the local particle boards market in the post-pandemic recovery period.

Competitive Landscape

The particle board market is fragmented in nature, due to the presence of several major players in different countries. Key players in the particle board market include West Fraser, Georgia-Pacific, Roseburg Forest Products, Kastamonu Entegre, and Wanhua Ecoboard Co.,Ltd

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  • Associate Decor Ltd.
  • Century Prowud
  • D&R Henderson Pty Ltd.
  • Georgia-Pacific
  • Kronoplus Limited
  • Sonae Industria

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Drivers
4.1.1 Increase in Demand for Particle Boards for Furniture
4.1.2 Easy Availability of Raw-materials
4.2 Restraints
4.2.1 Threat of Medium-density Fiberboard as a Substitute
4.2.2 Unfavorable Conditions Arising due to the Impact of COVID-19
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1 Raw Material
5.1.1 Wood Sawdust Shavings Flakes Chips
5.1.2 Bagasse
5.1.3 Other Raw Materials
5.2 Application
5.2.1 Construction
5.2.2 Furniture
5.2.3 Infrastructure
5.2.4 Other Applications
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom Italy Russia France Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share **/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Associate Decor Ltd.
6.4.2 Boise Cascade
6.4.3 Century Prowud
6.4.4 Columbia Forest Products
6.4.5 D&R Henderson Pty Ltd.
6.4.6 EGGER Group
6.4.7 Georgia-Pacific
6.4.8 Kastamonu Entegre
6.4.9 Kronoplus Limited
6.4.10 Krifor Industries Pvt. Ltd.
6.4.11 Peter Benson (Plywood) Limited
6.4.12 Roseburg Forest Products
6.4.13 Siam Riso Wood Products Co., Ltd
6.4.14 Sonae Industria
6.4.15 Timber Products Company
6.4.16 UCS Forest Group
6.4.17 Uniboard
6.4.18 West Fraser
6.4.19 Wanhua Ecoboard Co. Ltd
7.1 Development of New Methods to Manufacture Particle Boards

A selection of companies mentioned in this report includes:

  • Associate Decor Ltd.
  • Boise Cascade
  • Century Prowud
  • Columbia Forest Products
  • D&R Henderson Pty Ltd.
  • EGGER Group
  • Georgia-Pacific
  • Kastamonu Entegre
  • Kronoplus Limited
  • Krifor Industries Pvt. Ltd.
  • Peter Benson (Plywood) Limited
  • Roseburg Forest Products
  • Siam Riso Wood Products Co., Ltd
  • Sonae Industria
  • Timber Products Company
  • UCS Forest Group
  • Uniboard
  • West Fraser
  • Wanhua Ecoboard Co. Ltd