Particle Board Market set to garner higher revenue globally
Posted by Mayur Yeole on February 24th, 2021
The growth of the construction and infrastructure sector at a significant pace across the globe owing to emerging market trends such as changing consumer lifestyle, increased consumer preference for ready-made furniture, and the procurement of cheap fibreboards is also supporting the demand for particleboards in the global market. Manufacturers, retailers, distributors, and suppliers are now focusing on different grades of particleboards, such as wood and bagasse that can be used in a wide range of applications. The introduction of fire-resistant particleboard and moisture repellant particleboards is expected to drive the demand for particleboards in the global market as these types of particleboards have qualities that ensure durability and cost-effectiveness.
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Asia-Pacific is expected to register the highest growth rate in the particle board market during the forecast period:
Based on the region, the particle board market has been segmented into Europe, Asia-Pacific, North America, South America, and the Middle East & Africa. In 2018, Asia-Pacific dominated the market in terms of growth rate primarily due to the growth in the wood panel industry in China and India. The furniture industry in Asia-Pacific is rapidly growing due to the growing population and economic development, which is boosting the growth of the domestic particle board market. Moreover, the busy lifestyles and the rising purchasing power in the developing countries, along with the increasing adoption of cost-effective solutions among consumers is also expected to drive the market growth in Asia-Pacific.
The Global Particle Board Market was valued at USD 19.3 Billion in 2018 and is expected to witness 6.1% CAGR during the forecast period.
By raw material type, the global particle board market has been segmented into wood, bagasse, and others. The wood segment is further sub-segmented into sawdust, shavings, flakes, and chips. This segment is expected to register the highest growth rate in the global market during the forecast period, owing to various advantages of wood particleboards, including easy raw material procurement. Wood-based particleboards are incredibly lightweight and have a high load-bearing capacity.
Based on product type, the global particle board market is segmented into fire-resistant particle board, moisture-resistant particleboard, and raw particleboard. The moisture-resistant particleboard segment is expected to witness the highest growth during the forecast period owing to the rising demand for moisture-resistant furniture among consumers.
By application, the global particle board market is segmented into construction, furniture, infrastructure, and others. The furniture segment is expected to register the highest growth rate during the forecast period. The need for furniture is growing across the globe owing to the rapid increase in population, which is expected to drive the furniture segment. Furthermore, the growing concerns of regularity authorities across the world on waste produced from non-eco-friendly material is expected to create opportunities for the market players and is expected to fuel the growth of the furniture segment in the global particle board market during the forecast period.
Scope of the Report
This study provides an overview of the global particle board market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for Europe, Asia-Pacific, North America, Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global particle board market by raw material type, product type, application, and region.
The Prominent Players in the Global Particle Board Market include Timber Products Company, Roseburg, Uniboard, Associate Decor Limited, Boise Cascade, D&R Henderson Pty Ltd, Dakota Premium Hardwoods, Green Land Particle Board, Century Plyboards India Ltd., Krifor Industries, Shell Laminates Pvt. Ltd, DMK Particleboard LLP, Kunnathan Chip Board Pvt. Ltd, Action TESA, and FA Mitchell.
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About the AuthorMayur Yeole
Joined: February 8th, 2021
Articles Posted: 565
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