IMARC Group, a leading market research company, has recently releases report titled “Particle Board Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global particle board market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the particle board market?
The global particle board market size reached US$ 22.2 billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.9 Bn by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.
What is particle board?
Particle board, also known as chipboard, is an engineered wood product manufactured from wood chips, sawmill shavings, sawdust, and a synthetic resin or other suitable binder, which is pressed and extruded. It is a widely used alternative to plywood or other hardwood panels, offering a cost-effective solution for various applications. The primary advantage of particle board is its low cost due to the utilization of wood waste materials. It has a uniform and smooth surface, making it ideal for furniture making, cabinetry, and interior decoration. However, particle board is generally less durable and more susceptible to moisture compared to other wood products. It is also not as strong as plywood, limiting its use in load-bearing applications.
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What are the growth prospects and trends in the particle board industry?
The booming furniture industry represents one of the key factors driving the growth of the market across the globe. Particle board's ease of use and affordability make it a preferred material for manufacturing various types of furniture, particularly ready-to-assemble (RTA) and flat-pack furniture. Particle board is an affordable alternative to more expensive wood products like plywood or solid wood. Its lower cost, stemming from the use of wood waste materials, makes it an attractive choice for budget-conscious consumers and manufacturers.
The ongoing growth in the construction sector, especially in emerging economies, drives the demand for cost-effective and versatile building materials like particleboard for interior decoration, flooring, and cabinetry. Innovations in production processes are leading to improved quality and durability of particle board, making it more suitable for a wider range of applications and increasing its market appeal.
Rapid urbanization and changing lifestyle trends, particularly the growing preference for modern and modular furniture, have increased the demand for particle board in urban settings. Increased disposable incomes, especially in developing countries, are leading to higher spending on furniture and interior decoration, which is subsequently boosting the market.
Who are the key players operating in the industry?
The report covers the major market players including:
Particle Board Manufacturers:
- Kastamonu Entegre
- Roseburg Forest Products Co.
- Norbord Inc.
- Boise Cascade Company
- Columbia Forest Products, Inc.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Sector:
- New Construction
- Replacement
Breakup by Application:
- Residential
- Commercial
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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