Market Size of Asia-Pacific Particle Board Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Particle Board Market Analysis
The Asia-Pacific particle board market is projected to register a CAGR of over 7% during the forecast period.
In the Asia-Pacific region, the COVID-19 pandemic has significantly impacted the particle board sector. Particle board production and sales have decreased on account of supply chain disruption, decreased consumer expenditure, and rising raw material costs.
- On the other hand, the pandemic has also presented some opportunities for the Asia-Pacific region's particle board business. Due to the move to work remotely and an increase in building activities, the demand for particle board goods has increased in 2021, which has raised the need for home office furniture.
- The rising demand for affordable furniture, along with a rise in per-capita disposable income, is expected to drive market growth.
- However, stringent environmental restrictions and high raw material costs have hindered the market expansion.
- Nevertheless, it is projected that innovative materials and modern production methods are expected to support market expansion in the future.
- China is anticipated to lead the Asia-Pacific region in terms of revenue during the expected timeframe.
APAC Particle Board Industry Segmentation
Particle board, also known as fiberboard, is an engineered product created by combining residual lumber with a binder and applying high pressure and heat. The particle board market is segmented by raw material, application, and geography. By raw material, the market is segmented into wood, bagasse, and other raw materials. By application, the market is segmented into construction, furniture, infrastructure, and other applications. By geography, the market is segmented into China, India, Japan, South Korea, and the Rest of Asia-Pacific. The report covers the market size and forecasts for four countries across the region. For each segment, the market sizing and forecasts have been provided on the basis of value (USD Million).
| By Raw Material | ||||||
| ||||||
| Bagasse | ||||||
| Other Raw Materials |
| By Application | |
| Construction | |
| Furniture | |
| Infrastructure | |
| Other Applications |
| By Geography | |
| China | |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific |
Asia-Pacific Particle Board Market Size Summary
The Asia-Pacific particle board market is experiencing a dynamic phase, driven by evolving consumer preferences and economic factors. The market is projected to grow significantly over the forecast period, despite challenges such as supply chain disruptions and rising raw material costs due to the COVID-19 pandemic. The shift towards remote work and increased construction activities have spurred demand for particle board products, particularly in home office furniture. The region's growing population and rising disposable incomes are further propelling the demand for affordable and aesthetically appealing furniture solutions. However, environmental regulations and high raw material costs pose challenges to market expansion. Innovations in materials and production methods are expected to mitigate these challenges and support future growth, with China anticipated to lead the market in terms of revenue.
The demand for particle boards is particularly strong in China, driven by the robust growth of the furniture and building sectors. The country's focus on sustainable construction practices and the promotion of prefabricated structures are expected to boost the use of particle boards in various applications. China's large population and increasing disposable income are fueling higher spending on furniture and home furnishings, further driving market growth. The region's furniture sector, supported by strategic government initiatives in countries like Malaysia, is expected to continue its upward trajectory, thereby enhancing the demand for particle boards. The market is partially consolidated, with key players investing in new facilities and advanced technologies to meet the growing demand.
Asia-Pacific Particle Board Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Drivers
-
1.1.1 Increasing Demand from the Furniture Industry
-
1.1.2 Easy Availability of Raw Materials
-
-
1.2 Restraints
-
1.2.1 Threat of Medium-density Fiberboard as a Substitute
-
-
1.3 Industry Value-Chain Analysis
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Buyers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products and Services
-
1.4.5 Degree of Competition
-
-
-
2. MARKET SEGMENTATION
-
2.1 By Raw Material
-
2.1.1 Wood
-
2.1.1.1 Sawdust
-
2.1.1.2 Shavings
-
2.1.1.3 Flakes
-
2.1.1.4 Chips
-
-
2.1.2 Bagasse
-
2.1.3 Other Raw Materials
-
-
2.2 By Application
-
2.2.1 Construction
-
2.2.2 Furniture
-
2.2.3 Infrastructure
-
2.2.4 Other Applications
-
-
2.3 By Geography
-
2.3.1 China
-
2.3.2 India
-
2.3.3 Japan
-
2.3.4 South Korea
-
2.3.5 Rest of Asia-Pacific
-
-
Asia-Pacific Particle Board Market Size FAQs
What is the current Asia-Pacific Particle Board Market size?
The Asia-Pacific Particle Board Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Particle Board Market?
CenturyPly , Fletcher Building , Metro Particle Co Ltd, Greenlam Industries Ltd and Wanhua Ecoboard Co Ltd are the major companies operating in the Asia-Pacific Particle Board Market.
