Particle Board Market Size (2024 - 2029)

The particle board market is projected to experience growth over the forecast period, driven by increased demand for home improvement projects and furniture. Despite challenges posed by the COVID-19 pandemic and competition from medium-density fiberboard, the market is expected to expand due to the availability of raw materials and innovative manufacturing methods. Upcoming construction and infrastructure projects present further opportunities for market expansion. The Asia-Pacific region is anticipated to lead in market dominance during this period.

Market Size of Particle Board Industry

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. Particle Board Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 2.50 %
Fastest Growing Market Asia Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Particle Board Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Particle Board Market Analysis

The Particle Board Market size is estimated at 105.86 Million cubic meters in 2024, and is expected to reach 122.42 Million cubic meters by 2029, growing at a CAGR of greater than 2.5% during the forecast period (2024-2029).

The COVID-19 pandemic hampered the particle board market. The demand for particle boards initially declined as construction projects were delayed or put on hold, and consumer spending on furniture decreased due to economic uncertainty. However, as people spend more time at home after COVID-19 and engage in DIY projects, the demand for particle boards for home improvement projects increases.

  • Factors such as the availability of raw materials for particle boards and an increase in demand for particle boards for furniture are augmenting the growth of the particle board market globally.
  • On the flip side, the threat of medium-density fiberboard (MDF) as a substitute and lower durability of particle boards are expected to restrain the growth of the particle board market.
  • The development of new methods to manufacture particle boards and upcoming construction and infrastructure projects are expected to act as an opportunity for the particle board market in the future.
  • The Asia-Pacific region is expected to dominate the particle board market during the forecast period.

Particle Board Industry Segmentation

Particle board, also known as chipboard or low-density fiberboard (LDF), is an engineered product made from wood particles, such as sawdust, wood chips, or wood shavings, that are bonded together with a synthetic resin or other adhesive under heat and pressure. The resulting panel is dense, uniform, and relatively inexpensive compared to solid wood or plywood.

The particle board market is segmented by raw material, application, and geography. On the basis of raw materials, the market is segmented into wood, bagasse, and other raw materials (recycled content). On the basis of applications, the market is segmented into construction, furniture, infrastructure, and other applications (packaging and shipping). The report also covers the market size and forecasts for the particle board market in 27 countries across major regions. For each segment, the market sizing and forecasts were made on the basis of volume (cubic metres).

Raw Material
Wood
Sawdust
Shavings
Flakes
Chips
Bagasse
Other Raw Materials (Recycled Content)
Application
Construction
Furniture
Infrastructure
Other Applications (Packaging and Shipping)
Geography
Asia-Pacific
China
India
Japan
South Korea
Thailand
Indonesia
Malaysia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Turkey
Russia
NORDIC
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Nigeria
Qatar
Egypt
UAE
Rest of Middle East and Africa
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Particle Board Market Size Summary

The particle board market is poised for growth, driven by increasing demand in construction and furniture sectors. The market's expansion is supported by the availability of raw materials and the rising use of particle boards in furniture manufacturing. Despite challenges such as competition from medium-density fiberboard (MDF) and the lower durability of particle boards, the market is expected to benefit from advancements in manufacturing techniques and new construction projects. The Asia-Pacific region, particularly China and India, is anticipated to lead the market due to rapid urbanization, increased income levels, and significant infrastructure development. The versatility of particle boards in interior applications like wall panels and flooring underlayment further enhances their appeal in modular construction trends.

The global particle board market is characterized by its fragmented nature, with several key players operating across different regions. Companies such as West Fraser, Roseburg Forest Products, Georgia-Pacific, Wanhua Ecoboard Co. Ltd, and Kastamonu Entegre are prominent in the industry. Recent strategic moves, such as Roseburg's sale of its particle board plant in Louisiana and Kastamonu Entegre's collaboration with Siempelkamp to enhance production capacity in Turkey, highlight ongoing efforts to strengthen market positions. The market's growth trajectory is supported by increasing investments in residential and commercial construction, particularly in regions like the United States, China, and Germany, where demand for engineered wood products is on the rise.

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Particle Board Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from the Furniture Industry

      2. 1.1.2 Easy Availability of Raw Materials

    2. 1.2 Restraints

      1. 1.2.1 Threat of Medium-density Fiberboard (MDF) as a Substitute

      2. 1.2.2 Lower Durability

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Raw Material

      1. 2.1.1 Wood

        1. 2.1.1.1 Sawdust

        2. 2.1.1.2 Shavings

        3. 2.1.1.3 Flakes

        4. 2.1.1.4 Chips

      2. 2.1.2 Bagasse

      3. 2.1.3 Other Raw Materials (Recycled Content)

    2. 2.2 Application

      1. 2.2.1 Construction

      2. 2.2.2 Furniture

      3. 2.2.3 Infrastructure

      4. 2.2.4 Other Applications (Packaging and Shipping)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Thailand

        6. 2.3.1.6 Indonesia

        7. 2.3.1.7 Malaysia

        8. 2.3.1.8 Vietnam

        9. 2.3.1.9 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Spain

        6. 2.3.3.6 Turkey

        7. 2.3.3.7 Russia

        8. 2.3.3.8 NORDIC

        9. 2.3.3.9 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Nigeria

        4. 2.3.5.4 Qatar

        5. 2.3.5.5 Egypt

        6. 2.3.5.6 UAE

        7. 2.3.5.7 Rest of Middle East and Africa

Particle Board Market Size FAQs

The Particle Board Market size is expected to reach 105.86 million cubic meters in 2024 and grow at a CAGR of greater than 2.5% to reach 122.42 million cubic meters by 2029.

In 2024, the Particle Board Market size is expected to reach 105.86 million cubic meters.

Particle Board Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)