Market Size of Particle Board Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
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).
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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.
Particle Board Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from the Furniture Industry
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1.1.2 Easy Availability of Raw Materials
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1.2 Restraints
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1.2.1 Threat of Medium-density Fiberboard (MDF) as a Substitute
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1.2.2 Lower Durability
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Raw Material
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2.1.1 Wood
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2.1.1.1 Sawdust
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2.1.1.2 Shavings
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2.1.1.3 Flakes
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2.1.1.4 Chips
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2.1.2 Bagasse
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2.1.3 Other Raw Materials (Recycled Content)
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2.2 Application
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2.2.1 Construction
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2.2.2 Furniture
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2.2.3 Infrastructure
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2.2.4 Other Applications (Packaging and Shipping)
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Thailand
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2.3.1.6 Indonesia
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2.3.1.7 Malaysia
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2.3.1.8 Vietnam
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2.3.1.9 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Spain
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2.3.3.6 Turkey
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2.3.3.7 Russia
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2.3.3.8 NORDIC
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2.3.3.9 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Colombia
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2.3.4.4 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Nigeria
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2.3.5.4 Qatar
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2.3.5.5 Egypt
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2.3.5.6 UAE
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2.3.5.7 Rest of Middle East and Africa
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Particle Board Market Size FAQs
How big is the Particle Board Market?
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.
What is the current Particle Board Market size?
In 2024, the Particle Board Market size is expected to reach 105.86 million cubic meters.
