Particle Board Market Size, Share & Growth | Forecast [2031]
Particle Board Market Size, Share & Growth | Forecast [2031]
Segments - Particle Board Market by Raw Material (Wood, Bagasse, and Others), Product Type (Fire-resistant Board, Moisture-resistant Board, and Raw Board), Application (Construction [New Construction and Renovation], Furniture, Infrastructure, and Others), End-user (Residential Construction, Commercial Construction, and Industrial Construction), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :CM-5368
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Report Description
The global particle board market size was valued at USD 22.4 Bn in 2022 and is likely to reach USD 30.95 Bn by 2031, expanding at a CAGR of 3.9% during 2023 – 2031. The growth of the market is attributed to increasing demand for moisture resistance or high load-bearing engineered wood solutions in the construction and furniture industries.
Particle board is an engineered wood product that is widely used in construction and furniture manufacturing. It is also known as a chipboard or low-density fiberboard (LDF). This board is created by compressing and bonding wood particles or fibers together with the help of a synthetic resin adhesive under high heat and pressure. The resulting board has a uniform texture and a smooth surface.
Particle board is denser than plywood and an affordable alternative to solid wood, which makes it a preferable choice for cost-conscious consumers and manufacturers. The particle boards are manufactured from small wood particles, sawdust, and other wood waste. This promotes sustainability and reduces the demand for solid wood, which further helps to conserve forests.
Particle boards are known for their uniform strength and consistent dimension making them a reliable board solution. It is less prone to warping or shrinking compared to solid wood, which makes it a suitable material for large structural components such as shelves, cabinets, and furniture frames. Its smooth surface facilitates easy finishing and painting, which allows customization to meet specific design requirements.
The COVID-19 pandemic affected the particle board market. The market growth decreased, due to a sharp decline in demand from the construction industry. The lockdown, social distancing, and travel restrictions imposed by governments restricted the movement of the workforce, which encouraged manufacturers to cease the production of particle board. Furthermore, the irregular supply of raw materials due to the ban on import & export activities disrupted the overall supply chain of the market.
Particle Board Market Dynamics
Major Drivers
Increasing demand from the construction and furniture industries is expected to drive the market in the coming years. Particle boards are used as underlayment or base for wood flooring, wall paneling, partitions, and subflooring. The furniture industry highly relies on particle boards for manufacturing various components like shelves, cabinets, and frames. These boards offer design versatility and allow home furniture manufacturers to create a wide range of styles and shapes. Easy availability, low cost, high density, and uniformity compared to plywood are further likely to boost the demand for particle boards.
Existing Restraints
The limited moisture resistance and rising competition among manufacturers of alternative materials are expected to hinder the market. Particle board has inherent limitations in terms of moisture resistance compared to materials like plywood or certain types of fiberboard.
Excessive exposure to moisture can cause swelling, warping, or deterioration of particle board. The rising competition among manufacturers of other engineered wood products such as medium-density fiberboard (MDF), oriented strand board (OSB), and plywood to make cost-effective and durable solutions is likely to affect the market. Moreover, less durability and strength of particle boards are likely to restrain the market.
Emerging Opportunities
The development of sustainable low-emission products and the advancements in manufacturing technology are likely to create favorable opportunities for the players competing in the market. Particle board manufacturers are focusing on reducing formaldehyde emissions by exploring alternative adhesives and utilizing recycled or renewable materials in particle board production. Offering environmentally friendly options can attract customers who prioritize sustainability in their purchasing decisions.
Scope of the Particle Board Market Report
The report on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Particle Board Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Raw Material (Wood, Bagasse, and Others), Product Type (Fire-resistant Board, Moisture-resistant Board, and Raw Board), Application (Construction [New Construction and Renovation], Furniture, Infrastructure, and Others), and End-user (Residential Construction, Commercial Construction, and Industrial Construction). |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Asian Prelam Industries Pvt. Ltd.; Boise Cascade.; CenturyPly; Columbia Forest Products, Inc.; D&R Henderson Pty Ltd.; Dakota Premium Hardwoods, LLC.; DMK PARTICLEBOARD LLP; EverGreen Boardlam Pvt. Ltd.; FA Mitchell & Co Pty Ltd.; Georgia-Pacific.; Greenland Particle Boards Pvt Ltd.; Kastamonu Entegre; K-Board Ply.; Krifor Industries Pvt. Ltd.; Roseburg Forest Products; Shell Laminates Private Limited.; Timber Products Company; Wan Hua He Xiang Board Co.,Ltd; and West Fraser |
Particle Board Market Segment Insights
Raw Material Analysis
Based on raw material, the particle board market is divided into wood, bagasse, and others. The wood segment is estimated to hold a major revenue share of the market during the projection period, owing to its easy availability across the globe and structural integrity, which makes it an ideal raw material for particle board production.
Wood is a renewable resource and a primary raw material for particle board production. Its abundance ensures a consistent and reliable supply for manufacturers. The natural fibers and cell structure of wood particles increase the board's strength, stability, and dimensional characteristics. This makes particle boards a reliable material for various construction and building applications.
Product Type Analysis
In terms of product type, the market is fragmented into fire-resistant board, moisture-resistant board, and raw board. The moisture-resistant board segment is expected to register a robust growth rate during the forecast period, due to the growing demand for water-resistant material solutions in various construction projects. Consumers and professionals in the construction industry are increasingly seeking materials that can withstand moisture challenges and provide long-term performance.
Moisture-resistant particle board is specifically engineered to withstand exposure to moisture, humidity, and damp environments. It is manufactured using special additives or resins that provide increased resistance to moisture absorption and minimize swelling or warping when exposed to water or high humidity levels.
Application Analysis
Based on application, the particle board market is segmented into construction, furniture, infrastructure, and others. The construction segment is further bifurcated into new construction and renovation. The construction segment is anticipated to hold a major market share in the coming years, owing to the increasing demand for particle boards for subflooring and underlayment in construction projects. It provides a stable and smooth surface for the installation of flooring materials such as carpet, laminate, or vinyl.
Particle board panels are dimensionally stable, which prevents the warping or movement of the flooring materials. Moreover, particle boards are utilized in both commercial and residential buildings for interior design. Rising infrastructural activities in buildings, houses, and apartments and increasing renovation of buildings are likely to contribute to segment growth.
End-user Analysis
On the basis of end-user, the market is categorized into residential construction, commercial construction, and industrial construction. The residential construction segment is anticipated to expand at a considerable CAGR during the projected period, due to the rapid urbanization and increasing disposable incomes. These factors are encouraging people to upgrade their residential spaces through renovations and home improvement projects.
Particle boards are a preferable choice for home renovation projects. These boards are utilized in various applications such as cabinets, shelves, countertops, interior wall paneling, and flooring underlayment. Homeowners often choose these particle boards due to their affordability, versatility, and ease of installation.
Regional Outlook
In terms of region, the global particle board market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the global market in the coming years, owing to the rapid urbanization and infrastructural development in emerging economies such as China and India.
This region has a growing population which creates a strong demand for affordable housing solutions. Particle board is a cost-effective construction material that is widely used in residential building projects to meet their demands. Furthermore, the rising furniture manufacturing industry and the growing construction activities are likely to fuel the market in the region.
Segments
The global particle board market has been segmented on the basis of
Raw Material
- Wood
- Bagasse
- Others
Product Type
- Fire-Resistant Board
- Moisture-Resistant Board
- Raw Board
Application
- Construction
- New Construction
- Renovation
- Furniture
- Infrastructure
- Others
End-user
- Residential Construction
- Commercial Construction
- Industrial Construction
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Asian Prelam Industries Pvt. Ltd.
- Boise Cascade.
- CenturyPly
- Columbia Forest Products, Inc.
- D&R Henderson Pty Ltd.
- Dakota Premium Hardwoods, LLC.
- DMK PARTICLEBOARD LLP
- EverGreen Boardlam Pvt. Ltd.
- FA Mitchell & Co Pty Ltd.
- Georgia-Pacific.
- Greenland Particle Boards Pvt Ltd.
- Kastamonu Entegre
- K-Board Ply.
- Krifor Industries Pvt. Ltd.
- Roseburg Forest Products
- Shell Laminates Private Limited.
- Timber Products Company
- Wan Hua He Xiang Board Co.,Ltd
- West Fraser
Competitive Landscape
Key players competing in the global particle board market are Asian Prelam Industries Pvt. Ltd.; Boise Cascade.; CenturyPly; Columbia Forest Products, Inc.; D&R Henderson Pty Ltd.; Dakota Premium Hardwoods, LLC.; DMK PARTICLEBOARD LLP; EverGreen Boardlam Pvt. Ltd.; FA Mitchell & Co Pty Ltd.; Georgia-Pacific.; Greenland Particle Boards Pvt Ltd.; Kastamonu Entegre; K-Board Ply.; Krifor Industries Pvt. Ltd.; Roseburg Forest Products; Shell Laminates Private Limited.; Timber Products Company; Wan Hua He Xiang Board Co.,Ltd; and West Fraser.
These companies are boosting their market share by adopting various strategies such as partnerships, mergers, reduction in production costs, launching new products, and implementing advanced technologies.
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On July 26, 2022, Kastamonu Entegre, one of the global wood-based panel suppliers announced a partnership with Siempelkamp to set up a new particleboard plant in Kastamonu City. This new plant will help Kastamonu Entegre to expand its operations in the domestic furniture industry.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Particle Board Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Particle Board Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Particle Board Market - Supply Chain
4.5. Global Particle Board Market Forecast
4.5.1. Particle Board Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Particle Board Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Particle Board Market Absolute $ Opportunity
5. Global Particle Board Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Particle Board Market Size and Volume Forecast by Applications
5.3.1. Construction
5.3.2. Furniture
5.3.3. Infrastructure
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Particle Board Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Particle Board Market Size and Volume Forecast by End Users
6.3.1. Residential Construction
6.3.2. Commercial Construction
6.3.3. Industrial Construction
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Particle Board Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Particle Board Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Particle Board Demand Share Forecast, 2019-2026
8. North America Particle Board Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Particle Board Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Particle Board Market Size and Volume Forecast by Applications
8.4.1. Construction
8.4.2. Furniture
8.4.3. Infrastructure
8.4.4. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Particle Board Market Size and Volume Forecast by End Users
8.7.1. Residential Construction
8.7.2. Commercial Construction
8.7.3. Industrial Construction
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Particle Board Demand Share Forecast, 2019-2026
9. Latin America Particle Board Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Particle Board Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Particle Board Market Size and Volume Forecast by Applications
9.4.1. Construction
9.4.2. Furniture
9.4.3. Infrastructure
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Particle Board Market Size and Volume Forecast by End Users
9.7.1. Residential Construction
9.7.2. Commercial Construction
9.7.3. Industrial Construction
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Particle Board Demand Share Forecast, 2019-2026
10. Europe Particle Board Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Particle Board Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Particle Board Market Size and Volume Forecast by Applications
10.4.1. Construction
10.4.2. Furniture
10.4.3. Infrastructure
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Particle Board Market Size and Volume Forecast by End Users
10.7.1. Residential Construction
10.7.2. Commercial Construction
10.7.3. Industrial Construction
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Particle Board Demand Share Forecast, 2019-2026
11. Asia Pacific Particle Board Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Particle Board Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Particle Board Market Size and Volume Forecast by Applications
11.4.1. Construction
11.4.2. Furniture
11.4.3. Infrastructure
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Particle Board Market Size and Volume Forecast by End Users
11.7.1. Residential Construction
11.7.2. Commercial Construction
11.7.3. Industrial Construction
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Particle Board Demand Share Forecast, 2019-2026
12. Middle East & Africa Particle Board Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Particle Board Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Particle Board Market Size and Volume Forecast by Applications
12.4.1. Construction
12.4.2. Furniture
12.4.3. Infrastructure
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Particle Board Market Size and Volume Forecast by End Users
12.7.1. Residential Construction
12.7.2. Commercial Construction
12.7.3. Industrial Construction
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Particle Board Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Particle Board Market: Market Share Analysis
13.2. Particle Board Distributors and Customers
13.3. Particle Board Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Asian Prelam Industries Pvt. Ltd.
13.4.2. Boise Cascade.
13.4.3. CenturyPly
13.4.4. Columbia Forest Products, Inc.
13.4.5. D&R Henderson Pty Ltd.
13.4.6. Dakota Premium Hardwoods, LLC.
13.4.7. DMK PARTICLEBOARD LLP
13.4.8. EverGreen Boardlam Pvt. Ltd.
13.4.9. FA Mitchell & Co Pty Ltd.
13.4.10. Georgia-Pacific.
13.4.11. Greenland Particle Boards Pvt Ltd.
13.4.12. Kastamonu Entegre
13.4.13. K-Board Ply.
13.4.14. Krifor Industries Pvt. Ltd.
13.4.15. Roseburg Forest Products
13.4.16. Shell Laminates Private Limited.
13.4.17. Timber Products Company
13.4.18. Wan Hua He Xiang Board Co.,Ltd
13.4.19. West Fraser
Methodology
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