Global Particle Board Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Particle Board Market: Overview

The Particle Board Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.

Particleboard which is also called low-density fiberboard (LDF) or chipboard, is an engineered wood-based product obtained through sawmill shavings, wood chips, or sawdust, which is further pressed and extruded.

Particle board consists of different properties and benefits including light-weight in nature, temperature and moisture resistance, lower in cost, and available in various types according to their density.

Increasing renovation and construction activities across the globe are one of the key factors expected to drive the growth of the target market.

In addition, rapid urbanization and inclination towards adding an aesthetic look to the interior of the building, coupled with increased spending capacity are some additional factors among others projected to support the revenue growth of the global market.

These boards serve as a cost-effective alternative for the plywood, which is another factor anticipated to fuel the growth revenue of the global market over the forecast period.

However, the lower durability of the particle board as compared to plywood is a major factor expected to restrain the global market growth over the forecast period.

In addition, the availability of alternative materials including medium-density fiberboard is another factor that may hamper the target market growth to a certain extent.

Particle Board Market: Segmental Analysis

The shavings segment is projected to register significant growth among the raw material segments.

Among the application segments, the furniture segment is anticipated to account for significant shares of the global market, in terms of revenue, owing to increasing demand for low-cost and aesthetic furniture globally.

Among the end-user segments, the residential segment is projected to register substantial growth over the forecast period. This can be attributed to increasing residential construction activities and demand for cost-effective household furniture worldwide.

Particle Board Market: Regional Analysis

Asia Pacific market for particle board is projected to account for significant revenue shares of the target market. This can be attributed to the ample availability of the raw materials required for manufacturing the particleboard.

In addition, the strong presence of the furniture manufacturing industry in developing countries such as India and China is a factor projected to support the revenue growth of the target market in this region.

Increasing demand for better accommodation facilities coupled with increasing spending capacity results in growing residential construction projects, which is expected to support the growth of the target market.

The market in North America and Europe are projected to dominate the particleboard and continue dominance over the forecast period, which can be attributed to the changing lifestyle of the population coupled with high disposable income.

Particle Board Market Segmentation:

Segmentation by Raw Material:

• Shavings
• Flakes
• Sawdust
• Chip

Segmentation by Application:

• Furniture
• Construction

Segmentation by End User:

• Residential
• Commercial
• Industrial

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa