Particle Board Market Top Performer and Global Demand, 2022
The factors that are playing a major role in the growth of the market are easy availability of raw materials, high demand for particle board in the furniture industry, and its unique sound-absorbing properties.
(firmenpresse) - Global Particle Board Market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Particle board is also termed as chipboard or low-density fiberboard (LDF). It is an engineered wood product manufactured from synthetic resin, wood chips, sawdust, or sawmill shavings by heat pressing method. Chemicals like release agents, wax, wetting agents, and dyes are used to make the final product insect-proof, water resistant, and fireproof.
The factors that are playing a major role in the growth of the market are easy availability of raw materials, high demand for particle board in the furniture industry, and its unique sound-absorbing properties. However, the presence of alternatives may restrain overall market growth in the years to come. Particle board market is segmented based on raw material, end-user, and region.
Bagasse, wood, and the other raw material could be explored in particle board in the forecast period. The wood sector comprises chips, shavings, sawdust, and flakes. The wood sector accounted for the significant market share of particle board and is estimated to lead the overall market in the years to come.
The market may be categorized based on end-users like infrastructure, construction, furniture, and others that could be explored in the forecast period. Furniture sector accounted for the substantial market share of particle board and is estimated to lead the overall market in the years to come. The reason behind the growth of this sector could be changing lifestyle and preference for furniture style. In addition, the construction sector is estimated to grow at the fastest pace in the years to come.
Globally, Europe accounted for the significant market share of particle board and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be developing construction industry in this region. Instead, North America and the Asia Pacific are also estimated to have a positive influence on future growth. North America is the second largest region with significant market share.
However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise growth in construction and furniture industry and government initiative by approval of the GST bill. The developing countries like India and China are the major consumers of particle board in this region.
The key players of particle board market are UPM, Associate Decor Limited, Uniboard, Boise Cascade, Timber Products Company, D&R Henderson Pty Ltd., Sierra Pine, Green Land Particle Boards, Siam Riso Wood Products, Krifor Industries, Sahachai Particle Board Co., Ltd., Menard Inc., Roseburg, and Panel World. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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particle-board-market
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particle-board-industry
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Datum: 24.03.2020 - 09:20 Uhr
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