Particle Board Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
Description
The Global Particle Board Market, valued at USD 25.4 billion in 2023, is projected to grow at a robust CAGR of 5.5% from 2024 to 2032. This growth is fueled by increasing demand across various sectors, driven by economic, societal, and technological advancements.
One of the primary drivers of this market expansion is the rapidly growing furniture industry, particularly in developing regions. Urbanization and the rising middle class are creating a demand for affordable, functional furniture. Particle board, known for its cost-efficiency and versatility, is widely used in manufacturing ready-to-assemble (RTA) furniture, cabinets, and storage solutions. Its affordability and adaptability make it the preferred choice for both consumers and manufacturers alike.
The market is divided into two major segments: bare and laminated boards. The bare board segment generated USD 15.4 billion in 2023 and is expected to grow at a CAGR of 5.7% through 2032. The low production cost of bare boards makes them an attractive option for industries and consumers focused on budget-friendly solutions. These boards are commonly used in affordable housing projects, construction, and furniture production due to their practicality and cost-effectiveness.
When it comes to applications, the particle board market spans various industries, including furniture, cabinets, flooring, doors, ceiling panels, wall cladding, and packaging. The furniture sector held a dominant 41% share in 2023 and is projected to maintain a growth rate of 5.7% from 2024 to 2032. The combination of affordability and suitability for mass production makes particle boards a go-to material for furniture manufacturers seeking to meet the rising demand for stylish yet affordable furniture in urban areas.
In the U.S., the particle board market accounted for a significant 82% share in 2023. Urbanization and growing housing demands in major cities have led to an increase in the need for cost-effective construction materials. As home prices continue to rise, particle board has become a practical alternative to more expensive materials like solid wood and plywood, with applications in subflooring, walls, and other structural elements.
One of the primary drivers of this market expansion is the rapidly growing furniture industry, particularly in developing regions. Urbanization and the rising middle class are creating a demand for affordable, functional furniture. Particle board, known for its cost-efficiency and versatility, is widely used in manufacturing ready-to-assemble (RTA) furniture, cabinets, and storage solutions. Its affordability and adaptability make it the preferred choice for both consumers and manufacturers alike.
The market is divided into two major segments: bare and laminated boards. The bare board segment generated USD 15.4 billion in 2023 and is expected to grow at a CAGR of 5.7% through 2032. The low production cost of bare boards makes them an attractive option for industries and consumers focused on budget-friendly solutions. These boards are commonly used in affordable housing projects, construction, and furniture production due to their practicality and cost-effectiveness.
When it comes to applications, the particle board market spans various industries, including furniture, cabinets, flooring, doors, ceiling panels, wall cladding, and packaging. The furniture sector held a dominant 41% share in 2023 and is projected to maintain a growth rate of 5.7% from 2024 to 2032. The combination of affordability and suitability for mass production makes particle boards a go-to material for furniture manufacturers seeking to meet the rising demand for stylish yet affordable furniture in urban areas.
In the U.S., the particle board market accounted for a significant 82% share in 2023. Urbanization and growing housing demands in major cities have led to an increase in the need for cost-effective construction materials. As home prices continue to rise, particle board has become a practical alternative to more expensive materials like solid wood and plywood, with applications in subflooring, walls, and other structural elements.
Table of Contents
220 Pages
- Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculations.
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
- Chapter 2 Executive Summary
- 2.1 Industry synopsis, 2021-2032
- Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain.
- 3.1.2 Profit margin analysis.
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.2 Supplier landscape
- 3.3 Profit margin analysis.
- 3.4 Key news & initiatives
- 3.5 Regulatory landscape
- 3.6 Impact forces
- 3.6.1 Growth drivers
- 3.6.1.1 Increasing construction activities
- 3.6.1.2 Growing furniture market
- 3.6.2 Industry pitfalls & challenges
- 3.6.2.1 Market saturation and intense competition
- 3.6.2.2 Sustainability concerns
- 3.7 Growth potential analysis
- 3.8 Porter’s analysis
- 3.9 PESTEL analysis
- Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
- Chapter 5 Market Estimates & Forecast, By Product Type, 2021-2032 (USD Billion) (Thousand Square Feet)
- 5.1 Key trends
- 5.2 Bare board
- 5.2.1 Single-layer particle board
- 5.2.2 Three-layer particle board
- 5.2.3 Graded-density particle board
- 5.2.4 Cement-bonded particle board
- 5.2.5 Others
- 5.3 Laminated particle board
- 5.3.1 Veneered particle board
- 5.3.2 Melamine particle board
- 5.3.3 Others
- Chapter 6 Market Estimates & Forecast, By Application, 2021-2032 (USD Billion) (Thousand Square Feet)
- 6.1 Key trends
- 6.2 Furniture
- 6.3 Flooring
- 6.4 Cabinets
- 6.5 Doors
- 6.6 Wall cladding
- 6.7 Ceiling panels
- 6.8 Packaging
- 6.9 Others (countertop, shutter, etc.)
- Chapter 7 Market Estimates & Forecast, By End-use, 2021-2032 (USD Billion) (Thousand Square Feet)
- 7.1 Key trends
- 7.2 Residential
- 7.3 Commercial
- 7.4 Industrial
- Chapter 8 Market Estimates & Forecast, By Distribution Channel, 2021-2032 (USD Billion) (Thousand Square Feet)
- 8.1 Key trends
- 8.2 Direct
- 8.3 Indirect
- Chapter 9 Market Estimates & Forecast, By Region, 2021-2032 (USD Billion) (Thousand Square Feet)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Russia
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 Australia
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.6 MEA
- 9.6.1 UAE
- 9.6.2 Saudi Arabia
- 9.6.3 South Africa
- Chapter 10 Company Profiles
- 10.1 Arauco
- 10.2 Daewon Industrial
- 10.3 Duratex
- 10.4 Egger Group
- 10.5 Finsa
- 10.6 Georgia-Pacific
- 10.7 Homanit
- 10.8 Kastamonu Entegre
- 10.9 Kronospan
- 10.10 Masonite
- 10.11 Nelson Pine
- 10.12 Pfleiderer
- 10.13 Sumitomo Forestry
- 10.14 Swedish Wood
- 10.15 Uniboard
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