Particle Board Market: Global Opportunity Analysis and Industry Forecast, 2021-2031 Market

Particle board is the wooden board that is made of chips of wood, sawdust which is glued together and compressed under hot temperature. The materials that are used to manufacture particle board are sawdust, wooden flakes, glue, shavings, and chips. Thus, it also named as chipboard. Particle boards are available in various types according to their geometry and density. They are most often used as an building material in various construction projects. They are further used as the substitute to plywood in furniture manufacturing. Particle boards are more denser and smoother than the plywood. Moreover, they are environment-friendly than plywood as particle board are made of wooden chips, while the plywood are made from the veneer of timber.

COVID-19 scenario analysis:

• The demand for the particle board is expected to decrease in the year 2020 due to lockdown imposed by the government and low demand from construction industries.
• Coronavirus has affected the import and export of construction materials. China is the largest exporter of construction materials globally. Negative trends in the economy of China are anticipated to reduce the global import and export throughout the globe.
• Demand for new construction materials have witnessed a massive negative shift since the corona outbreak in December 2019, with manufactures and investors fearing an excessively receding economic growth.
• Travel prohibitions around the globe have affected the trade of construction materials. Thus, the supply and demand for construction materials are almost halted throughout the globe.
• Construction materials manufacturing companies located in China, are the major sufferers of from the virus outbreak, owing to lockdown and unavailability of logistics in the region.
• The major hindrance for the global construction materials market comes from the orders of home quarantine by respective governments, which has led to the discontinuing of production of construction materials.
•  Decreased consumer demand and consumption have led to reduction and slowdown of sales of construction materials all over the globe over the course of the current economic year.
• Therefore, the particle board market is expected to be negatively affected in 2020.

Top impacting factors: market scenario analysis, trends , drivers, and impact analysis

Increasing demand for the furniture in various residential and commercial areas such as office spaces is driving the particle board market. Increasing number of interior designing and construction activities is significantly driving the growth of particle board market. Increasing ecological products in the market is growing the demand for the particle board owing to its recyclable properties. The particle boards act as an cost effective substitute to the plywood boards which can be a major growth driver for the particle board market. Further, the particle board comes in various geometrical shapes and in different sizes. For example, a large cabinet can be made with a single particle board without any joints. Thus, acting as a growth driver for particle board market. Asia- pacific region countries like India, China and Japan to witness a significant growth in the market of particle board due to increasing infrastructure, commercial & residential buildings and their furniture industries. However, the low quality and less durability compared to the plywood material can be a major restraint that can hamper the growth of the market. 

The global particle board market trends are:

New product launches to flourish the market

In the past few years, the particle board is gaining popularity in terms of cost effective engineered wood panel in many commercial applications. On January 2018, one of the global leader in the wood panels Uniboard has launched a NU Green medium density particle board. The NU green MDF is Forest Stewardship Council certified and is rated as MR10 product. These particle board can be used in the interior designing of residential and commercial buildings. These particle board are fire resistant, and has a recycled wood chips and flakes. These product is generally used for flooring, office furniture, cabinets and other such applications.  

High demand from applications :

The particle board is used as a building material which is gaining popularity due to its various applications, low cost and an eco-friendly product. The various applications include flooring, wall paneling, false ceilings, door material, furniture and in other commercial applications. The particle board is used as a flooring material in buildings where the load of the material is considered as the priority. Further, the laminated particle board is used in the partitioning of wall and giving an aesthetic look to the wall. Moreover, the particle board is used in the wall as they have thermal and sound insulation properties. It is used as false ceiling in the air conditioned rooms due to their thermal insulation properties. The particle board is also used in the furniture industry for making of beds, cabinets, shoe racks, tables and others such products. 

Key benefits of the report:

• This study presents the analytical depiction of the particle board market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the particle board market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the particle board market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

 Particle Board Market: Global Opportunity Analysis and Industry Forecast, 2020-2027 Report Highlights