Particle Board Market Size - By Product Type, By Application, By End-use, By Distribution Channel Analysis, Share, Growth Forecast, 2024 - 2032

Particle Board Market Size

The global particle board market was valued at USD 25.4 billion in 2023 and is estimated to grow at a CAGR of over 5.5% from 2024 to 2032.
 

The particle board market is witnessing tremendous growth in relation to certain aspects of demand that are connected to increasingly more global, socioeconomic, and technological trends. The growth of the construction industry, especially in developing countries where there is a rising demand for economic and practical furniture catering to the growing middle class from urbanization, is one of the foremost mere trends that spurs the developments of particle board. Particle board is a highly multifunctional and cost-effective material which is considerably used in the making of ready-to-assemble (RTA) furniture, cabinets, and storage devices.
 

Considering the growing urban population of consumers who are in constant search of inexpensive yet good quality furniture, the affordability and the strong sturdy nature of particle board being a substitute for solid wood makes this product an appealing option and improves its chances of being actively sought after by manufacturers and consumers alike. Furthermore, the growing trend of DIY furniture further increases the excessive use of particle board which is cheap and highly durable alongside easy to customize as one feels fit. Also, there has been a growing production space for flat-pack furniture, which prominently uses particle board, alongside the growth of e-commerce and online purchases for furniture.
 

Particle Board Market Trends

• The aspect of sustainability has recently emerged as a crucial trend in the market due to the consumers optimal demand for such products.
   
• Manufacturers are progressively using recycled by-products which includes sawdust, wood chips and other wood fibre wastes in the manufacture of particle board.
   
• This shift takes to account the international drive towards minimising deforestation and reducing carbon footprints in manufacturing. There is additionally an increasing move towards the use of low-emission particle boards that do not contain formaldehyde or other harmful substances.
   
• Such boards are produced using safe, non-hazardous, and eco-sensitive adhesives and binding agents which comply with the health and environmental protection regulations in regions such as Europe and North America.
   

Particle Board Market Analysis

• Moreover, the worldwide enhancement in customers' desire towards eco-friendly products is yet another factor escalating the growth of particle board demand. As customers develop control over their spending, they tend to purchase items that are environmentally friendly.
   
• This change in purchasing behavior is specifically manifest in terrains where the promotion of green construction and sustainable interior designing takes centre stage, say in the American, European, and some Asian regions. Particle boards made with wood fibres that have been procured from eco-friendly sources, and which have been processed in a sustainable manner satisfy the consumers' increased request for eco-friendly construction materials.
   
• Also, being inexpensive and versatile, the material provides more scope for design creativity enabling architects and interior designers to develop appealing interiors that are eco-friendly while observing budget cuts. The construction industry would require such low-cost eco-friendly materials and this demand for particle boards materials is expected to rise strongly as the world economy grows.
   

Based on the type of product offered, the particle board market can be divided into bare board, laminated board. The bare board segment generated an approximate revenue of USD 15.4 billion in the year 2023 and is predicted to increase at a slower CAGR of approximately 5.7% from the year 2024-2032.
 

• Bare boards are cheaper to make and buy than laminated boards. These cost benefits enhance their appeal to a wide range of price-sensitive buyers and markets, including low-cost housing, construction, and the manufacturing of furniture items.
   
• In lower-end applications, bare boards are primarily used as a structural core for furniture, cabinets, and wall panels, where the decorative materials can be added later to the overall look.
   

According to the application, the particle board market is divided into furniture, flooring, cabinets, doors, wall cladding, ceiling panels, packaging, and others. The furniture segment accounted for approximately 41% of the overall market in 2023 and is expected to maintain that ratio through 2025.
 

• As ready-to-assemble furniture is mass-produced, Particle board being the cheaper alternative is quite popular since it is a lot cheaper than solid wood and other materials.
   
• With urbanization at its peak and the need for modern consumer furniture still left unchecked, particle board remains an attractive option.
   

North America's particle board market is significantly dominated by the US, with a staggering market share of 82%.
 

• The demand for decent housing is on the rise due to urbanization in key US and Canadian cities, while simultaneously the market faces increasing home prices. This in turn implies that the need for budget-friendly construction alternatives is high.
   
• On a structural level, particle board competitively prices itself in comparison to plywood and other solid wood materials while still being able to serve as a viable option for subflooring. The market for RTA furniture in the US is increasing day by day, and with companies such as IKEA removing particle boards out of the equation, there is no chance of the trend slowing down anytime soon.
   
• The high selling rate of furniture bought through online platforms acts as an added motivator for the increasing demand for particle boards as well.
   

Particle Board Market Share

Major companies including Kronospan and Egger Group managed to capture market shares amounting from 5% to 10% in 2023. To gain a stronghold in the industry, these companies attempt to expand their product lines through mergers, facility expansions, acquisitions, and other approaches.
 

Those resellers that maintain the highest standards in their product quality and performance usually obtain a competitive advantage. Meeting the stringent testing and refurbishment requirements is important for earning the trust of the customer. Granting warranties or return policies may help differentiate the resellers in that market. Providing customer support and repair services increases buyer confidence in resellers thereby making them more desirable. An active online presence with well-designed websites and social media accounts allows resellers to reach a larger population. Marketing strategies may also help them stand out from the competition.
 

Particle Board Market Companies

Major players operating in the Particle Board industry are:

• Arauco
• Daewon Industrial
• Duratex
• Egger Group
• Finsa
• Georgia-Pacific
• Homanit
• Kastamonu Entegre
• Kronospan
• Masonite
• Nelson Pine
• Pfleiderer
• Sumitomo Forestry
• Swedish Wood
• Uniboard
   

Particle Board Industry News

• In January 2024, Boise Cascade announced that it will be investing approximately Canada $140 million towards the engineered wood products strategy with a focus on expanding its operational base in Louisiana and Alabama. New capabilities for the I-joist production are of course to be added to the Thorsby EWP mill located in Alabama. Meanwhile, the Oakdale facility in Louisiana is being upgraded in a number of ways, including the replacement of an existing dryer with a new veneer dryer and construction of a new log utilization center. All of these projects are likely to be completed in a couple of years.
   
• In December 2023, Kronospan acquired the particle board factory in Simsboro, Louisiana, with the sole objective of expanding them in the US market. Kronospan set about looking to modernize the facility, after gaining significant experience in previous acquisitions, politically endorsed.
   

This Particle Board market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) & volume (Thousand Square Feet) from 2021 to 2032, for the following segments:

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Market, By Product Type

• Bare board
  • Single-layer particle board
  • Three-layer particle board
  • Graded-density particle board
  • Cement-bonded particle board
  • Others
• Laminated particle board
  • Veneered particle board
  • Melamine particle board
  • Others

Market, By Application

• Furniture
• Flooring
• Cabinets
• Doors
• Wall cladding
• Ceiling panels
• Packaging
• Others (countertop, shutter, etc.)

Market, End-use

• Residential
• Commercial
• Industrial

Market, Distribution Channel

• Direct
• Indirect

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa