The latest report by IMARC Group titled, “Particle Board Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global particle board market reached a value of US$ 17 Billion in 2016, growing at a CAGR of nearly 6% during 2009-2016. Particle board, also known as chipboard, is an engineered wood product. It is made from pieces of sawmill shavings, sawdust, and wood chips, which are glued together with synthetic resin, or other suitable binders. The composite material is further extruded and pressed together to make sheets of particle boards.
Highlights of the global particle board market:
- The market is driven by its structural properties and widening applications.
- The residential sector is the largest consumer of particle board.
- Europe is the largest market, accounting for the majority of the share.
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The market for particle board is driven by several factors. Ease in installation, uniformity, and affordability are some of the important factors which are contributing to the growth of the market. Additionally, particle board is also one of the lightest types of fibreboard, despite its high density. Another major factor escalating the demand for particle board is its increasing applications. It is used for a variety of purposes, such as in the manufacturing of cupboards, doors, modular office systems, modular partition systems, storage units, etc. Particle boards are also being increasingly used in recording studios and concert venues, as these boards display excellent sound-absorption properties. Owing to these factors, the market is further expected to reach a value of US$ 23 Billion by 2022.
The market is segmented on the basis of key applications including residential and commercial. The residential sector is the largest consumer of particle board, accounting for the majority of the share. The market is also segmented on the basis of key regions. Some of the major markets are Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. Amongst these, Europe represents the largest market for particle board. An analysis of the competitive landscape provides the details of the key players operative in the market. Some of the major players include Kastamonu, Roseburg, Norbord, Boise Cascade, and Columbia.
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The report has examined the global particle board market on the basis of:
Key Applications:
- Residential
- Commercial
Key Region:
- Asia Pacific
- North America
- Europe
- Latin America
- Middle East and Africa
Key Players:
- Kastamonu
- Roseburg
- Norbord
- Boise Cascade
- Columbia
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