Particle board, also known as low-density fibreboard (LDF), refers to an engineered wood which is produced using a mixture of sawmill shavings, wood chips, sawdust, and a synthetic resin. These raw materials are then pressed together and extruded in order to form a sheet of particle board. Particle board finds vast applications as a building material in several global building projects. Additionally, a variety of particle boards is available in the market based on their sizes, density, geometry of particle and amount of adhesive used. A new research report titled “Particle Board Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” by IMARC Group estimates that the global particle board market was worth US$ 18 Billion in 2017. The report further anticipates the market to reach US$ 25 Billion by 2023, at a projected CAGR of nearly 6% over the forecast period.
Global Particle Board Market Drivers/Constraints:
- Particle board is considered as one of the significant construction materials as it is dense, affordable, uniform, light-weight, easy to install and environment-friendly in nature. This represents one of the primary factors which is facilitating the growth of the global particle board market.
- Particle board is widely used in recording studios and concert venues on account of its remarkable sound-absorbing properties. Moreover, it is also used in preparing household furniture like doors, windows, bookcases, cupboards, kitchen cabinets and modular partition systems.
- Particle board is considered as one of the lightest fibre-board type owing to which it is extensively used for enhancing the aesthetic appeal of an institution by painting and laminating it.
- However, particle board retains moisture and once the moisture penetrates, it is bound to weaken, lose its characteristic strength and darken its colour. Therefore, unless it is treated with a sealing agent, particle board can not be used for outdoor purposes.
Residential and Commercial Applications Insights:
On the basis of residential and commercial applications, residential represents the largest segment, followed by commercial.
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Construction and Replacement Applications Insights:
Based on construction and replacement applications, the market is dominated by new construction segment which is followed by replacement.
Regional Insights:
On a geographical front, Europe enjoys a leading position in the global particle board market, accounting for the largest share of the market on account of growing construction industry in the region. Some of the other major markets include Asia Pacific, North America, Latin America, and Middle East and Africa.
Competitive Landscape:
The market is fragmented in nature with the presence of many small and large manufacturers who are competing in terms of prices and quality. There is a tough competition in the market which makes it difficult for small players to survive. Some of the leading players operating in the market are:
- Kastamonu
- Roseburg
- Norbord
- Boise Cascade
- Columbia
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