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 2019-2024” by IMARC Group estimates that the global particle board market was worth US$ 19.3 Billion in 2018. The report further anticipates the market to reach US$ 25 Billion by 2024, at a projected CAGR of 4.2% over the forecast period.
Global Particle Board Market Drivers/Constraints:
Residential and Commercial Applications Insights:
On the basis of residential and commercial applications, residential represents the largest segment, followed by commercial.
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:
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