India: Particle Board Market 2024

Particle Board Market Size in India

The Indian particle board market amounted to $X in 2022, remaining constant against the previous year. Over the period under review, consumption, however, continues to indicate buoyant growth. Particle board consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Particle Board Production in India

In value terms, particle board production expanded to $X in 2022 estimated in export price. In general, production, however, posted a resilient expansion. The growth pace was the most rapid in 2015 when the production volume increased by 95%. Particle board production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Particle Board Exports

Exports from India

In 2022, shipments abroad of particle board increased by 77% to X cubic meters, rising for the second year in a row after two years of decline. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2014 with an increase of 141%. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, particle board exports skyrocketed to $X in 2022. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 101% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Saudi Arabia (X cubic meters), Nepal (X cubic meters) and Sri Lanka (X cubic meters) were the main destinations of particle board exports from India, together accounting for 80% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +148.0%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Nepal ($X) and Sri Lanka ($X) constituted the largest markets for particle board exported from India worldwide, together comprising 78% of total exports.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of +126.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average particle board export price stood at $X per cubic meter in 2022, with a decrease of -19.2% against the previous year. Overall, the export price saw a drastic downturn. The pace of growth was the most pronounced in 2013 when the average export price increased by 37%. As a result, the export price reached the peak level of $X per cubic meter. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per cubic meter), while the average price for exports to Mozambique ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-0.4%), while the prices for the other major destinations experienced a decline.

Particle Board Imports

Imports into India

In 2022, overseas purchases of particle board were finally on the rise to reach X cubic meters after two years of decline. Overall, imports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 63%. Imports peaked at X cubic meters in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, particle board imports soared to $X in 2022. Over the period under review, imports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 46% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X cubic meters), Malaysia (X cubic meters) and Bangladesh (X cubic meters) were the main suppliers of particle board imports to India, with a combined 79% share of total imports. Bhutan, Germany, Romania and China lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +55.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest particle board suppliers to India were Thailand ($X), Malaysia ($X) and Germany ($X), together accounting for 65% of total imports. Bhutan, China, Bangladesh and Romania lagged somewhat behind, together accounting for a further 21%.

Romania, with a CAGR of +51.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average particle board import price stood at $X per cubic meter in 2022, surging by 14% against the previous year. Overall, the import price, however, showed a slight shrinkage. The growth pace was the most rapid in 2021 when the average import price increased by 53%. Over the period under review, average import prices reached the maximum at $X per cubic meter in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per cubic meter), while the price for Bangladesh ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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