Global Particle Board Market Size, Share, Price Trends And Forecast 2018-2023
Over the years, the global particle board market has been growing at a healthy rate.
Some of the remarkable characteristics of particle board which are resulting in its widespread use include affordability, uniformity, easy installation, light-weight and eco-friendly nature.
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.
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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.