Press release
India Wood Based Panels Market Estimated to reach USD 6,243.10 Million By 2033
The report also includes competitor and regional analysis, along with a breakdown of segments within the industry. The India wood based panels market size reached USD 1,570.30 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 6,243.10 Million by 2033, exhibiting a growth rate (CAGR) of 14.80% during 2025-2033.
Report Attribute and Key Statistics:
Base Year: 2024
Forecast Years: 2025-2033
Historical Years: 2019-2024
Market Size in 2024: USD 1,570.30 Million
Market Forecast in 2033: USD 6,243.10 Million
Market Growth Rate (2025-2033): 14.80% CAGR
Overview of India Wood Based Panels Market:
India wood based panels market is witnessing strong growth, fueled by the growing construction and infrastructure markets, growing need for modular furniture, and expanding consumer demand for interior solutions with aesthetic appeal. Government policies focusing on sustainable forest management and constant innovation in panel technology further enhance the market. The trend of using environmentally friendly building materials leads to wood based panels being used as a product of choice both in residential and commercial sectors.
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India Wood Based Panels Market Trends and Drivers:
The Indian construction sector, accounting for about 8% of the GDP with an estimate of about USD 126 billion, acts as a strong propeller for the wood based panels market. These panels find wide usage in construction applications like flooring, wall paneling, and roofing due to their high strength and versatility. Government programs such as the Urban Infrastructure Development Fund (UIDF), which will provide USD 1.2 billion every year to improve infrastructure in Tier-2 and Tier-3 cities, further boost demand for high-quality building materials, such as wood based panels. Moreover, the changing consumer trends towards high-end and comfortable home interiors have increased the demand for decorative and functional interior products, making wood based panels a first choice solution for contemporary interior design requirements.
Critical factors driving the market are the boom in modular furniture demand fuelled by urbanisation and shifts in lifestyle that calls for dynamic and long-lasting material such as wood based panels. Government regulations endorsing sustainable forest policies guarantee consistent supplies of raw material, supporting the growth in the market. Innovative technologies developed for panel making raise product standards and widen uses. In addition, the growing awareness and demand for green and sustainable building materials among consumers and developers alike play a major role in driving the market's growth.
Browse Full Report with TOC & List of Figures: https://www.imarcgroup.com/india-wood-based-panels-market
India Wood Based Panels Market of Key Growth Drivers:
• Expansion of the construction sector, contributing 8% to India's GDP.
• Government initiatives like the Urban Infrastructure Development Fund (UIDF) enhancing infrastructure in Tier-2 and Tier-3 cities.
• Rising demand for modular and functional furniture due to urbanization.
• Increasing consumer preference for aesthetically appealing and eco-friendly interior solutions.
• Technological advancements in panel manufacturing improving product quality and applications.
• Government policies promoting sustainable forestry ensuring raw material availability.
India Wood Based Panels Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional and national levels for 2025-2033. The report has categorized the market based on product type, distribution channel, application, and region.
Product Type Insights:
• Medium Density Fiberboard (MDF)/High Density Fiberboard (HDF)
• Oriented Strand Board (OSB)
• Particleboard
• Softboard and Hardboard
• Plywood
• Others
Distribution Channel Insights:
• Direct Sales
• Online Stores
• Specialty Stores
• Others
Application Insights:
• Furniture
• Construction
• Packaging
• Others
Regional Insights:
• North India
• West and Central India
• South India
• East India
Competitive Landscape:
The market research report has also provided an in-depth analysis of competition. Competitive analysis such as market structure, positioning of major players, winning strategies of leading players, competitive dashboard, and company evaluation quadrant have been provided in the report. Additionally, full-profile analysis of all major players has been provided.
Key companies include:
• Greenply Industries Limited
• Century Plyboards (India) Limited
• Rushil Decor Limited
• Action TESA
• Archidply Industries Limited
• Kitply Industries Limited
• Merino Industries Limited
• Uniply Industries Limited
• Mangalam Timber Products Limited
• National Plywood Industries Limited
India Wood Based Panels Market News:
• March 2025: Greenply Industries announced the launch of a new range of eco-friendly plywood products, aligning with the growing consumer demand for sustainable building materials.
• January 2025: Century Plyboards inaugurated a state-of-the-art manufacturing facility in Gujarat, aiming to increase production capacity and meet the rising market demand.
• December 2024: Rushil Decor Limited reported a 20% year-on-year increase in revenue, attributed to the surge in demand for modular furniture and interior solutions.
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
Ask an analyst for your customized sample: https://www.imarcgroup.com/request?type=report&id=31524&flag=C
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No.: +91 120 433 0800
Americas: +1 631 791 1145 | Asia: +91-120-433-0800 | UK: +44-753-714-6104
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company's expertise.
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