In 2023, the actual production volume of particle board in India stood at 1.437 million cubic meters. The forecasted data for 2024 to 2028 suggests a consistent upward trend. The year-on-year growth rates are as follows:
- 2024: 4.79%
- 2025: 4.67%
- 2026: 4.42%
- 2027: 4.18%
- 2028: 3.98%
Evaluating the data over a five-year period from 2024 to 2028, the compound annual growth rate (CAGR) stands at approximately 4.41%.
Future trends to watch for include the impact of government policies on the construction and furniture sectors, increased demand for sustainable and eco-friendly materials, and technological advancements in particle board manufacturing. Monitoring these factors will provide deeper insights into the particle board production landscape in India.
