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    India Wood Based Panels Market

    ID: MRFR/PNT/55395-HCR
    111 Pages
    Snehal Singh
    September 2025

    India Wood-Based Panels Market Research Report By Product (MDF, HDF, OSB, Particleboard, Plywood, Others) and By Application (Construction, Furniture, Packaging)- Forecast to 2035

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    India Wood Based Panels Market Research Report - Forecast 2035 Infographic
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    Table of Contents

    India Wood Based Panels Market Summary

    The India Wood-Based Panels market is projected to grow significantly from 8.75 USD Billion in 2024 to 21.2 USD Billion by 2035.

    Key Market Trends & Highlights

    India Wood-Based Panels Key Trends and Highlights

    • The market is expected to experience a compound annual growth rate of 8.4 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 21.2 USD Billion, indicating robust growth potential.
    • In 2024, the market is valued at 8.75 USD Billion, reflecting a strong foundation for future expansion.
    • Growing adoption of sustainable building materials due to increasing environmental awareness is a major market driver.

    Market Size & Forecast

    2024 Market Size 8.75 (USD Billion)
    2035 Market Size 21.2 (USD Billion)
    CAGR (2025-2035) 8.4%

    Major Players

    Garnet Industries, Action Tesa, Nerolac Paints, Apex Laminates, Merino Laminates, Duroflex, Platinum Plywood, Bansal Plywood, Greenply Industries, Sarda Plywood, Interface, Century Plyboards, Vinayak Plyboards, Durian, Kitply Industries

    India Wood Based Panels Market Trends

    The growth in the construction and furniture sectors is driving several significant trends in the India Wood-Based Panels Market. Manufacturers are increasingly emphasizing the production of panels from renewable resources in response to the growing demand for sustainable and environmentally friendly construction materials. There is a significant trend toward engineered wood products, including medium-density fiberboard (MDF) and plywood, due to their superior durability and aesthetic allure in comparison to conventional materials. This change is indicative of the evolving consumer preferences for products that not only satisfy utility requirements but also contribute to environmental sustainability.

    India Wood Based Panels Market Drivers

    Market Segment Insights

    Wood-Based Panels Market Product Insights

    The India Wood-Based Panels Market is characterized by a diverse Product segmentation that includes various categories such as Medium-Density Fiberboard (MDF), High-Density Fiberboard (HDF), Oriented Strand Board (OSB), Particleboard, and Plywood, among others. MDF remains a popular choice in the furniture industry due to its smooth surface, affordability, and capability to be easily fabricated, making it a go-to option for many manufacturers.

    Meanwhile, HDF is favored for its high strength and density, often utilized in flooring applications owing to its durability and impact resistance.OSB has gained traction in construction for its structural integrity and versatility, providing a sustainable option that aligns with the environmentally-conscious trends in India. Particleboard continues to serve a significant role in the production of economical furniture, especially in the budget segment, where cost-efficiency is paramount. Plywood, a traditional favorite in the Indian market, is celebrated for its robustness and aesthetic appeal, making it highly sought after in both residential and commercial spaces.

    This segment showcases the adaptability of wood-based panels in catering to different market needs, from high-end customizable products to affordable solutions, reflecting the broader trends of urbanization and growing demand for sustainable building materials in India.Furthermore, the market segment is witnessing innovation through advancements in production technologies and materials, enhancing performance characteristics and sustainability profiles across all categories. As consumers become more aware of environmental issues, the demand for eco-friendly wood-based panels is likely to increase, driving growth within the India Wood-Based Panels Market.

    This growing focus on sustainability presents significant opportunities for manufacturers to innovate further and differentiate their products, catering to the evolving preferences of the Indian consumer base.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Wood-Based Panels Market Application Insights

    The Application segment of the India Wood-Based Panels Market showcases a diverse landscape that caters to various industries, with significant sectors including Construction, Furniture, and Packaging. The construction industry stands as a primary driver, utilizing wood-based panels for their lightweight yet sturdy properties, which contribute to sustainable building practices and efficient architectural designs.

    Meanwhile, the furniture sector thrives on aesthetic appeal and durability, leveraging wood-based panels to create innovative, customized solutions that meet consumer demand for style and functionality.The packaging industry is also notable, as wood-based panels serve as eco-friendly alternatives that align with increasing sustainability trends, catering to the growing emphasis on reducing plastic waste. Overall, the India Wood-Based Panels Market segmentation reflects a dynamic interplay of innovation and practicality, supported by trends in urbanization and eco-consciousness that continue to influence market growth in these key areas.

    Get more detailed insights about India Wood Based Panels Market Research Report - Forecast 2035

    Regional Insights

    Key Players and Competitive Insights

    The India Wood-Based Panels Market is characterized by a diverse landscape with a mix of established players and emerging companies vying for market share. The competition in this sector reflects a growing demand for wood-based products driven by the booming construction and furniture industries in India. The market comprises various segments such as plywood, particleboard, and medium-density fiberboard, each segment exhibiting different dynamics and competitive behavior. As the market adapts to changing consumer preferences, sustainability, and technological advancements, competition is particularly fierce among manufacturers focusing on product quality, innovation, and pricing strategies.

    The competitive insights reveal a clear trend towards eco-friendly solutions, which has prompted companies to invest in sustainable materials and practices to cater to environmentally-conscious consumers.Garnet Industries has established a strong foothold in the India Wood-Based Panels Market, recognized for its robust portfolio of high-quality products tailored to meet the needs of diverse customer segments. The company prides itself on its streamlined manufacturing processes and a commitment to innovation, which are key strengths contributing to its competitive position in the market. Garnet Industries has successfully built a reputation for reliability and quality, garnering loyalty among contractors and end-users.

    Its emphasis on advanced technology and efficient production has enabled the company to maintain a consistent supply chain while adapting to changing market demands, reinforcing its brand presence across various regions in India.Action Tesa is another prominent player in the India Wood-Based Panels Market, known for its comprehensive range of offerings that include laminates, plywood, and decorative surfaces. The company's commitment to product excellence and customer satisfaction has significantly enhanced its market presence throughout India. Strengths such as state-of-the-art manufacturing facilities, a focus on research and development, and a robust distribution network have positioned Action Tesa favorably against competitors.

    The company actively pursues strategic partnerships and mergers to expand its reach and capabilities, ensuring it remains at the forefront of innovation within the market. Moreover, Action Tesa's dedication to sustainability and eco-friendly practices resonates well with modern consumers, further solidifying its reputation as a preferred choice in the wood-based panel segment in India.

    Key Companies in the India Wood Based Panels Market market include

    Industry Developments

    The India Wood-Based Panels Market has witnessed significant developments in recent months. Companies like Greenply Industries and Century Plyboards have reported robust financial growth, aided by increasing demand for eco-friendly products. In September 2023, Apex Laminates expanded its production capacity to meet the rising market needs driven by a surge in the furniture sector. Duroflex has also seen a notable increase in sales, attributed to its innovative mattress solutions utilizing wood-based materials. Noteworthy is the merger of Sarda Plywood with Vinayak Plyboards, announced in July 2023, aimed at enhancing market reach and operational efficiency with key backing from investment firms.

    Additionally, Action Tesa has introduced a new range of high-pressure laminates in response to shifting consumer preferences towards sustainable furnishing materials. The growth in market valuation is primarily influenced by factors such as urbanization, increased housing demand, and a rising trend toward interior decor that focuses on sustainability, positioning companies like Merino Laminates and Garnet Industries favorably in the competitive landscape. The industry's potential has been further bolstered by government initiatives promoting green building materials, affirming the significance of the wood-based panels sector in India.

    Market Segmentation

    Outlook

    • Construction
    • Furniture
    • Packaging

    Wood-Based Panels Market Product Outlook

    • MDF
    • HDF
    • OSB
    • Particleboard
    • Plywood
    • Others

    Wood-Based Panels Market Application Outlook

    • Construction
    • Furniture
    • Packaging

    Report Scope

     
    Report Attribute/Metric Source: Details
    MARKET SIZE 2018 8.09(USD Billion)
    MARKET SIZE 2024 8.75(USD Billion)
    MARKET SIZE 2035 21.25(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 8.401% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Billion
    KEY COMPANIES PROFILED Garnet Industries, Action Tesa, Nerolac Paints, Apex Laminates, Merino Laminates, Duroflex, Platinum Plywood, Bansal Plywood, Greenply Industries, Sarda Plywood, Interface, Century Plyboards, Vinayak Plyboards, Durian, Kitply Industries
    SEGMENTS COVERED Product, Application
    KEY MARKET OPPORTUNITIES Growing demand for sustainable materials, Expansion in furniture manufacturing, Rising construction activities, Increased focus on eco-friendly products, Government initiatives for wood processing
    KEY MARKET DYNAMICS rising construction activities, increasing furniture demand, eco-friendly material trends, government regulations on sourcing, technological advancements in production
    COUNTRIES COVERED India

    Market Highlights

    Author
    Snehal Singh
    Assistant Manager - Research

    High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. By implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in Packaging, Construction, and Equipment domains. She handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.

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    FAQs

    What is the market size of the India Wood-Based Panels Market in 2024?

    The India Wood-Based Panels Market is expected to be valued at 8.75 USD Billion in 2024.

    What is the projected market size for the India Wood-Based Panels Market by 2035?

    By 2035, the market is anticipated to reach a valuation of 21.25 USD Billion.

    What is the expected CAGR for the India Wood-Based Panels Market from 2025 to 2035?

    The expected CAGR for the India Wood-Based Panels Market during this period is 8.401%.

    Which product segment is leading in the India Wood-Based Panels Market in 2024?

    The MDF segment is valued at 2.5 USD Billion in 2024, making it a leading product in the market.

    What is the market value of the HDF segment in the India Wood-Based Panels Market in 2024?

    The HDF segment is projected to have a market value of 1.75 USD Billion in 2024.

    Who are the major players in the India Wood-Based Panels Market?

    Key players include Garnet Industries, Action Tesa, Nerolac Paints, and Greenply Industries among others.

    What is the expected value of the Particleboard segment by 2035?

    The Particleboard segment is expected to reach a market value of 3.75 USD Billion by 2035.

    What growth opportunities exist in the India Wood-Based Panels Market?

    The market presents opportunities due to growing demand in construction and furniture sectors.

    Is the OSB segment expected to grow in the India Wood-Based Panels Market?

    Yes, the OSB segment is projected to grow to 3.25 USD Billion by 2035.

    What challenges might the India Wood-Based Panels Market face in the coming years?

    Challenges include fluctuating raw material prices and increasing environmental regulations.

    1. EXECUTIVE SUMMARY
    2. Market Overview
      1. Key Findings
      2. Market Segmentation
    3. Competitive Landscape
      1. Challenges and Opportunities
      2. Future Outlook
    4. MARKET INTRODUCTION
      1. Definition
    5. Scope of the study
      1. Research Objective
        1. Assumption
    6. Limitations
    7. RESEARCH METHODOLOGY
      1. Overview
      2. Data Mining
      3. Secondary Research
      4. Primary Research
        1. Primary Interviews
    8. and Information Gathering Process
      1. Breakdown of Primary Respondents
      2. Forecasting Model
      3. Market Size Estimation
        1. Bottom-Up
    9. Approach
      1. Top-Down Approach
      2. Data Triangulation
    10. Validation
    11. MARKET DYNAMICS
      1. Overview
    12. Drivers
      1. Restraints
      2. Opportunities
    13. MARKET FACTOR ANALYSIS
      1. Value chain Analysis
      2. Porter's Five Forces Analysis
    14. Bargaining Power of Suppliers
      1. Bargaining Power of Buyers
    15. Threat of New Entrants
      1. Threat of Substitutes
        1. Intensity
    16. of Rivalry
      1. COVID-19 Impact Analysis
        1. Market Impact Analysis
        2. Regional Impact
        3. Opportunity and Threat Analysis
    17. INDIA WOOD-BASED PANELS MARKET, BY PRODUCT (USD BILLION)
      1. MDF
      2. HDF
      3. OSB
      4. Particleboard
      5. Plywood
    18. Others
    19. INDIA WOOD-BASED PANELS MARKET, BY APPLICATION (USD BILLION)
      1. Construction
      2. Furniture
      3. Packaging
    20. COMPETITIVE LANDSCAPE
      1. Overview
      2. Competitive Analysis
      3. Market share Analysis
      4. Major Growth Strategy in the Wood-Based
    21. Panels Market
      1. Competitive Benchmarking
      2. Leading Players in
    22. Terms of Number of Developments in the Wood-Based Panels Market
      1. Key developments
    23. and growth strategies
      1. New Product Launch/Service Deployment
    24. Merger & Acquisitions
      1. Joint Ventures
      2. Major Players Financial
    25. Matrix
      1. Sales and Operating Income
        1. Major Players R&D
    26. Expenditure. 2023
    27. COMPANY PROFILES
      1. Garnet Industries
    28. Financial Overview
      1. Products Offered
        1. Key Developments
        2. SWOT Analysis
        3. Key Strategies
      2. Action Tesa
    29. Financial Overview
      1. Products Offered
        1. Key Developments
        2. SWOT Analysis
        3. Key Strategies
      2. Nerolac Paints
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      3. Apex Laminates
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      4. Merino Laminates
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      5. Duroflex
    30. Financial Overview
      1. Products Offered
        1. Key Developments
        2. SWOT Analysis
        3. Key Strategies
      2. Platinum Plywood
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      3. Bansal Plywood
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      4. Greenply Industries
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT Analysis
        5. Key Strategies
      5. Sarda Plywood
        1. Financial Overview
        2. Products Offered
        3. Key
    31. Developments
      1. SWOT Analysis
        1. Key Strategies
    32. Interface
      1. Financial Overview
        1. Products Offered
    33. Key Developments
      1. SWOT Analysis
        1. Key Strategies
    34. Century Plyboards
      1. Financial Overview
        1. Products Offered
        2. Key Developments
        3. SWOT Analysis
        4. Key Strategies
      2. Vinayak Plyboards
        1. Financial Overview
        2. Products
    35. Offered
      1. Key Developments
        1. SWOT Analysis
    36. Key Strategies
      1. Durian
        1. Financial Overview
    37. Products Offered
      1. Key Developments
        1. SWOT Analysis
        2. Key Strategies
      2. Kitply Industries
        1. Financial Overview
        2. Products Offered
        3. Key Developments
        4. SWOT
    38. Analysis
      1. Key Strategies
    39. APPENDIX
      1. References
      2. Related Reports
    40. PRODUCT, 2019-2035 (USD BILLIONS)
    41. SIZE ESTIMATES & FORECAST, BY APPLICATION, 2019-2035 (USD BILLIONS)
    42. PRODUCT LAUNCH/PRODUCT DEVELOPMENT/APPROVAL
    43. LIST
    44. OF FIGURES
    45. PANELS MARKET ANALYSIS BY PRODUCT
    46. ANALYSIS BY APPLICATION
    47. MARKET
    48. WOOD-BASED PANELS MARKET
    49. MARKET
    50. PANELS MARKET, BY PRODUCT, 2025 (% SHARE)
    51. BY PRODUCT, 2019 TO 2035 (USD Billions)
    52. BY APPLICATION, 2025 (% SHARE)
    53. TO 2035 (USD Billions)

    India Wood-Based Panels Market Segmentation

     

     

     

    • Wood-Based Panels Market By Product (USD Billion, 2019-2035)

      • MDF

      • HDF

      • OSB

      • Particleboard

      • Plywood

      • Others



    • Wood-Based Panels Market By Application (USD Billion, 2019-2035)

      • Construction

      • Furniture

      • Packaging





     



     



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