India Plywood and Laminates Market To Expand With Growing Urbanization in the Nation By a CAGR of 4.83% Throughout 2019-2027


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Jun 08, 2020, 15:29 EST


New York, United States, Jun 08, 2020, 15:29 /Comserve / -- The India plywood and laminates market, which was valued at USD 4790 million in the year 2018, is anticipated to grow at a CAGR of 4.83% during the forecast period, i.e. 2019-2027.

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Research Nester has released a report titled “India Plywood and Laminates Market –Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

The Ministry of Housing and Urban Affairs of the Government of India, stated in one of its statistics that out of the total population as recorded in the 2011 census, 31.16% of the population live in the urban areas.

The statistics portray the growing urbanization in the country which is considered as one of the key factors for promoting the growth of the India plywood and laminates market. Individuals shift to urban areas for a source of living. As such, people shift from farthest of the remote rural areas to the urban cities. Backed by the growing economy of the nation and the rising household disposable income, there is a rising demand amongst people living in the urban areas for furniture and other modern wooden products. The rising demand for furniture from the consumers will need the furniture manufacturers to increase their production scale. Moreover, supportive low and affordable housing facilities by the government of India to the citizens of the nation is also anticipated to raise the demand for plywood and furniture. Additionally, the change in tax reforms by the implementation of goods and service tax (GST), which has lowered the price difference between the organized and unorganized sectors are some of the factors anticipated to drive the growth of the India plywood and laminates market.

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The India plywood and laminates market, which was valued at USD 4790 million in the year 2018, is anticipated to grow at a CAGR of 4.83% during the forecast period, i.e. 2019-2027. The market is thriving on the back of rising focus of the government for low cost housing and infrastructure development, rising demand for plywood and laminates in various end user industries, growing construction industry and increasing urbanization are some of the factors anticipated to contribute significantly towards the growth of the India plywood and laminates market in the upcoming years. Further, the market of plywood and laminates in India is anticipated to reach a market value of USD 7323.3 million in the year 2027.

However, concern for the impact on overall production cost of the manufacturer on account of the challenges faced with the unavailability of certain raw materials used in the manufacturing of plywood and laminates are some of the factors estimated to act as a barrier to the growth of the India plywood and laminates market.

The report also studies existing competitive scenario of some of the key players of the India plywood and laminates market, which includes profiling of Greenlam Industries Limited (NSE: GREENLAM), Greenply Industries Limited (NSE: GREENPLY), Century Plyboards (I) Limited (NSE: CENTURYPLY), Uniply (NSE: UNIPLY), Duroply Industries Limited (BOM: 516003) and National Plywood Industries Ltd (BOM: 516062).

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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled India Plywood and Laminates Market –Demand Analysis & Opportunity Outlook2027”, analyses the overall India plywood and laminates industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the India plywood and laminates market in the near future.

Research Nester is a one-stop service provider, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives to make wise decisions for their future investment and expansion by providing them qualitative market insights and strategies while avoiding future uncertainties. We believe in honesty and sheer hard work that we trust is reflected in our work ethics. Our vision is not just limited to gain the trust of our clients but also to be equally respected by our employees and being appreciated by the competitors.


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