STRENGTH:
The Indian wood based panel industry is making a gigantic mark. And with that the growth rate is cascading at the rate of 10-12% annually. The construction industry has seen a marvellous upwards growth in the last decade due to which the Wood based industry is apprehended to grow conspicuously in the years between 2020 to 2026. As one can speculate, such tremendous expansion has not failed to influence the global market trends in both developed and developing economies.
India has witnessed a rapid surge in its per capita income in the past couple of years. With that, has come a sweep in the spending power of the consumers and therefore it directly reflects on the growth of the economy. There are about 150 Particle board plants and 20 Medium Density Fibreboard (MDF) organised plants all across the country and steadily growing.