The rise of ‘Atmanirbhar bharat’ initiative and euphoria is benefitting the Indian Furniture makers to the maximum. The growing demand for domestic readymade furniture is thus helping the consumption of Particle Boards and MDF, shows the collected figures of all the particle board and MDF manufacturing plants in the country after June 2020 by The Ply Reporter.
The manufacturing operations at all most all the manufacturing establishments are reportedly running in full swing, with orders pendency of one and half months and beyond. The demand momentum has prompted manufacturers to go for further expansion and setting up new units though it applies to only those who were planning for this even before covid.
What looks imminent is Indian manufacturing plants will have added capacity in tune of around 2800 cbm by year 2022. The biggies manufacturers like Action Tesa, CenturyPly are going for further expansions because they have plenty of scope coming in, indicate reports from sources. The other players and the mid-sized plants too are mulling capacity addition in North India as well as South
The Particle Board segment is also running full swing post Covid and emerging furniture makers demand hints at more capacity addition plans in coming year. Already around 6 mid sized lines of approximately 250 cubic meters per day capacity on average are on way to be erection during 2021. Besides, 3 big houses are also considering to enter into Particle Board manufacturing with 400 plus cubic meter per day capacity
Reports validate the fact that ‘Particle Boards makers have plenty of orders from furniture and retail sector due to rise in readymade Work from home furniture and home essential demand. Speaking to ply reporter editorial desk, market says that machinery based furniture work has been running in full stream because the people want fast delivery, and they don’t want to do carpentry at their place. Lesser import of readymade furniture from China, Malaysia has also helped the run for domestic furniture producers that have led to the growth of MDF and PB.
As per ply Reporter statistical analysis, the demand pattern during last five years is clearly reflected to hover around 17 to 22 % YoY. The growth is consistent in both MDF and PB categories, where manufacturing establishments are utilizing their optimum capacity. As per fresh market trends analyzed at Ply Reporter’s, both MDF and Particle Categories are further embracing new demands resulting to further 13 to 16 % demand growth despite of negative GDP figures due to covid. The growth is largely attributed on the basis of utilization of already installed capacities in India market. So far, majority of companies have recovered their pre covid level production, and some of the companies are reportedlymuch ahead of their January-February production numbers.
The Ply Reporter finding reflect a growth in ‘High Density Moisture Resistance MDF Boards’ demand hence supporting every company in MDF space in tune of 15 to 18% growth even during Covid impacted phase. Besides Pre-laminated boards segment in MDF is also posted increasing demand from furniture and kitchen segment.