Particle board from coconut husk absorb water without swelling and are flexible enough to bend without breaking: this makes them resistant to fire. Stress tests done on the boards produced from husk show that the water-absorbent and flame-retardant properties of the products are superior to most other woods used now, including medium-density fiberboard, plywood, and hardwood.
Besides giving the board its remarkable fire retardant property, the ability of coir fibers to bend and stretch at 45-degree angles makes it ideal for use in building construction. The higher concentration of silica in coir is important as well.
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Due to its strength the board has the potential to be used for structural elements in buildings. It also has natural anti-fungal properties and burns three times slower than wood. The boards are developed by milling, steam pressing, and cooling the husks. They require no glue or resin to hold together. The board material has been shown to exhibit excellent properties, which are comparable with or even superior to commercial wood based panels. Our product is stronger and more durable, priced considerably less, and greener.
Market Overview:
The market for India Particle Board was valued at over USD 720 million in 2020 and the market is projected to register a CAGR of more than 11.5% during the forecast period (2021-2026).
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In the long term, major factor driving the market studied is the increasing demand for furniture in the office space and hospitality sectors. International hotels are expanding their presence in the country, and are likely to account for around 47% of the Indian tourism and hospitality sector. In India, many hospitality groups (both Indian and foreign) are investing in projects related to hotel construction. For instance, Hilton, a global hospitality major, is planning to open another 18 hotels across the country by 2021, which is likely to boost market demand.
Increasing usage of medium-density fiberboard as a substitute to particle board can hinder market growth in the country. In the raw material segment, wood dominated the market in 2020, and is expected to grow during the forecast period. Upcoming construction and infrastructure projects in the country are likely to act as an opportunity in the future.
Key Market Trends of the Industry:
Increasing Demand for Furniture from the Office Space and Hospitality Sectors Office space leasing in the country has increased by about 27%, crossing over 69.4 million sq ft in 2019. In India, the furniture market is expected to register a growth rate of more than 20% in the coming years.
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With the demand from technology, e-commerce companies, and banking-financial services, the office space requirement in India is significantly rising, resulting in the construction of new offices, thereby enhancing the demand for furniture’s in the offices. Bengaluru city is leading the office demand and supply activity in the country.
The travel and tourism contribution to the GDP in the year 2019 was 6.8% of the total economy, USD 194.3 billion. The Indian government is supporting the tourism and hospitality sector with various initiatives and investments. Under the Union Budget 2020-2021, INR 207.55 crore was allocated to the Ministry of Tourism, for the development of tourist circuits under PRASHAD scheme. In addition, the government created a category of visa, M-visa category, to encourage medical tourism.
Increase in the demand from the office space and hospitality sector projects, coupled with several government initiatives and investments, is likely to significantly boost the furniture market’s growth.
Conclusion:
“Particle board from coconut shell” is the project report by NPCS. NPCS also offers self-contained Pre-Investment and Pre-Feasibility Studies, Market Surveys and Studies, Preparation of Techno-Economic Feasibility Reports, Identification and Selection of Plant and Machinery a lot of other aspects of the business. The report by NPCS provides not only the present market scenarios but also the future market overview.
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