India has the 4th largest market size for wood and wood products regionally, with demand reaching $ 21.5 billion in 2021. The industry is dominated by domestic suppliers, as imports account for 3.8 per cent of total market size. The cost of the industry increased by 15.1 per cent in 2021, largely driven by rising B2B costs. The B2B spend represents 92.7 per cent of total demand. The industry’s profitability stood at 19.5 per cent of production value in 2021, the second highest regionally. With a production value of $ 26.9 billion, India accounts for 6.8 per cent of the Asia Pacific.The wood products market registered a growth of 8.55 per cent in value shipments in 2022, compared to 2021, and a decrease of -11.51 per cent CAGR in 2022 over a period of 2017. India is becoming more competitive in the market with a HHI index of 1,737 in 2022 compared to 3,648 in 2017. India has reportedly relied more on domestic production to meet its growing demand and the trend is shifting towards reducing imports. The import factor of the wood products Market in 2022 was 0.15 while it was 0.48 in 2017. China, Malaysia, Sri Lanka, Singapore and Thailand were among the top players of the market in 2022, where China acquired the largest market share of 29.09 per cent with a shipment value of $ 32.92 million in 2022. Suggest we delete this para: China also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Wood Products Market. In 2017 China had the largest market share of 57.58 per cent with the shipment value of 125.03 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.The India wood products market is highly fragmented owing to numerous small-scale producers spread across the country. The overall market size for this sector was estimated to be over Rs.1 lakh crore ($ 14 billion) in 2019-2020, with furniture being the major contributor (~45 per cent). Consumption growth is driven by rising consumer demand for wooden furniture along with increased usage from construction activities such as residential housing projects and infrastructure development initiatives like smart cities. In addition, increasing exports have also helped boost domestic production levels in recent years, leading to higher demand for raw materials like saw loggings and roundwood logs, which further add up to the revenue generated by wood product manufacturers within India.Fastest Growing Wood And Wood Product CompanyRUSHIL DÉCORWith experience of over three decades, Rushil Décor is one of the leading companies in the laminate and MDF panel boards industry, with a presence in 51 countries globally. It is engaged in the business of laminated sheets and other allied items and medium-density fibreboard. Key business segments include decorative laminated sheets, particleboard and medium-density fibreboard. Over the years, the company has developed the capability to manufacture multiple product ranges. Its products, available in various sizes, include single-sided or decorative laminate sheets, double-sided or compact laminate sheets, post-forming laminates, metal-bond laminates, digital laminates, colour-core laminates and tabletop-grade laminate. It also produces medium-density fibreboard at its project located in Chikamagaluru, Karnataka. Other products include high-density fibre water-resistant (HDFWR) boards, pre-laminated decorative MDF boards and PVC boards. The brand is supported with a robust after-sales service network.The company’s modern in-house manufacturing facilities, located near Gandhinagar-Mansa, are modelled on international technical plants, planned for seamless workflow and ergonomic design, ensuring high productivity. The strategic location gives it a significant competitive cost advantage in terms of raw material sourcing, manufacturing and labour costs. The facilities also enable sufficient output to cover Indian and global market demand. Industry best practices that are energy and time-efficient help the company meet environmental standards while maintaining shorter lead times.For FY2022-23, the company reported total revenue of Rs 8.384 billion from its operations, up 34 per cent from Rs 6.242 billion for FY2021-22. The MDF business grew 44 per cent at Rs 6.207 billion, compared to Rs 4.311 billion. Laminates contributed Rs 2.059 billion in FY2022-23, compared to Rs 1.855 billion. And PAT stood at Rs 777 million, up 240 per cent from Rs 228 million the previous year.CENTURY PLYBOARDSCenturyPly is a manufacturer, seller and exporter of plywood, laminates, doors, PVCs and veneers. It offers plywood products under the brand name CenturyPly and exports its products to over 20 countries. It is a one-stop destination and is well-recognised as one of the most reliable and authentic plywood manufacturers in India. It is consistently known as the best plywood brand in India due to its wide variety of designs, excellent quality and competitive pricing. It provides functional benefits with its innovative range of products, whether it is the living room, bedroom, bathroom or kitchen. CenturyPly’s manufacturing plant is located at Bishnupur, near Joka, Kolkata. It also started commercial production of medium-density fibre (MDF) at its newly established plant in Punjab, set up manufacturing units in Karnal, Guwahati, Hoshiarpur, Kandla and Chennai, and opened stores in many parts of India. Every Century product comes with special features and technical specifications. It successfully manufactures high-quality plywood, allowing customers to select from a variety of options. It has two major product categories – plywood and laminates – and is the first company to have received ISO 9002 certification for veneer and plywood.The company provides its customers with unique product features paired with precision manufacturing. Its commitment to providing quality products such as boiling waterproof grade plywood is what sets it apart. Indeed, it is dedicated to creating the best plyboard, laminates and veneer sheets for any interior, with innovative product features such as ViroKill Technology and Firewall Technology Protection. All its plywood products are available in varied thicknesses to suit different design needs. During FY2022-23, the company reported a total income of Rs 36.94 billion, compared to Rs 30.50 billion in FY2021-22. Net profit stood at Rs 3,830 million as against Rs 3,130 million. Despite the challenging demand scenario and inflationary environment, it managed to report better earnings. Its growth in the recent past has been steady leading to significant revenues. With its manufacturing facilities, CenturyPly is planning to optimise and expand capacity wherever there is a possibility.GREENPLY INDUSTRIES Incorporated in November 1990, Greenply Industries Ltd is the largest manufacturer of plywood and MDF board. It is primarily involved in the manufacturing of plywood, medium-density fibreboard (MDF) and trading of wall covers and allied products. It is one of the leading manufacturers and suppliers of plywood sheets, laminate sheets, flush doors, fibreboard and veneer sheets. Today, it is firmly established as India's largest interior infrastructure company. It is committed to providing international quality products such as residential and commercial floor products – plywood and blockboard, MDF and wood floors – to its customers.The company has a retail network across 56 branches in India with a strong network of 12,000 distributors, dealers, sub-dealers and retailers and a presence in over 300 cities in 21 states. It has five state-of-the-art manufacturing facilities in Nagaland, West Bengal, Uttarakhand and Gujarat, with a combined installed capacity of 48.40 million sq m.Its major brands in the plywood premium segment include Green Club 500, Green Club Plus 700 and Green Gold Platinum, while Ecotech, Jansathi and Bharosa Ply are brands in the mid and low-plywood segments. As part of backward-integration initiatives, the company has a timber peeling capacity of 96,000 cbmin in Gabon, West Africa. Greenply is also implementing an MDF project through its wholly-owned subsidiary, BPPL, in Gujarat. It follows the motto of converting dreams into reality, becoming one of the most trusted brands in India.During FY2022-23, revenue from operations stood at Rs 16.43 billion, compared to Rs 13.77 billion the previous year. Net profit stood at Rs 1,093 million, compared to Rs 888 million. The company’s board of directors recommended a dividend at the rate of Rs 0.50 per equity share of Re I each (i.e., 50 per cent of the face value of equity share) for the year ended March 31, 2023.