Panel Perspectives: India | 47
Above left: Century-Plyboards opens new manufacturing plant Above right: Greenpanel’s state-of-the-art manufacturing facility in Pantnagar, Rudrapur
Plyboards, and Greenply Industries, along with other key players like Kitply Industries and Merino Industries. These companies manufacture a wide range of products, paying a particular focus to MDF. In recent years most of them have expanded their capacities by commissioning of new production lines. As the level of competition in the Indian panels sector is tightening most of the leading local players consider the launch of new production facilities as one of the ways to remain competitive in the domestic market. One such company is Greenpanel Industries, which is positioned as India’s largest wood panel manufacturer and the largest MDF producer in India. The company operates large-scale production facilities in the states of Uttarakhand and Andhra Pradesh and continues the expansion of their capacities. As part of this, Greenpanel Industries has recently expanded its MDF capacity by the launch of a new line at its Srikalahasti facility in Andhra Pradesh. This allowed to increase the annual capacity of the plant from 660,000m3
to 891,000m3 .
According to Shobhan Mittal, CEO of Greenpanel, the company puts big hopes on the project, which should ensure its further growth. The new MDF line uses Dieffenbacher’s CPS+ continuous press technology. In addition to Srikalahasti facility, Greenpanel Industries announced in February that it had commissioned a MDF plant at its existing unit in the Tirupati district (same Andhra Pradesh state), with an installed capacity of 231,000m3
per annum.
In the meantime, Century Plyboards – another major leading local player - in recent months has also completed an expansion of its MDF capacities. Recently the company doubled its MDF capacity at its Badvel, (YSR Kadapa district, Andhra Pradesh) plant from 900 to 1,900m3
it the company’s largest integrated wood panel manufacturing plant.
In the meantime, in addition to MDF,
Century Plyboards currently continues its expansion into the particleboard sector. Earlier this year, it commissioned a major production facility for the production of particleboard in Tamil Nadu near Chennai. That became India’s largest particleboard manufacturing facility with the annual production capacity of 800 cubic metres per day. According to the company, the plant is
expected to meet the growing demand for high-quality engineered wood panels across India and will allow the export of part of the output to global markets. As Keshav Bhajanka, executive director
of CenturyPly told in an interview with the Indian Business Standard paper – “The plant is not just the largest in India, but also a symbol of our future-forward vision.” The plant is located near some Indian major ports and transport hubs, ensuring fast market access across South India and for exports. The investments for both projects became part of the investment programme, which was approved by CenturyPly in 2023.
Finally Greenply Industries, another Indian major leading local player recently inaugurated its new MDF manufacturing facility in Semiliguda, Odisha. The plant will manufacture plywood and MDF using plantation-grown timber, promoting sustainable agroforestry practices, benefiting both the environment and local communities. It is expected that most of future output will be supplied to customers in the eastern provinces of the country. The launch of the facility is part of the earlier announced plans of the company to achieve double-digit volume growth already during the period of 2025-2026. According to recent statements of Manoj
per day. The expansion made
Tulsian, the company’s CEO and managing director, a significant increase of output will allow the company to avoid serious
price hikes for its products. In the middle term, that will contribute to the growth of the overall market share of the company. While the official output of the plant will be announced by the company, most local analysts expect that it will be one of the largest facilities in the entire Eastern India region.
The general consensus from economists and analysts is a prediction of generally bright prospects for the Indian panels sector in the years to come, that will be mainly due to expected growth of the Indian construction and furniture sectors, stimulating the demand for panels in the local market. The Indian furniture sector’s steady growth contributes to the growth of demand for panels from Indian leading furniture manufacturers. According to data of the Imarc Group research group, the Indian furniture market amounted to US$23.8bn in 2024 and is expected to reach US$44.2bn by 2033, exhibiting a CAGR of 6.40% from 2025-2033. There is predicted to be a massive level of exports of Indian furniture to the global market, as the demand for it is steadily growing overseas. From its side, the Indian government
will continue to provide support to major domestic panel manufacturers. For example, the government will probably stimulate the establishment of new panel capacities in certain regions of the country. One of them is Andhra Pradesh, one of the Indian leading southern states, which is positioned as one of the major Indian furniture- producing hubs in years to come. The attraction of some leading Indian panels manufacturers to this state will ensure the creation of synergy, which is important for the entire industry.
Still, some analysts believe the lack of skilled workforces currently remains a major problem, which prevents a more active development of the Indian panels sector, with the problem more pressing in case of smaller domestic producers. ●
www.wbpionline.com | October/November 2025 | WBPI
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