Project Report For Bamboo Products
Project report for Bamboo products is as follows.
In India 2019, the worldwide bamboo goods market was valued at US$ 60 billion, with over 3 billion tonnes of merchandise sold. Because of the start of COVID-19, annual growth in 2020 has slowed to 3.3 per cent compared to 2019. This sluggishness is expected to fade by 2021.
Demand is increasing as more sustainable building materials are being used. As countries compete to achieve total sustainability, the use of environmentally friendly materials is increasing significantly, offering possibilities for bamboo product producers to increase their scale of operations.
The use of hazardous chemicals in the manufacturing of processed bamboo and rattan goods such as furniture, flooring, and pulp and paper, on the other hand, accelerates the creation and execution of severe rules and regulations. Such rules may have a significant influence on the long-term availability, pricing, and sales of bamboo and rattan goods. These issues are likely to impede market expansion over the forecast period.
Market potential & Strategy
Bamboo and rattan are rapidly replacing lumber as a favoured material since they are simpler to harvest, transport, and are less expensive. They are naturally water-resistant and have a long lifespan. These advantages lead to the long-term usage of bamboo and rattan in applications such as furniture, shelter, and handicraft items. Flooring, charcoal, mats/screens, and weaved goods are also made from bamboo and rattan. As a result, a wide range of commercial applications are expected to enhance sales of bamboo products and, as a result, drive market development throughout the forecast period.
During the projected period, the Indian bamboo products market is predicted to develop at a stable rate. The rising popularity of bamboo products as an alternative to traditional timber due to its various advantages and cost-effectiveness are driving the Indian bamboo products market. Furthermore, the rising demand for environmentally friendly goods is projected to push the market during the forecast period.
From 2019 to 2025, the bamboo market is anticipated to expand at a compound yearly growth rate of 5.0 per cent, reaching USD 98.30 billion by 2027.
The market is divided by species such as Bambusa Tulda, Bambusa Bambos, Dendrocalamus Strictus, and others. Because of its broad usage in the construction sector and the production of furniture, carpets, and handicrafts, among other things, the Bambusa Tulda species is projected to dominate the market. This is also an edible type that is utilised as a windbreak. The market may be segmented based on the end-user industry into wood and furniture, construction, paper and pulp, textile, medicinal, agricultural, and others. Because of the favourable government excise policy, the paper and pulp sector is projected to dominate the market., Kolan India, Green Gold Bamboo Tech Pvt. Ltd., and others are among those engaged in the bamboo products industry.
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