Century Plyboards, a leading player in India's wood products industry, announced its intention to commence exporting its MDF products to West Asia and South-East Asia starting from this financial year. The Kolkata-based company, which currently ships laminates to various destinations including the US, Europe, Australia, West Asia, and South-East Asia, revealed its plans to diversify its export portfolio.
Executive Director of Century Plyboards (India), Keshav Bhajanka, disclosed during an interview with businessline that owing to the operationalization of the Badvel capacity, the company would venture into exporting MDF in addition to laminates. He mentioned that the primary markets for MDF exports would be West Asia and South-East Asia due to the lower freight costs. Export activities are anticipated to commence as early as the next quarter, as per Bhajanka.
In December of the preceding year, the company inaugurated its new integrated wood panel manufacturing plant, a significant investment amounting to ?1,000 crore, situated across a sprawling 100-acre site in Badvel, Andhra Pradesh.
Bhajanka emphasized the significance of the MDF segment within the plywood business, anticipating it to emerge as a key growth driver in the foreseeable future. He highlighted its potential role in catering to the middle-income segment owing to its affordability compared to plywood.
Despite the overall plywood industry in India experiencing a growth rate in the high single digits, the MDF segment stands out with a growth rate exceeding 30 percent. The Indian MDF industry is estimated to be valued at approximately Rs 50 billion.
