Development in the manufacturing and service industries says a lot about a country’s economic strength. Bangladesh, being a developing country, has a few manufacturing industries in which it has achieved significant value addition and self-sufficiency. The particle board industry is undoubtedly one of them. The abundance of raw materials and cheap labour have fueled the growth of this industry, and the industry has already created a market valued at more than BDT 5,000 crore.
The particle board manufacturing industry started its journey in the country in 1962 by Star Particle Board Mills Ltd., a concern of Partex Star Group. Now, several conglomerates are catering their pie in the industry. It is also noteworthy that the industry has created a conducive environment for small and medium enterprises to grow here. What is unique about the particle board industry is that it promotes sustainability by requiring fewer trees to be cut and recycling waste timber. Though the industry is growing exponentially, it is facing challenges due to the rising dollar price, as adhesives and some other chemicals still need to be imported. Moreover, rising energy costs are a big concern. However, the industry has all the potential to be a contributor to exports if it receives adequate policy support. We can surely expect a sustainable tomorrow with the growth of industries like the particle board industry.
Md. Shah Jalal
Editor
IDLC Monthly Business Review
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