Manilam Industries India Ltd. IPO

The Indian wooden furniture industry is a dynamic sector blending traditional craftsmanship with modern design aesthetics. A study by the India Brand Equity Foundation (IBEF) a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, highlighted ... that India's furniture market is expected to grow by 12.91% annually until 2028, with urban areas acting as significant growth drivers. Currently, the Indian wooden panel industry is dominated by the plywood and laminates segment. Overview of Laminates Segment: The decorative laminates market in India has shown consistent and robust growth over recent years, as illustrated by the increase in market size from Rs. 12,804.40 crore in FY 2021 to Rs.16,207.00 crore in FY 2024. This growth reflects a rising demand driven by ongoing urbanization, increasing consumer preferences for aesthetic home and office interiors, and a growing trend toward durable and lowmaintenance surfacing solutions. The post-COVID recovery in real estate and furniture segments has also contributed to this upward trend, boosting consumption of decorative laminates across both residential and commercial sectors. Furthermore, the market is projected to reach Rs. 22,108.50 crore by FY 2030, which indicates a healthy compound annual growth rate (CAGR). This forecast highlights long-term optimism around market potential, particularly fueled by innovations in design, texture, and eco-friendly materials, along with a surge in modular furniture and interior decor trends. Overview of Plywood Segment: Plywood is the largest segment with approximately 54% of market share translating into the market size worth (Rs. 265 Bn in FY 2023). The plywood industry is categorized into premium, mid-premium, and economy segments based on the type of timber and the quality of chemicals employed. The organized segment has exhibited significantly superior growth compared to the overall industry, driven by the heightened expansion in the premium segment when compared with the medium and low-end segments. Read more