RFL enters particle board market with Tk200cr investment
The new venture is also set to create around 500 jobs initially, rising to 1,500 as operations grow
The country's particle-board market is set to heat up as RFL Group, one of the country's leading industrial conglomerates, is entering the particle board market with a Tk200 crore investment to produce and market its new brand, Plymax. The official launch will take place tomorrow.
The company will manufacture Plymax boards at its factory in Danga Industrial Park, Narsingdi, with an initial annual capacity of 1.3 million pieces. Production is expected to expand five-fold within the next two years.
The new venture is also set to create around 500 jobs initially, rising to 1,500 as operations grow.
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"Bangladesh's demand for engineered-wood products is growing rapidly," said RFL's Managing Director, RN Paul. "We have introduced Plymax to ensure a consistent supply of high-quality, affordable alternatives for furniture, doors and interior decoration – aligned with our existing business. We believe Plymax will soon become a trusted name among customers."
The launch marks RFL's latest move to diversify its product portfolio. The group, which has operations spanning plastics, electronics, construction materials and household goods, plans to leverage its nationwide distribution network to reach both retail and industrial customers.
Bangladesh's particle board industry is valued at about Tk3,000 crore, with annual growth of around 12%. Domestic producers supply roughly 70-75% of the market, while the remaining 25-30% is met through imports, mainly from India, China and Malaysia.
Although the sector has several established players, it is currently dominated by Akij Particle Board Mills (Akij Board), which holds about 30% of the market, followed by Super Board with around 25% and Partex (Star/Partex Group) with roughly 20%, according to a recent report.
The remainder is shared among smaller firms.
Akij Board, under the Akij Bashir Group, operates South Asia's largest board factory in Trishal, Mymensingh, using advanced German Siempelkamp ContiRoll® technology. Partex Star/Star Particle Board also has a strong presence, backed by its diversified conglomerate structure.
Several other local companies, including Amber Boards, MRS Industries, Woodland and Ahmed Boards, compete in the segment, contributing to increased competition, technological progress and market diversification.
Analysts say the rising household purchasing power, rapid urbanisation, growth in furniture manufacturing, and increased interior decoration activity are driving demand for particle boards in Bangladesh.
The boards are considered cost-effective and eco-friendly substitutes for natural timber in furniture, cabinets, doors, and floor tiles.
RFL officials said Plymax boards incorporate water-resistant paraffin wax and a zero-emission adhesive, designed for durability and eco-safety. The product will be available nationwide via authorised dealers, retailers and popular e-commerce platform othoba.com, with a maximum retail price of Tk1,960 per board.
The company states that with Plymax they aim to capture a meaningful share of the market by offering a branded, high-quality alternative at accessible pricing, targeting the furniture, interior design and home improvement segments.
