Project report for Bamboo wood products Industy

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Bamboo will not be frequently regarded as "poor man's wood," but rather"Green Gold" in the twenty-first century. Bamboo was once used just to build buildings, fences, and cultivation tools. However, thanks toadvancements in engineering and technology, bamboo can now be converted into bamboo wood, which is used as a substitute for timber ingoods such as furniture, wall panels, and tiles. The bamboo industry in China has grown rapidly and so is in India. Bamboo is now regarded as an industrial raw material capable of bringingeconomic prosperity to any country in the global market. The global market for bamboo and related products is expected to reach inr 5,273.90 billion in2019, a compound annual growth rate of 5?tween 2019 and 2025.  After China, India is the world's second-richest nation in terms of bambooresources. The bamboo and rattan industry in India was worth Rs. 28,005 crores in 2019, according to Ministry of Agriculture and Farmers Welfarereports, and the aforementioned figures are enough to emphasize the importance and potential of bamboo wood products such as furniture, ply, and much more.

Bamboo is an extremely eco-friendly material that does not harm theenvironment in the same way that wood and plastic products do. Bamboo wood products are an environmentally friendly alternative totimber and plastic products. Because it is necessary to cut down trees to make wood products, which endangers our environment, and becauseplastic products are non-degradable, bamboo becomes the best alternative product as a construction material for everyday consumer utilities. A newbusiness unit will enter the bamboo wood product manufacturing industry, which has large market potential.

Market potential & Strategy

The market for bamboo wood products is growing in India, and the marketpotential is still untapped with minimal manufacturing units. Bamboo is regarded as "green gold" in the emerging market of the twenty-first century.A mature bamboo plant takes just 4-5 years to grow, while a mature tree takes 30-40 years to grow. Bamboo is one of the most abundant andenvironmentally friendly resources, but it is not being fully utilized. Because wood is a costly product for rural people, it is considered a part of rural lifefor building homes, agricultural tools, and everyday objects like bags, buckets, and beds. Not only in Villages but with growing food chains,commercialization, malls, supermarts opening-up, the future expects companies to replace plastics with bamboo for straws, etc. The quality ofbamboo products is one of the prime reasons why the industry is booming enormously. Combining adequate resources with viable manufacturingunits solely cantered on the production of bamboo wood products can do wonders for the units in terms of tapping profits. The government is alsoexpected to put its step forward in encouraging investment in this sector. They must provide subsidies and opportunities for innovation, as well asproviding capital support for the establishment of new manufacturing units. Although, it is an unconventional industry yet very futuristic to bank on.

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