INTERNATIONAL EXPANSION RETAIL STORE HOME TEXTILES NATIONAL
AHMEDABAD, GUJARAT, INDIA
By IFAB MEDIA - NEWS BUREAU - May 17, 2024 | 355 3 minutes read
Rushil Decor Limited, a prominent name in the manufacturing of eco-friendly MDF, laminates, and plywood, is thrilled to announce its strategic expansion into South America. With exports already reaching over 50 countries, Rushil Decor is set to penetrate one of the largest markets for MDF globally. On the eve of Interzum Bogota, Rushil Thakkar, Executive Director at Rushil Decor expressed hope and confidence about growing with the multibillion-dollar global wood panel market. Interzum Bogota is an international industry fair for furniture and wood technology, being organised between May 14 and 17, in Colombia, South America.
As a leader in MDF manufacturing in India, Rushil Decor is well-equipped to meet the high demand in South America. The company recently posted a 9% growth in the January to March 2024 quarter compared to the same period last year. Export revenue contributed 28% to the total revenue in the fourth quarter of FY24, highlighting the company's significant international footprint. According to Precision Reports, the global MDF market was valued at USD 24,942.77 million in 2024 and is projected to reach USD 29,965.13 million by 2027.
The global laminate market is projected to reach a staggering USD 11.98 billion by 2030, presenting a remarkable growth opportunity for Rushil Decor. The company is strategically positioning itself to capitalize on this lucrative market through its upcoming greenfield project, meticulously designed to cater to the burgeoning export demand for laminates. Looking at the vibrant export opportunity that MDF presents, we will also export MDF products to the South American regions creating potent synergies across our product lines. By leveraging its expertise in both laminates and MDF, the company is well equipped to benefit from the increasing demand in this region, effectively increasing our revenue potential and further solidifying our global footprint.
Rushil Thakkar, Executive Director of Rushil Decor Limited, added, "Expanding into South America is a significant milestone for Rushil Decor. This move underscores our dedication to providing sustainable and high-quality products to new regions, meeting the evolving needs of South American customers. The 2024 edition of Interzum Bogota focuses on the circular economy, sustainability, innovation and technology and we at Rushil Decor strongly support all these values every day."
Rushil Decor's strategic expansion is part of its broader vision to achieve annual revenues of INR 2500 crores by 2029. With state-of-the-art manufacturing facilities and a strong distribution network, the company is poised to meet the increasing demands of the global market while maintaining financial stability and operational efficiency.