The global medium density fiberboard market is forecast to reach USD 97.94 billion by 2027, according to a new report by Reports and Data. MDF is lightweight that offers an excellent strength-to-weight ratio. Thus, it is an optimal choice of material for applications such as building materials, interior decoration, and furniture. MDF can also provide properties such as fire resistance, moisture resistance, and high-temperature resistance.
Increasing demand for MDF in furniture and building materials are factors driving the Medium Density Fiberboard industry. This is propelling the companies to increase the production of these boards. Moreover, the easy availability of raw materials is projected to boost the demand for MDF in the near future. The global MDF market is experiencing technological advancements. Companies are constantly striving to develop better and new ways to manufacture these fiberboards. The development of new production processes of MDF and applications is projected to propel the industry. However, the substitution from high-density fiberboards is anticipated to hinder the industry.
The COVID-19 impact:
COVID-19 outbreak has adverse effects on most of the businesses across the globe, including the medium density fiberboard market. Closed foundries and canceled events in the medium density fiberboard industry is not spared by the rising coronavirus infections from China. With international trade being canceled, the infectious disease also has a global impact. The lockdown in several regions has severely impacted the medium density fiberboard market around the world. Moreover, major players like Kronospan Limited sending its workers to quarantine (those who require) and working with reduced workforce strength will negatively impact the flourishing industry.
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Key participants include Dongwha Malaysia Holdings Sdn. Bhd., Kronospan Limited, Dare Panel Group Co., Ltd, EGGER Group, Norbord Inc., Georgia-Pacific, Kastamonu Entegre, ARAUCO, West Fraser Timber Co. Ltd, and Nag Hamady Fiber Board Co., among others.
Further key findings from the report suggest
- MDF is considered more stable than solid wood due to its superior grade. MDF has better resistivity towards changes in humidity & heat and is hence preferred for cabinetry, flooring, and furniture.
- Among the regional segment of the medium density fiberboard industry, Asia Pacific is leading the market, and it will continue to dominate with an estimate to register a decent growth rate of 6.5% over the forecasted period.
- In Europe, Germany, which leads the construction industry in the region, is embarking on a new era of the high standard of living.
- The United States, India, and China are expected to dominate the construction industry over the forecasted period.
- Among the Product segment of the medium density fiberboard industry, Standard MDF is leading the market with 71.7% of the global market share, and it will continue to dominate with an estimate to register the highest growth rate of 6.5% over the forecasted period.
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Medium Density Fiberboard Market Segmentation:
For the purpose of this report, Reports and Data have segmented into the medium density fiberboard market on the basis of product, type, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Standard MDF
- Moisture Resistant MDF
- Fire Resistant MDF
Type Outlook (Revenue, USD Billion; 2017-2027)
- E0 MDF
- E1 MDF
- E2 MDF
Application Outlook (Revenue, USD Billion; 2017-2027)
- Interior Decoration
Over the years, mergers and acquisitions, collaborations, and partnerships have played a pivotal role in companies’ plans of expanding customer base and gaining a robust footing in the market. Rising investments by the key industry players for the R&D activities will further bolster market growth over the analysis period.
The report also utilizes key statistical tools such as SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and venture return analysis to offer better insights into the market landscape. The report also covers recent developments and trends and provides a comprehensive industry overview to help readers understand the complete scenario and dynamics of the Medium Density Fiberboard market.
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Regions covered by the report:
- North America (U.S.A., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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