The latest research study “Medium Density Fiberboard Market Research: Global Industry Trends, Share, Size, Growth and, Forecast 2022-2027” by IMARC Group, finds that the global medium-density fibreboard market size reached US$ 22.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 33.3 Billion by 2027, exhibiting a CAGR of 6.7% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What is MDF (Medium Density Fiberboard)?
Medium-density fibreboard (MDF) is an engineered wood product that is manufactured by breaking down hardwood and softwood residuals into wood fibres. These fibres are mixed with wax or resin to be compressed into flat panels under high temperature and pressure. It offers relatively superior quality than solid wood and compressed wood products since MDF has a higher density than plywood with reduced chances of fracturing. Additionally, it does not expand or contract amid extreme temperature fluctuations. As a result, it is widely utilized as an essential construction component across the residential and commercial segments for applications including flooring, furniture, cabinetry, industrial packaging and ceiling molding.
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Global Medium-Density Fiberboard Market Industry and Drivers:
The global market is primarily driven by significant growth in the construction sector. A considerable increase in construction activities across the globe, particularly in residential and commercial segments, can be attributed to rapid urbanization, changing lifestyle preferences of the masses and their inflating per capita income levels, especially in developing economies. MDF is extensively employed in the sector for building purposes on account of its strength and stability, thereby providing a thrust to the market growth. It is also utilized to provide precise and intricate finishing, as well as an aesthetic appearance to the end products. This has contributed to the widespread adoption of infrastructural development on the global level.
Moreover, MDF serves as a preferred construction material in high humid and tropical regions as it does not expand or contract when exposed to heat and humidity. The market is further driven by the introduction of eco-friendly product variants in the market. Supported by the enhanced focus on sustainable development and growing environmental concerns, this is significantly facilitating the uptake of these products. Some of the other factors contributing to the market growth include extensive product innovations and the rising utilization of superior adhesion techniques in the production processes.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global medium-density fibreboard market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on residential and commercial applications, and new construction and replacement applications.
Breakup by Residential and Commercial Applications:
As MDF is light in weight and serves as an effective alternative to solid wood or plywood, it finds numerous applications in the residential sector, wherein it is used in embossing and furniture panels.
Breakup by New Construction and Replacement Applications:
- New Construction
- Replacement Application
New construction accounts for the majority of the total market share. This can be attributed to the superior working properties and easy availability of MDF in a wide range of sheet thicknesses and sizes.
- Asia Pacific
- North America
- Latin America
- Middle East and Africa
On the geographical front, Asia Pacific represents the largest market owing to the burgeoning construction industry and the rising demand for better housing and furniture in the region. This can also be attributed to the population growth, and inflating income levels and improving standards of living of the individuals.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:
- Dynea AS
- M. Kaindl OG / Kaindl Flooring GmbH
- Sonae Arauco
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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