The medium-densityfiberboard market size is expected to reach USD 55,791.6 million by2027, exhibiting a CAGR of 5.5% during the forecast period. The growing demandfor furniture cabinetry and wood flooring subsurface will foster the healthygrowth of the market, states Fortune Business Insights, in a report, titled “Medium-Density Fiberboard Market Size,Share & Industry Analysis, By Type (Standard, Moisture Resistant,Fire-Rated), Application (Furniture, Construction & Flooring, InteriorDesigning, Packaging, and Others), and Regional Forecast, 2020-2027.” Themarket size stood at USD 39,765.6 million in 2019.
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Market Driver:
Heavy Demand for MDF in Furniture Manufacturing to PropelGrowth
Theshift from plywood to MDF for the manufacturing of tables, sofas, beds, andlibrary shelves will have an excellent impact on the global market. Thecost-effectiveness of MDF compared to plywood along with its sturdy structurewill spur opportunities for the market, in turn, boosting the growth of themarket. The superior properties of MDF make it an excellent alternative toplywood, thus enabling speedy expansion of the market. The growing utilizationof MDF in commercial spaces is expected to bolster the healthy growth of themarket. The increasing renovation and revamp of offices will bode well for themarket in the near future.
Disrupted Supply Chain to Impede Business Amid Coronavirus
Thetimber industry has witnessed a massive drop in revenue owing to the impositionof lockdowns and restrictions to curb coronavirus spread. The disrupted supplyof wood and consequent products like wood fibers will further aggravate thegrowth of the market. However, the work from culture has resulted in enormousspending on furniture such as tables, chairs, stands, and dining counters.Besides, the rising inclination towards mesmeric aesthetics for home furnitureamong consumers will enable speedy expansion of the market in the forthcomingyears.
The report on the medium-density fiberboard market features:
- Comprehensive study of the market
- Essential facts about prominent players
- Main regions in the market
- Key drivers and trends
- Significant development
- COVID impact
Regional Analysis:
Significant Demand for Furniture to Stimulate Market in AsiaPacific
Themarket in Asia Pacific stood at USD 23,069.4 million in 2019. The growth in theregion is attributed to the significant demand for medium-density fiberboardfor construction & flooring applications. The market is primarily driven byChina, which currently holds about 90% share on the volume basis in theregional market. The market in China is projected to grow at a CAGR of over 6%during the forecast period. The growing utilization of MDF in India andSoutheast Asia for the production of furniture cabinetry and aestheticallydesigned interiors for the residential sector will contribute positively to themarket in the region. The market in North America is expected to hold thelargest share during the forecast period owing to the increasing spending ofpeople on mesmeric visual impressions in the interiors of the houses andoffices.
Key Development:
September 2019: Arauco announced that it hasacquired Prime-Line, Inc., a private company dealing in the manufacture of MDFmolding and millwork products.
The Report Lists the Key Companies in the Medium-DensityFiberboard Market:
- Arauco (Chile)
- Kaindl KG (Austria)
- Wayerhaeuser (U.S.)
- Unilin (Belgium)
- Uniboard (Canada)
- Daiken Corporation (Japan)
- VRG Dongwha (Vietnam)
- Roseburg Forest Products (U.S.)
- Fantoni Spa (Italy)
- Greenpanel (India)
- Rushil Décor (India)
- Swiss Krono Group (Switzerland)
- Centuryply (India)
- West Fraser Timber Co. Ltd. (Canada)
- Dynea (Norway)
- Duratex (Brazil)
- Other Key Players
