The medium-density fiberboard market sizeis expected to reach USD 55,791.6 million by 2027, exhibiting a CAGR of 5.5%during the forecast period. The growing demand for furniture cabinetry and woodflooring subsurface will foster the healthy growth of the market, statesFortune Business Insights, in a report, titled “Medium-Density FiberboardMarket Size, Share & Industry Analysis, By Type (Standard, MoistureResistant, Fire-Rated), Application (Furniture, Construction & Flooring,Interior Designing, Packaging, and Others), and Regional Forecast,2020-2027.” The market size stood at USD 39,765.6 million in 2019.
The coronavirus incident has causedcolossal loss to several industries across the globe. The governments ofseveral countries have instigated lockdown to thwart the spread of this deadlyvirus. Such plans have caused disturbances in the production and supply chain.But, with time and resolution, we will be able to combat this stern time andget back to normality. Our well-revised reports will help companies to receivein-depth information about the present scenario of every market so that you canadopt the necessary strategies accordingly.
The report on the medium-densityfiberboard 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
Market Driver:
Heavy Demand for MDF in FurnitureManufacturing to Propel Growth
The shift from plywood to MDF for themanufacturing of tables, sofas, beds, and library shelves will have anexcellent impact on the global market. The cost-effectiveness of MDF comparedto plywood along with its sturdy structure will spur opportunities for themarket, in turn, boosting the growth of the market. The superior properties ofMDF make it an excellent alternative to plywood, thus enabling speedy expansionof the market. The growing utilization of MDF in commercial spaces is expectedto bolster the healthy growth of the market. The increasing renovation andrevamp of offices will bode well for the market in the near future.
Disrupted Supply Chain to ImpedeBusiness Amid Coronavirus
The timber industry has witnessed amassive drop in revenue owing to the imposition of lockdowns and restrictionsto curb coronavirus spread. The disrupted supply of wood and consequentproducts like wood fibers will further aggravate the growth of the market.However, the work from culture has resulted in enormous spending on furnituresuch as tables, chairs, stands, and dining counters. Besides, the risinginclination towards mesmeric aesthetics for home furniture among consumers willenable speedy expansion of the market in the forthcoming years.
Browse Complete Report Summary @ https://www.fortunebusinessinsights.com/medium-density-fiberboard-market-104027
Regional Analysis:
Significant Demand for Furniture toStimulate Market in Asia Pacific
The market in Asia Pacific stood at USD23,069.4 million in 2019. The growth in the region is attributed to thesignificant demand for medium-density fiberboard for construction &flooring applications. The market is primarily driven by China, which currentlyholds about 90% share on the volume basis in the regional market. The market inChina is projected to grow at a CAGR of over 6% during the forecast period. Thegrowing utilization of MDF in India and Southeast Asia for the production offurniture cabinetry and aesthetically designed interiors for the residentialsector will contribute positively to the market in the region. The market inNorth America is expected to hold the largest share during the forecast periodowing to the increasing spending of people on mesmeric visual impressions inthe interiors of the houses and offices.
Key Development:
September 2019: Arauco announced that it has acquired Prime-Line,Inc., a private company dealing in the manufacture of MDF molding and millworkproducts.
The Report Lists the Key Companiesin the Medium-Density Fiberboard 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
