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.
The report expounds on the competitive scenario of the Medium Density Fiberboard Market and evaluates the current position of each market player using analytical tools including SWOT analysis, Porter’s Five Forces analysis, and Capacity Utilization analysis.
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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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)
Furniture
Construction
Interior Decoration
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Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
MEA
Latin America
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