$37+ Billion Medium-Density Fiberboard Market Size, Share, Trends and Forecast to 2024by IMARC Group Market Research Reports
The global medium-density fibreboard (MDF) market has witnessed a healthy growth over the past few years. This can be accredited to the increasing use of medium-density fibreboard in the construction industry as it is a cost-effective and environment-friendly.
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Medium-density fibreboard (MDF) is a wood product made by mixing wood fibres with adhesives to form flat panels. It offers superior quality as compared to solid wood or the other compressed manufactured wood products such as plywood. Owing to this, it is used in a wide variety of residential and commercial projects, such as flooring, toys, furniture, ceiling moulding, cabinetry, industrial packaging, etc. A new research report by IMARC Group, titled “Medium-Density Fibreboard Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global medium-density fiberboard market reached a value of US$ 23.2 Billion in 2018, registering a CAGR of 7.8% during the year 2011-2018. The report further anticipates the market to reach a value of US$ 37.7 Billion by 2024.
Global Medium-Density Fibreboard Market Drivers/Constraints:
- Medium-density fibreboard is manufactured from recycled wood which helps in saving trees and protecting the environment. The increasing environmental concerns among the consumers are fuelling the demand for medium-density fibreboard.
- Medium-density fibreboard does not expand or contract due to heat and humidity as opposed to solid wood. As a result, it is extensively used in kitchens and bathrooms in high humid and tropical regions. This, in turn, has bolstered the sales of medium-density fibreboard in these regions.
- Due to the growing population, rapid urbanisation, and rising disposable incomes of the consumers, there has been an increase in the number of commercial and residential spaces. This is projected to create a positive impact on the medium-density fibreboard market.
- The strict rules and regulations set up by the government regarding the use and manufacturing of medium-density fibreboard restricts the market growth. Moreover, the high-maintenance costs, lower strength compared to solid wood and water soaking issues are some of the other factors restraining the overall growth of the market.
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Breakup by Application:
The report has categorised the application of the global medium-density fibreboard (MDF) into residential and commercial, and new construction and replacement segments.
Breakup by Residential and Commercial Applications
Currently, the residential sector represents the largest application segment due to the expanding applications of medium density fibreboard in doors, shelving, furniture panels and embossing. On the other hand, rapid industrialization, particularly in the developing nations, has accelerated the demand for medium-density fibreboard in commercial applications including moulding, millwork, laminating and finishing, and edge shaping and machining.
Breakup by New Construction and Replacement Application
1. New Construction
The report finds that the new construction segment dominates the global medium-density fibreboard market. In this segment, medium-density fibreboard is used for interior designing and building applications such as window boards, wall linings, skirtings and architraves, decorative facades as well as the core material for some floorings.
Breakup by Region
3. North America
4. Latin America
5. Middle East and Africa
On a geographical front, Asia-Pacific represents the largest market for medium-density fibreboard due to the increasing disposable incomes, rapid expansion of the construction sector and improving standards of living in the region. Other major regions are North America, Europe, Latin America, and Middle East and Africa.
The global medium density fibreboard industry consists of numerous small, medium and large players, due to which a high degree of competition prevails in the industry. Some of the leading players operating in the market are:
M. Kaindl KG
Read more information about the market: medium density fiberboard manufacturers
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Created on Jul 22nd 2019 03:15. Viewed 254 times.
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