medium-density fiberboard Market Globe Key Updates, Demand, Size, and Industry Forecast to 2027
The medium-density fiberboard market size is 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 wood flooring subsurface will foster the healthy growth 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, Interior Designing, Packaging, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 39,765.6 million in 2019.
Market Driver:
Heavy Demand for MDF in Furniture Manufacturing to Propel
Growth
The
shift from plywood to MDF for the manufacturing of tables, sofas, beds, and
library shelves will have an excellent impact on the global market. The
cost-effectiveness of MDF compared to plywood along with its sturdy structure
will spur opportunities for the market, in turn, boosting the growth of the
market. The superior properties of MDF make it an excellent alternative to
plywood, thus enabling speedy expansion of the market. The growing utilization
of MDF in commercial spaces is expected to bolster the healthy growth of the
market. The increasing renovation and revamp of offices will bode well for the
market in the near future.
Browse Complete Report Summary @ https://www.fortunebusinessinsights.com/medium-density-fiberboard-market-104027
The
coronavirus incident has caused colossal loss to several industries across the
globe. The governments of several countries have instigated lockdown to thwart
the spread of this deadly virus. 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 and get back to normality. Our well-revised reports will
help companies to receive in-depth information about the present scenario of
every market so that you can adopt the necessary strategies accordingly.
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
Disrupted Supply Chain to Impede Business Amid Coronavirus
The
timber industry has witnessed a massive drop in revenue owing to the imposition
of lockdowns and restrictions to curb coronavirus spread. The disrupted supply
of wood and consequent products like wood fibers will further aggravate the
growth of the market. However, the work from culture has resulted in enormous
spending on furniture such as tables, chairs, stands, and dining counters.
Besides, the rising inclination towards mesmeric aesthetics for home furniture
among consumers will enable speedy expansion of the market in the forthcoming
years.
Regional Analysis:
Significant Demand for Furniture to Stimulate Market in Asia
Pacific
The
market in Asia Pacific stood at USD 23,069.4 million in 2019. The growth in the
region is attributed to the significant demand for medium-density fiberboard
for construction & flooring applications. The market is primarily driven by
China, which currently holds about 90% share on the volume basis in the
regional 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 and
Southeast Asia for the production of furniture cabinetry and aesthetically
designed interiors for the residential sector will contribute positively to the
market in the region. The market in North America is expected to hold the
largest share during the forecast period owing to the increasing spending of
people on mesmeric visual impressions in the 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 millwork products.
The Report Lists the Key Companies in 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
Comments
Post a Comment