medium-density fiberboard Market Share Analysis | Industry Growth 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.
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
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.
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.
Browse Complete Report Summary
@ https://www.fortunebusinessinsights.com/medium-density-fiberboard-market-104027
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
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