Global Medium Density Fiberboard Market is valued approximately 63.92 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.35% over the forecast period 2021-2027. Medium Density Fiberboard is a composite wood product made of wood fibers mixed with wax and resin such as UF, and formed by applying high temperature and pressure. The growth of construction industry and interior decoration industry has led to the increase in demand of wood products. Furniture industry is a booming industry and many industry players are looking towards MDF as a substitute for low-density ply because of its smooth texture, durability and increased demand. As per the National Investment Promotion Agency of Indian government, furniture market by commercial sector is expected to attain USD 61.09 billion in 2023 at a CAGR of 11.97% from USD 32.61 Billion in 2018. Federal Reserve Economic Data of USA shows continuous growth in sales for furniture stores with $12 million in January 2021 from $ 8.6 million in January 2015, an increase of almost 30%. However, perception of MDF being light weight wood' and having lack of strength impedes the growth of the market over the forecast period of 2021-2027. Also, the penetration prospects of MDF as a substitute for ply in tier 2 and tier 3 cities is likely to increase the market growth during the forecast period.
Key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World are analysed to provide a holistic picture of Medium Density Fiberboard market. North America is the leading region across the world in terms of market share owing to the large number of market players in the region in the wood and furniture production. Asia-Pacific is poised to exhibit highest growth rate over the forecast period 2021-2027. Factors such as rising disposable income in India and China, growth of Construction industry and continued urbanization would be lucrative for the Medium Density Fiberboard Market in this region.
Major market player included in this report are:
Dongwha Malaysia Holdings Sdn. Bhd.
Dare Panel Group Co., Ltd
West Fraser Timber Co. Ltd.
Nag Hamady Fiber Board Co.
Century Plyboards (India) Limited
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Moisture Resistant MDF
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027
Target Audience of the Global Medium Density Fiberboard Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers