Globally and regionally, the medium density fibreboards market is found to occupy a CAGR value of 5% during the market forecast period . It has been found that the market is expected to reach a market value of USD 50 billion by 2026.
It was found that fibreboards are engineered wood materials that are made by breaking up softwood fibers or hardwood fibers. Their density ranges from 600kg per meter cube to 800 kg per meter cube. They are comparatively denser than plywood and consist of some kind of separate wood fibers. Its applications are very much similar to that of plywood. Medium-density fibreboards are often lightweight fibers that have a good digit of strength to weight ratio. These are in good use in furniture, building materials, and also for interior decoration. They have some other properties like they are highly resistant to temperature, fire, and also to moisture.
Demand for the use of MDF as the staple product is the best choice for the manufacturing industry. This was the preferred choice that was so adopted by the key players. The rise in growth for the use of branded, readymade, and low-standard furniture is rising daily which is steering up the market growth and market demand.
COVID 19 Analysis
The outbreak of the pandemic and the direct and indirect influence of COVID on different end-user units. COVID led to the improvement of lockdown and shutdown regulations throughout the world. The upsurging of the pandemic led to a temporary halting in construction activities which also includes business activities. It deteriorates the demand for medium-density fibreboards. COVID hurts the manufacturing units. This pandemic has led to delay or disruptions in projects. Due to this up to 16% of the projects in the region of the United States, have suffered from the loss of raw materials. About 11% of projects will mark a less availability of craft workers. Moreover, in the majority of the project, some of the subcontractors experienced a shortage of government workers due to which the work was left uncompleted. Lockdown and shutdown led to the disruption of economic activities. Some of the other stores like medical stores, hospitals, and supermarkets have experienced temporary halting. Globally, it has been marked that the furniture market covers 65% of household furniture, whereas 15% is covered by office furniture, hotels include 15% whereas others comprise 5%. In the upcoming years, it was found that the furniture market covers a market area of about 20%.
Some of the market players operating here in the forecast period are
The competitive landscape gives details about the key competitors playing in the market. It also gives information about the profiles of the market players. The company has targeted 60% of the medium-density fibreboard market share in the next year. The wood-based products manufactured by the company are used basically as backbone materials for making furniture. Moreover, the growth in both residential and commercial units is driving up the MDF market.
The presence of more of the economic growth along with contributing the interest at low rates has become one of the most important driving forces of the medium density fibreboards industry. Giving project approvals to the MDA raises the market growth. Expanding the infrastructure of the office by certain key players and then competing with the global market increases the expansion of medium-density fibreboards market size. This increases the demand for construction projects bringing a positive effect on the medium-density fibreboards market growth. The rise in demand for furniture works and using more interior design materials brings a growth of the market. The rise in demand for furniture along with the rise in its demand for some of the construction activities is rising in the business sector.
Growth in the application segment for furniture and construction work increases the growth opportunities. The burgeoning industry along with the construction units especially in developing regions are the important factors that raise the business. The government in some of the regions is helping up the people to use wood panels, which is propelling up the market opportunity. The rise in urbanization, global growth in population, and rise in disposable income levels help in upsurging the market size. An increase in commercial and residential areas boosts the sale of the industry in these upcoming years. The manufacturers here are preceding and intricating the types of machinery and the finishing techniques for producing excellent finished products.
Unavailability of proper raw materials at the desired time degraded the growth of the industry. The ongoing COVId situation has caused delays in the completion of the project work.
The upsurging of growth during the forecast period has helped in rising market growth. The base period is that during which maximum growth occurred.
Emitting a large amount of gas from the buildings and furnishing units leads to VOCs. Strict rules and regulations of the government hamper up the market size and market growth.
Globally, the medium density fibreboards market is being classified into cabinet, flooring activities, furniture work, entrance doors and millwork, and packaging activities. Moreover, the packaging segment occupies a huge position thus consisting of several factors like fibreboard panels acting as an alternative for wood. They have been used excessively for producing furniture used for both commercial and residential purposes. As per the end-users, the medium-density fibreboard market has been divided into residential, commercial, and some institutional sectors. The residential segment contributes more towards the market growth during the market forecast period.
Technological innovations brought improvement in the production units. Technology helps in driving up the demand for the use of medium-density fibreboards solutions during the forecast period. Technology led to the construction segment for covering up major medium density fibreboard market share. Technology brought superior qualities that were not noticed.
The market has been extended to various regions where the market is being classified into North American, Asia Pacific region, some of the European and some regions present in the rest of the world. Spending more money on the upcoming countries in the regions of China and India helps in cooperating up with the demand for residential housing. This helps in driving up the construction units during the market forecast period. Geographically and regionally, it was found that the Asia Pacific region owes a huge market share. Here, it was marked that this region is in great demand where they can get all the furniture and housing construction facilities. Growth in population, rise in income level of the public and, encouraging the people to improve their standard of living to raise the market size. India is marked to be the third-largest industry and will attain more success by 2030. It has contributed to the GDP count to about 15% by the end of the forecast period.
The report signifies the market scenario based on residential along with commercial applications, new construction, and replacement activities. It has been marked that MDF has been used for embossing and manufacturing furniture panels. As per the estimation by the IMARC Group, the medium-density fibreboard industry grows at a CAGR value of 8.4% during the market forecast period of 2021-2026. Here you can see that the growth in the furniture industry helped in driving up the market growth. The report covers the expansion in the market size and the market forecast period during which maximum growth took place in the market during which maximum growth took place.
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product, By Application, By End-user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Arauco (Chile), DAIKEN CORPORATION (Japan), Dare Panel Group Co. Ltd (China), Duratex SA (Brazil), EGGER Group (Austria), Eucatex SA (Brazil), Fantoni Spa (Italy), Masisa (Grupo Nueva Company) (Chile), Kastamonu Entegre (Turkey), Korosten MDF manufacture (Ukraine), Kronospan (Czech Republic), and Norbord Inc. (Canada).|
|Key Market Opportunities||
|Key Market Drivers||Building materials, interiors, and furniture|
Frequently Asked Questions (FAQ) :
global medium density fiberboards market valuation can reach USD 50 billion by 2030.
The global medium density fiberboards market is set to expand at 5% from 2022 to 2030.
Applications of MDF in building materials, interiors, and furniture is the major driver of the MDF market.
The residential segment can command a huge share of the MDF market owing to its application in wood paneling and kitchen cabinets.
EGGER Group, Norbord Inc., Dare Panel Group Co. Ltd, Kastamonu Entegre, Kronospan, DAIKEN CORPORATION, Duratex SA, Fantoni Spa, Eucatex SA, Korosten MDF manufacture, Masisa, and Arauco are key players of the global MDF market.
Based on application, the industry has been classified into both residential and construction units. Here it was also found that the residential unit holds the major market share.
The rise in environmental concerns for limiting the availability of raw materials in time spurs up the market demand and rise in market growth. It represents the major marketing trends in the global market.
Reduction in the investment plans and termination in the projects is experienced in the fibreboard industry. Normalization of business activities during the time of COVID. The construction activities were affected which in turn deteriorated the demand for constructing and using raw materials. COVID also deteriorated the employment of a Population growth number of people.