Global Medium Density Fiberboard (MDF) Market Size & Share - Segmented by Product Type (Cabinets, Flooring, Furniture, Molding, Doors & Millwork, Packaging System), End-Use and Geography - Growth, Trends, and Forecast (2022 - 2030)
The global medium density fiberboard (MDF) market is expected to witness high CAGR during 2018-2023 (forecast period). The increasing demand from the new modern residential housing construction and demand from commercial buildings are driving the MDF market at a faster pace, specifically in the Asia-Pacfic region, which is expected to be the fastest growing market during the forecast period.
Furniture - the fastest growing Product Type
Owing to the change in lifestyle of today’s population, preference for furniture style has been changed drastically during the past years. Contemporary furniture consists of features, such as simple lines, square edged chairs, and different combination of colors. Furniture is made of medium density fiberboard owing to its high temperature resistance, fire resistance, moisture resistance and high durability. Usage of these boards, in furniture, has imparted properties, such as lightweight and high strength to weight ratio. Owing to these factors, furniture is rapidly growing with which medium density fiberboard is expected to witness the fastest CAGR during the forecast period (2018-2023).
Asia-Pacific Region to Lead the Market
China is the largest consumer and manufacturer of medium fiberboard in Asia-Pacific region. The construction sector in China grew by 3.19% Y-o-Y in the year 2017, compared to 2016. India has witnessed growth in furniture industry contributing to GDP. Many initiatives are taken by the Government of India to support the growth of the market. These initiatives include approval of GST bill, Single Window Interface for Facilitating Trade (SWIFT) scheme. These are the accelerating factors that would help to develop the market in this region, during the forecast period. In Japan, over 80% of construction sector have the usage of medium fiberboard, which is a clear factor that the market is expected to grow during the forecast period in this region. Hence, with the increasing demand from the various end-user industries, the demand for medium fiber board is expected to rapidly increase over the forecast period (2018-2023).
Notable Developments in the Medium Density Fiberboard Market
Jun 2018: Craig Bennet, a Cheshire businessman is pioneering a new technology to recycle the MDF waste, for which the firm MDF Recovery has recieved a fund of £165,000. Earlier the firm has attracted funding from SUEZ and Innovate UK.
Medium Density Fiberboard Market Major Players
Accsys Technologies
ARAUCO
Carter Holt Harvey Limited
Duratex
Fantoni, among others.
Reasons to Purchase Medium Density Fiberboard Market Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating end-user application in the MDF market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in Excel
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs
Furniture - the fastest growing Product Type
Owing to the change in lifestyle of today’s population, preference for furniture style has been changed drastically during the past years. Contemporary furniture consists of features, such as simple lines, square edged chairs, and different combination of colors. Furniture is made of medium density fiberboard owing to its high temperature resistance, fire resistance, moisture resistance and high durability. Usage of these boards, in furniture, has imparted properties, such as lightweight and high strength to weight ratio. Owing to these factors, furniture is rapidly growing with which medium density fiberboard is expected to witness the fastest CAGR during the forecast period (2018-2023).
Asia-Pacific Region to Lead the Market
China is the largest consumer and manufacturer of medium fiberboard in Asia-Pacific region. The construction sector in China grew by 3.19% Y-o-Y in the year 2017, compared to 2016. India has witnessed growth in furniture industry contributing to GDP. Many initiatives are taken by the Government of India to support the growth of the market. These initiatives include approval of GST bill, Single Window Interface for Facilitating Trade (SWIFT) scheme. These are the accelerating factors that would help to develop the market in this region, during the forecast period. In Japan, over 80% of construction sector have the usage of medium fiberboard, which is a clear factor that the market is expected to grow during the forecast period in this region. Hence, with the increasing demand from the various end-user industries, the demand for medium fiber board is expected to rapidly increase over the forecast period (2018-2023).
Notable Developments in the Medium Density Fiberboard Market
Jun 2018: Craig Bennet, a Cheshire businessman is pioneering a new technology to recycle the MDF waste, for which the firm MDF Recovery has recieved a fund of £165,000. Earlier the firm has attracted funding from SUEZ and Innovate UK.
Medium Density Fiberboard Market Major Players
Accsys Technologies
ARAUCO
Carter Holt Harvey Limited
Duratex
Fantoni, among others.
Reasons to Purchase Medium Density Fiberboard Market Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating end-user application in the MDF market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in Excel
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs
Frequently Asked Questions
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