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The market for medium-density fiberboard is expected to grow at a CAGR of over 4% during the forecast period. A major factor driving the market studied is the increase in demand for MDF for furniture. Stringent government regulations are expected to hinder the growth of the market studied.
- The furniture segment dominated the market and is expected to expand at the fastest rate during the forecast period owing to the rapid growth in residential construction activities across the globe.
- Asia-Pacific dominated the market across the globe with the largest consumption followed by Europe.
The MDF market report include:
Key Market Trends
Residential- Fastest-growing end-user sector
- MDF, due to its superior grade, is considered more stable than solid wood. MDF has better resistivity towards changes in heat and humidity and is hence preferred for furniture, cabinetry, and flooring.
- MDF is further used in decorative doors and panels, sculptures and moldings, beds, sofas, etc. The growing construction of residential projects all across the world is expected to drive the market for MDF through the forecast period.
- India, China, and the United States are expected to dominate the residential construction market through the forecast period.
- In Europe, Germany, which leads the construction sector in the region, is embarking on a new era of high-rise living.
- Overall, the booming residential market is expected to drive the use of MDF in the particular sector through the forecast period.
Asia-Pacific Region to Lead the Market
- Asia-Pacific region dominated the global market holding a share of more than 60%. The increasing construction activities in China, South Korea, and Japan are boosting the demand for MDF in the region.
- China accounted for almost for more than 55% of the global share. The rapid growth in consumption of medium density fiberboard (MDF) in China has been majorly driven by the ample developments in the residential and commercial construction sectors, which are being supported by the growing economy.
- China’s real estate sector has been growing rapidly with increased investment by the government. Recently, property prices in China rose by about 30.0% due to increased activity in the real estate space.
- India is expected to be the third-largest construction market across the world by 2030, with its contribution to the GDP increasing to around 15% by 2030.
- Also, the size of the construction market in India is likely to reach up to USD 1 trillion by 2025. The country also has ambitious plans to rapidly boost the country’s public infrastructure and residential housing sectors in the next five years.
- Such factors in turn are likely to boost the demand for MDF market in the region.
The market for global medium density fiberboard is highly fragmented in terms of production. The top three players account for more than 10% of the global market share. The major companies in the market include Kronospan, Arauco, Sonae Ind?stria, Duratex, and Swiss Krono, among others.
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