The Global Medium Density Fiberboard Market has recently been analyzed and explored by Fortune Business Insights™ in their latest market research report. The team of dedicated analysts and researchers has gone to great lengths to provide a comprehensive overview of both current and future scenarios pertaining to the Medium Density Fiberboard Market. As a result, this report is packed with valuable insights that will be highly advantageous for industry players looking to maintain a competitive edge.
The report also highlights limiting factors and regional industrial presence that may impact market growth trends beyond the forecast period of 2032. The market research aims to gain a complete understanding of the industry's potential and provide information that will help companies to make informed decisions. The Medium Density Fiberboard Market Report is an impressive 100+ page document that includes a comprehensive table of contents, a list of figures, tables and graphs, as well as a comprehensive analysis.
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Forecast Growth Projected:
The global medium density fiberboard market size stood at USD 42.26 billion in 2023 and is projected to grow from USD 44.84 billion in 2024 to USD 70.98 billion by 2032 at a CAGR of 5.6% during the forecast period (2024-2032).
Segmentation
By application, this market is classified into furniture, construction & flooring, interior designing, packaging, and others. Currently, furniture holds the leading share among other applications. Owing to its cost-effective characteristics, MDF is promptly substituting plywood in the manufacture of furniture.
On the basis of type, the global market is segregated into standard, moisture resistant, and fire-rated.
In terms of geography, the global market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Drivers and Restraints
Changing Demand from Plywood to MDF to Stimulate Market Growth
As both MDF and plywood have comparable characteristics, both of them have been principally employed in the manufacturing of furniture items such as tables, beds, sofas, as well as library shelves. MDF is substantially lower in terms of price in comparison with plywood, while having absence of particle grain and lumps in its structure.
On account of these characteristics, this fibreboard ascertains to be an outstanding alternative to plywood for application in areas wherein moisture and impact resistance are not the chief necessities. Therefore, this is expected to bolster the medium-density fiberboard market growth during the forecast period.
List of the Key Players in the Medium Density Fiberboard Market:
Arauco (Chile)
Centuryply (India)
Daiken Corporation (Japan)
Duratex (Brazil)
Fantoni Spa (Italy)
Greenpanel (India)
M. Kaindl KG (Austria)
Roseburg Forest Products (U.S.)
Rushil Décor (India)
Swiss Krono Group (Switzerland)
Uniboard (Canada)
Unilin (Belgium)
VRG Dongwha (Vietnam)
West Fraser Timber Co. Ltd. (Canada)
Regional Insights
Asia Pacific to Lead Market due to Increasing Presence of Manufactures
Asia Pacific held the maximum medium-density fiberboard market share and was worth USD 22.29 billion in 2019.
In Asia Pacific, the market is steered by the leading country, China, which presently owns about 90% share on the volume foundation in the regional market.
North America has witnessed massive growth in the former year, therefore, it is a crucial region for product manufacturers. The market in North America is estimated to be directed by the surging expenditure of people on prominent attractive visual imitations in centers of the houses and workplaces.
Competitive Landscape
Collaborations and Boosted Distribution Networks Are Key Tactics of Principal Companies
Product invention & collaborations with suppliers to advance the sales network are vital tactics applied by prime companies to sustain their position in the market.
Arauco is one of the most important corporations functioning in the market. The company is recognized for producing progressive wood composite boards utilizing an automatic manufacturing stage.
Industry Development:
December 2020: Arauco acquired a majority stake in Odd Industries, an ethical industrial AI developer. The partnership aims to combine AI with Arauco’s LiDAR expertise to support sustainable forestry and combat climate change.
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