Pune, Oct. 27, 2020 (GLOBE NEWSWIRE) -- The global medium-density fiberboard market size is expected to reach USD 55,791.6 million by 2027, exhibiting a CAGR of 5.5% during the forecast period. The growing demand for furniture cabinetry and wood flooring subsurface will foster the healthy growth of the market, states Fortune Business Insights, in a report, titled “Medium-Density Fiberboard Market Size, Share & COVID-19 Impact Analysis, By Type (Standard, Moisture Resistant, Fire-Rated), Application (Furniture, Construction & Flooring, Interior Designing, Packaging, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 39,765.6 million in 2019.
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The report on the medium-density fiberboard market features:
- Comprehensive study of the market
- Essential facts about prominent players
- Main regions in the market
- Key drivers and trends
- Significant development
- COVID impact
Market Driver:
Heavy Demand for MDF in Furniture Manufacturing to Propel Growth
The shift from plywood to MDF for the manufacturing of tables, sofas, beds, and library shelves will have an excellent impact on the global market. The cost-effectiveness of MDF compared to plywood along with its sturdy structure will spur opportunities for the market, in turn, boosting the growth of the market. The superior properties of MDF make it an excellent alternative to plywood, thus enabling speedy expansion of the market. The growing utilization of MDF in commercial spaces is expected to bolster the healthy growth of the market. The increasing renovation and revamp of offices will bode well for the market in the near future.
Disrupted Supply Chain to Impede Business Amid Coronavirus
The timber industry has witnessed a massive drop in revenue owing to the imposition of lockdowns and restrictions to curb coronavirus spread. The disrupted supply of wood and consequent products like wood fibers will further aggravate the growth of the market. However, the work from culture has resulted in enormous spending on furniture such as tables, chairs, stands, and dining counters. Besides, the rising inclination towards mesmeric aesthetics for home furniture among consumers will enable speedy expansion of the market in the forthcoming years.
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Regional Analysis:
Significant Demand for Furniture to Stimulate Market in Asia Pacific
The market in Asia Pacific stood at USD 23,069.4 million in 2019. The growth in the region is attributed to the significant demand for medium-density fiberboard for construction & flooring applications. The market is primarily driven by China, which currently holds about 90% share on the volume basis in the regional market. The market in China is projected to grow at a CAGR of over 6% during the forecast period. The growing utilization of MDF in India and Southeast Asia for the production of furniture cabinetry and aesthetically designed interiors for the residential sector will contribute positively to the market in the region. The market in North America is expected to hold the largest share during the forecast period owing to the increasing spending of people on mesmeric visual impressions in the interiors of the houses and offices.
List of the Leading Companies Profiled in the Global Medium-Density Fiberboard Market:
- Arauco (Chile)
- M. Kaindl KG (Austria)
- Wayerhaeuser (U.S.)
- Unilin (Belgium)
- Uniboard (Canada)
- Daiken Corporation (Japan)
- VRG Dongwha (Vietnam)
- Roseburg Forest Products (U.S.)
- Fantoni Spa (Italy)
- Greenpanel (India)
- Rushil Décor (India)
- Swiss Krono Group (Switzerland)
- Centuryply (India)
- West Fraser Timber Co. Ltd. (Canada)
- Dynea (Norway)
- Duratex (Brazil)
- Other Key Players
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/medium-density-fiberboard-market-104027
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights on Impact of COVID-19 on Global Medium-Density Fiberboard Market
- Supply Chain Analysis & Challenges due to Covid-19
- Steps taken by Government / Companies to Overcome this Impact
- Potential Challenges and Opportunities due to COVID-19 Outbreak
- Global Medium-Density Fiberboard Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value and Volume)
- Standard
- Moisture Resistant
- Fire-Rated
- By Application (Value and Volume)
- Furniture
- Construction & Flooring
- Interior Designing
- Packaging
- Others
- By Region (Value and Volume)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By Type (Value and Volume)
TOC Continued…!
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Key Development:
September 2019: Arauco announced that it has acquired Prime-Line, Inc., a private company dealing in the manufacture of MDF molding and millwork products.
Have a Look at Related Research Insights:
Wood Flooring Market Size, Share & COVID-19 Impact Analysis, By Application (Residential and Commercial), and Regional Forecast, 2020-2027
Cellulose Market Size, Share & Industry Analysis, By Derivative Type (Commodity Cellulose Pulp, Cellulose Fibers, Cellulose Ethers, Cellulose Esters, Microcrystalline Cellulose, Nanocellulose, and Others), By End-Use Industry (Textile, Food, Chemical Synthesis, Pharmaceuticals, Construction, Paper & Pulp, Paints & Coatings, and Others), and Regional Forecast, 2019-2026
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