Medium Density Fiberboard Market Growth Projection to 2030

Insights from future market research:

In 2021, themedium-density fiberboard marketwas worth USD 51978.9 million. A compound annual growth rate (CAGR) of 4.72% is predicted for the market industry, which is expected to increase from USD 55409.50 million in 2022 to USD 86673.17 million by 2030. (2022 - 2030). The primary market factor driving the market is the growing usage of the product in construction and furniture applications.

The need to strengthen the sustainability of the building industry has resulted in a rise in the demand for wood products includingplywood, medium-density fiberboard, and particle boards. For instance, the Japanese Ministry of Agriculture, Forestry, and Fisheries (MAFF) recently passed a regulation to promote the use of wood in the construction of public structures. Due to these measures, it is projected that the market for these "wood-based products" would soon grow. This kind of medium-density fiberboard is becoming more popular since it may be used as a sustainable material. It has gained popularity among consumers who support the green construction movement since it is made from wood waste. The US Census Bureau predicts an increase in sales of furniture and home goods to around USD 13.31 billion in November 2021 from USD 12.44 billion the previous month. Growing populations in countries like India, China, Brazil, and the U.S. have increased demand for housing and public infrastructure, according to market dynamics; this is projected to soon be favourable for the medium-density fiberboard business.

With more people having money to spend, there will be more demand for products that improve the aesthetics of living spaces. The rising emphasis on creating smart homes and visually beautiful interiors has raised demand for wood flooring.

Due to their comparable properties, medium-density fiberboard and plywood are frequently used in the creation of furniture such as tables, couches, beds, and library shelves. Medium-density fiberboard is significantly less costly and has a smoother surface than plywood. Due to these qualities, this fiberboard is an excellent alternative to plywood in situations where moisture and impact resistance are not crucial requirements. As a result, these factors have recently increased the medium-density fiberboard market CAGR. Nevertheless, technical breakthroughs have led to the development of medium-density fiberboard with greater durability and a longer lifespan, and improvements to the production process are further factors supporting the rise of the Medium Density Fiberboard market revenue.

Regional Insights on Medium-Density Fiberboard

The analysis offers market information for each region separately, including North America, Europe, Asia-Pacific, and the Rest of the World. The market for medium-density fiberboard in Asia-Pacific, which had sales of USD 22298.94 million in 2021, is anticipated to grow significantly throughout the research period. As construction activity in China, India, and Japan increases, so does the need for medium-density fiberboard in the area. China accounted for around 40% of the global share, according to the market analysis. China's use of medium-density fiberboard (MDF) has risen significantly, mostly as a result of the wealth of improvements made in the residential and commercial building sectors, which are backed by the country's booming economy.

Between January and April 2022, well-known Chinese furniture manufacturers earned total profits of CNY 10.06 billion (USD 1.5 billion), up 2.9 percent over the same period the previous year, according to the Ministry of Industry and Information Technology. Moreover, the Asia-Pacific region's medium-density fiberboard market in India grew at the quickest rate, while the market in China had the biggest market share.

Also, the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil are among the important nations examined in the market analysis.

Due to the rising amount of rehabilitation work being done by customers, Europe holds the second-largest proportion of the global market for medium-density fiberboard.

In addition, the German medium-density fiberboard market had the biggest share, and the European region's fastest-growing market for this product was the UK.

The medium-density fiberboard market in North America is anticipated to expand at the quickest CAGR between 2022 and 2030. This is because more individuals are spending money to decorate the interiors of their homes and offices with captivating visual effects. Also, in the North American area, the US medium density fiberboard market had the greatest share and the Canada medium density fiberboard market had the quickest rate of growth.

Market segmentation:

Standard MDF, moisture-resistant MDF, and fire-resistant MDF are all included in the market segmentation based on product.

The standard medium-density fiberboard segment, which made up the bulk of the medium-density fiberboard market revenue in 2021, according to market data, held the majority share. Expanding product applications in the furniture manufacturing sector and theconstructionindustry are predicted to be the main growth drivers for the category.

Based on application, the market is divided into cabinet, flooring, furniture, moulding, door and millwork,packagingsystem, and others. In 2021, the furniture industry dominated the overall market. Throughout the period 20222030, this segment is anticipated to develop at a quicker rate than any other, according to the market prediction. This increase in demand was mostly brought on by factors like the substitution of wood for medium-density fiberboard panels and the growing usage of RTA products for residential and commercial furniture.

Thus, growing MDF uses in furniture implants have a beneficial influence on market expansion.

The market data has been divided into residential, commercial, and institutional categories by end users. Due to a rise in structures brought on by urbanisation and population growth, the residential sector, which led the market in 2021, is anticipated to develop at a higher rate throughout the forecast period, 20222030. The steadily rising population and disposable income of the majority population in various growing nations, such as India and Brazil, is driving up demand for medium-density fiberboard panels for furniture, flooring, and house interiors. Due to the rapid industrialisation of developing nations, the commercial market had the largest growth. the materials employed in industrial settings for edge shaping, moulding, and millwork.

Key Vendors:

Important players include Duratex SA, Kronospan, Dare Panel Group Co., Norbord Inc., and DAIIN Corporation.

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