According to the latest report by IMARC Group, titled "Medium-Density Fibreboard (MDF) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global medium-density fibreboard (MDF) market size reached US$ 22.4 Billion in 2021. Medium-density fibreboard (MDF) refers to an engineered wood panel manufactured from cellulosic fibre that is combined with a synthetic resin using heat and pressure. It includes scrap, wood, recycled paper, carbon fibres and polymers, glass, sawmill off-cuts and bamboo. It is a composite panel that is smooth, flat, dense, uniform and free of grain and knot patterns. Due to its homogenous density structure, it is widely used in the fabrication of numerous products using precise and intricate finishing and machining techniques. In comparison to particle board or plywood, it contains no voids and delivers sharp edges, thus making it an ideal substance for the manufacturing of kitchen cabinets, furniture, door parts, flooring and moldings.
Global Medium-Density Fibreboard (MDF) Market Trends:
The global market is primarily driven by the growing product demand from the construction industry. Coupled with the rising investments in infrastructural development projects and remodeling activities, this is providing a boost to the demand for MDF across the globe. In line with this, the escalating preference for aesthetically designed interiors and furniture is creating a positive market outlook. Apart from this, numerous leading manufacturers are heavily investing in the production of MDF using rice and sugarcane bagasse on account of the growing focus on sustainable development. In addition to this, the rising utilization of hydrophobic resin in the fabrication of MDF helps in preventing damage due to water spillage and humidity, due to which it is gaining widespread prominence among the masses. Since MDF provides a high-durability rate and extended lifespan in a cost-effective manner, there has been a considerable increase in the product demand on the global level. Furthermore, continuous technological advancements in the manufacturing process are acting as other major growth-inducing factors. Other factors, including rapid industrialization and urbanization, the introduction of ready-to-assemble (RTA) products, and extensive research and development (R&D) activities conducted by key players to launch improved product variants, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 33.3 Billion by 2027, exhibiting a CAGR of 6.7% during 2022-2027.
- The market has been segmented into residential and commercial applications, wherein the residential application exhibits a clear dominance in the market.
- The market has been classified into new construction and replacement applications, among which the new construction application segment presently accounts for the largest market share.
- On the basis of the region, the market has been divided into Asia Pacific, Europe, North America, Latin America and the Middle East and Africa. At present, the Asia Pacific region holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Dynea AS, M. Kaindl OG / Kaindl Flooring GmbH, Sonae Arauco and Duratex.
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