Medium-density fibreboard (MDF) is a wood product made by mixing wood fibres with adhesives to form flat panels. It offers superior quality as compared to solid wood or the other compressed manufactured wood products such as plywood. Owing to this, it is used in a wide variety of residential and commercial projects, such as flooring, toys, furniture, ceiling moulding, cabinetry, industrial packaging, etc. A new research report by IMARC Group, titled “Medium-Density Fibreboard Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global medium-density fibreboard market reached a value of US$ 23.2 Billion in 2018, registering a CAGR of 7.8% during the year 2011-2018. The report further anticipates the market to reach a value of US$ 37.7 Billion by 2024.
Global Medium-Density Fibreboard Market Drivers/Constraints:
Application Insights:
The report has categorised the application of the global medium-density fibreboard (MDF) into residential and commercial, and new construction and replacement segments.
Currently, the residential sector represents the largest application segment due to the expanding applications of medium density fibreboard in doors, shelving, furniture panels and embossing. On the other hand, rapid industrialization, particularly in the developing nations, has accelerated the demand for medium-density fibreboard in commercial applications including moulding, millwork, laminating and finishing, and edge shaping and machining.
The report finds that the new construction segment dominates the global medium-density fibreboard market. In this segment, medium-density fibreboard is used for interior designing and building applications such as window boards, wall linings, skirtings and architraves, decorative facades as well as the core material for some floorings.
Regional Insights:
On a geographical front, Asia-Pacific represents the largest market for medium-density fibreboard due to the increasing disposable incomes, rapid expansion of the construction sector and improving standards of living in the region. Other major regions are North America, Europe, Latin America, and Middle East and Africa.
Competitive Landscape:
The global medium density fibreboard industry consists of numerous small, medium and large players, due to which a high degree of competition prevails in the industry. Some of the leading players operating in the market are:
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