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The global medium-density fiberboard market reached a value of US$ 25.12 Billion in 2020.
According to the estimates by IMARC Group, the global medium-density fiberboard market is expected to grow at a CAGR of 8.4% during 2021-2026.
The expanding construction industry, coupled with the growing number of commercial and residential spaces, is currently driving the global market for medium-density fiberboard.
The rising environmental concerns towards the limited availability of natural timber are propelling the demand for medium-density fiberboard, thereby representing one of the major trends in global medium-density fiberboard market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halts in numerous construction and building activities, thereby hampering the overall demand for medium-density fiberboard.
On the basis of application, the market has been bifurcated into residential and commercial, where the residential sector holds the largest market share.
On the basis of construction, the market has been divided into new construction and replacement applications. Currently, new construction accounts for the majority of the total market share.
Region-wise, the global medium-density fiberboard market has been segmented into Asia Pacific, North America, Europe, Latin America, and Middle East and Africa, where Asia Pacific exhibits a clear dominance in the market.
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