Medium Density Fiberboard Market - An Overview
The global medium density fiberboard (MDF) market is expected to witness strong growth during the forecast period between 2021 and 2031.
MDF is a wood panel, which is obtained by coalescing wood fibers, which are produced from decomposing hardwood and softwood in a fiberator.
MDF has a non-directional grain structure, which makes the product suitable for use in cutting, drilling, and machining processes. MDF does not possess any knots, which also makes it easier for finishing.
The COVID-19 pandemic adversely affected the global medium density fiberboard market. With governments imposing strict lockdowns and social distancing norms, manufacturing facilities were forced to shut down partially or completely, in a bid to contain the spread of the virus.
However, with the subsequent reduction in cases and availability of different vaccines, the MDF demand is expected to increase and help in the growth of the overall medium density fiberboard market, in future.
Medium Density Fiberboard Market - Trends and Opportunities
Rising use of MDF in furniture manufacturing such as tables and sofas has emerged as the key growth driver for the global medium density fiberboard market.
MDF has several benefits over plywood such as lower costs, which is expected to drive the MDF demand in the coming years.
They also have lower density than plywood and this aspect of MDF is expected to fuel product demand, in future.
The furniture application segment is expected to make the largest contribution to the overall medium density fiberboard market in the coming years, owing to the increasing deployment of MDF in the development of different types of furniture products.
The moisture-resistant type of medium density fibreboard is expected to contribute the most to the overall market, owing to its rising use in interior designs, particularly in the office and hospitality sectors worldwide.
Medium Density Fiberboard Market - Competitive Landscape
The global medium density fiberboard market has several well-established players, many of whom are expected to account for a large share in the overall market, in the coming years.
Key players in the global medium density fiberboard market are expected to make huge investments in research and development activities in a bid to produce an improved quality of product, which would meet the requirements of a large customer base.
The smaller players in the global medium density fiberboard market will seek investments from governments and private investors, which could help them in their long-term growth.
Maintaining positive relations with key authorities and investors could help the lesser-known players seek additional assistance, in future if required.
Some of the key players in the medium density fiberboard market include Duratex, Centuryply, Rushil Decor, Uniboard, Egger, and Arauco.
Medium Density Fiberboard Market - Regional Assessment
The global medium density fiberboard market is divided into five regions, namely, North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
Asia Pacific is expected to provide profitable growth opportunities in the global medium density fiberboard market in the coming years. Rising MDF demand for construction and flooring activities in countries such as India and China is expected to be the key growth driver for the Medium density fiberboard market, in the region.
North America is another lucrative region in the medium density fiberboard market, due to the increased expenditure on visually-appealing interior designs by large population sections in countries such as the U.S and Canada, contributing to the growth of the overall market in North America.
Europe Medium density fiberboard market is expected to expand due to the rising renovation activities witnessed in countries such as UK and Germany. Opportunities in the Latin America medium density fiberboard market will thrive owing to the ease in availability of wood in countries such as Brazil.
Middle East and Africa is expected to witness moderate growth in the global medium density fiberboard market, in the coming years.