Medium Density Fiberboard Market
Growth Factors of Medium Density Fiberboard Market
The medium density fiberboard market size was valued at USD 42.26 billion in 2023, and the market is now projected to grow from USD 44.84 billion in 2024 to USD 70.98 billion by 2032, exhibiting a CAGR of 5.6% during the forecast period of 2024-2032.
During COVID-19 pandemic the complete wood industry has been disturbed by the spread of coronavirus. Many trades running in the universal market met limits in their manufacturing activities, which has disturbed the entire supply chain of this market.
The rising individuals has driven the demand for housing and public infrastructure, which is projected to profit the market in the future. The greater spending capacity of people will push the demand for products that can improve the aesthetics in living spaces. The rising status on the building of smart houses and attractively prearranged interiors have revived the market for wood flooring which develops the medium density fiberboard market growth.
The support from many governments through the world to surge the sustainability of the construction industry has provided a drive to the demand for wood products such as plywood, MDF, and unit boards. The use of this classification of medium density fiberboard is growing because of its usage as feasible materials. As it is organized from wood wastes, it has established a material of choice for clients supporting the green building improvement.
Comprehensive Analysis of Medium Density Fiberboard Market
The market can be segmented in various ways, depending on the focus of analysis such as by type, by application. Based on type, the market is segmented into standard, moisture resistant, and fire-rated. Based on application, this market is segmented into furniture, construction & flooring, interior designing, packaging, and others.
North America region is dominating the medium density fiberboard market share due to key demand for medium mass fiberboard for construction & floor tiles uses.
The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Arauco (Chile), Centuryply (India), Daiken Corporation (Japan), Duratex (Brazil), Fantoni Spa (Italy), Greenpanel (India), M. Kaindl KG (Austria), Roseburg Forest Products (U.S.), Rushil Décor (India), Swiss Krono Group (Switzerland), Uniboard (Canada), Unilin (Belgium), VRG Dongwha (Vietnam), West Fraser Timber Co. Ltd. (Canada), Weyerhaeuser (U.S.), Kronospan (Switzerland), Egger (Austria) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.
In June 2020, Centuryply declared its foray into the Indian e-commerce by authorizing an agreement with Indian e-commerce giant, Flipkart. In a first-of-a-kind deal, the building material company stepped into the e-commerce sector to benefit from the movement of online shopping and digital norm post the pandemic manifestation. To start with, the company announced its product lines, Club Prime, Sainik 710 and Sainink MR, on the platform and plans to deal other solutions in the forthcoming.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.6% during 2024-2032
Unit Value (USD Billion); Volume (MCM)
Segmentation By Type
- Standard
- Moisture Resistant
- Fire-Rated
By Application
- Furniture
- Construction & Flooring
- Interior Designing
- Packaging Systems
- Others
By Geography
- North America (By Type, By Application, By Country)
- U.S. (By Type)
- Canada (By type)
- Europe (By Type, By Application, By Country)
- Russia (By Type)
- Poland (By Type)
- Turkey (By Type)
- Germany (By Type)
- France (By Type)
- Italy (By Type)
- Spain (By Type)
- U.K. (By Type)
- Rest of Europe (By Type)
- Asia Pacific (By Type, By Application, By Country)
- China (By Type)
- India (By Type)
- Japan (By Type)
- Southeast Asia (By Type)
- Rest of Asia Pacific (By Type)
- Latin America (By Type, By Application, By Country)
- Mexico (By Type)
- Brazil (By Type)
- Rest of Latin America (By Type)
- Middle East & Africa (By Type, By Application, By Country)
- Iran (By Type)
- GCC (By Type)
- Israel (By Type)
- Rest of Middle East & Africa (By Type)
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