Global MDF Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global MDF Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Medium density fiberboard (MDF) is a kind of artificial board made of wood or plant fiber by mechanical separation and chemical treatment, mixed with adhesive and waterproofing agent, and then molded at high temperature and high pressure. It is an ideal artificial board. The structure of MDF is more uniform than that of natural wood, and it also avoids the problems of decay and insects. At the same time, it has small expansion and contraction and is easy to process. MDF is mainly used in the furniture industry, skirting board, lintel, packaging materials, door industry, etc. Due to the smooth surface of MDF, it is easy to paste various finishes, which can make the finished furniture more beautiful.

Market Overview:

The latest research study on the global MDF market finds that the global MDF market reached a value of USD 26514.98 million in 2022. It’s expected that the market will achieve USD 31990.87 million by 2028, exhibiting a CAGR of 3.18% during the forecast period.

The military conflict between Russia and Ukraine has been going on for some time, which has caused many impacts on all walks of life, especially the trade of energy and raw materials. As it is difficult to transport products from Odesa, most of the cargo transportation between Russia and Ukraine has had to stop. Even many countries have imposed trade embargoes on Russian products. Russia is a very big exporter of cork-sawn timber, birch plywood, and paper to Europe, but now these trade exchanges have stopped. The price of medium density fiberboard (MDF) in the Baltic Sea, Northern Europe, and Central Europe is rising.

In addition, Russia is a major natural gas supplier in Europe. Because of this military conflict, European countries' natural gas trade has also been sanctioned, resulting in domestic natural gas shortages in many European countries. Global energy prices have been rising, and the embargo on natural gas has aggravated the soaring energy prices. This will become a long-term problem because most European countries do not have enough alternative oil and gas resources, which will lead to an increase in road and sea transportation costs in the long run. Therefore, the already sky-high container freight rate will soon rise and remain at a high level.

For most European countries, the Russian-Ukrainian conflict has more negative effects on the timber trade. The German Wood Industry Association (HDH) predicts that due to the EU sanctions on Russian banks and the lack of transport capacity caused by Ukrainian truck drivers taking on more military tasks, the impact of the Russian-Ukrainian conflict on the German wood industry will be extensive, and the trade of forest products between Germany and Russia, Ukraine and Belarus will almost completely stop.

At the same time, due to the shortage of raw materials and labor loss caused by the Russia-Ukraine conflict, the import trade of wood products, furniture, and parts between Germany and Ukraine's neighboring countries such as Poland, Slovakia, Hungary and Romania will also be affected. As producers in these countries cannot purchase logs from Russia, Belarus and Ukraine, and they are further faced with supply chain problems, they may increase the purchase of German timber and semi-finished products. This will lead to a tight supply of wood raw materials in Germany and push up the price of wood.

Therefore, in the short term, the war will affect the trade of all walks of life, and as the main raw material of medium density fiberboard (MDF), wood will inevitably have a long-term impact on the medium density fiberboard (MDF) market.

Raw material prices fluctuate

Medium density fiberboard (MDF) are laminates made by directly fusing a resin-impregnated decorative paper sheet to a substrate. Raw materials include sawdust and resin. Therefore, it is very vulnerable to the impact of the prices of these two materials. The price of the wood itself is affected by the season and has a certain periodicity. In recent years, due to the impact of the epidemic, geopolitics, economic and trade wars, etc., the transportation of raw materials has been hindered, and prices have continued to fluctuate.

Policy and Regulatory Factors Restrictions

Medium density fiberboard (MDF) belongs to the wood processing industry. In the process of processing, enterprises may have problems such as low levels of pollution control, backward technology, and imperfect environmental protection measures. In recent years, the global management of environmental pollution has become more and more strict, so it will also strengthen control measures in this regard. In addition, governments around the world are also strictly controlling forest consumption, and more and more countries and regions are formulating new forest strategies to enhance forest resilience, strengthen forest resource protection and management, and promote sustainable forest development. It is also a big challenge for the development of the industry.

Region Overview:

In 2021, the share of the MDF market in Asia stood at 51.49%.

Company Overview:

Kronospan Limited is one of the major players operating in the MDF market, holding a share of 4.39% in 2022.

Kronospan Limited

Kronospan is a world leading manufacturer of wood-based panels and value add products for the interior design, furniture and construction industries.

EGGER Group

The family company, founded in 1961, employs around 10,400 people. At 20 plants across the world, they produce an extensive product range of wood-based materials (chipboards, OSB and MDF boards) as well as timber.

Segmentation Overview:

By type, Raw MDF Board segment accounted for the largest share of market in 2021.

Raw MDF Board

The raw wood board is composed of a recombined wood board, which is bonded by wood fiber, synthetic resin and additives.

Laminated MDF Board

Laminated MDF Board increases the resistance of the surface to different kinds of damage through impregnation technology (pretreatment of paper) and is made of wood fibers bonded together at high temperature and high pressure. These boards are easy to keep clean and in good condition. They are suitable for cutting and can be handled well by mechanical means.

Application Overview:

The market's largest segment by application is the segment Residential, with a market share of 44.27% in 2021.

Key Companies in the global MDF market covered in Chapter 3:

Eucatex
Swiss Krono Group
West Fraser Timber Co. Ltd.
Dare Wood Based Panel Group Co.Ltd
Duratex
Green Panel Products
Century Plyboards
Korosten
Guangzhou Huafangzhou Wood Co., Ltd.
EGGER Group
Roseburg
Arauco
Nelson Pine
Kastamonu Entegre
Fantoni
Kronospan Limited
YongLin Group Joint Stock Co.Ltd
Finsa
VRG DongwhaMDF, Vietnam
Panel Plus Thailand
Vanachai Group Public Company Limited, Thailand
Metro MDF
MASISA
Grupo Isdra

In Chapter 4 and Chapter 14.2, on the basis of types, the MDF market from 2018 to 2029 is primarily split into:

Raw MDF Board
Laminated MDF Board

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the MDF market from 2018 to 2029 covers:

Residential
Commercial
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)