There are several advantages to using Medium Density Fibreboard for building projects. This type of wood composite has superior durability, and is highly flexible. It can be easily manufactured by a combination of automated processes and traditional methods. A wide range of finishes and types are available. Medium density fibreboard is particularly suitable for interiors and exteriors. Its versatility means that it is a cost-effective option for any project. The density of Medium Density Fiberboard is often changed to make it more durable. Increasing its density from 730 kg/m3 to 675 kg/m3 doesn't significantly change its mechanical properties.
The global medium density fibreboard (MDF) market is estimated to account for US$ 40.0 Billion in terms of value by the end of 2021.
Global Medium Density Fibreboard (MDF) Market: Drivers
Expansion of residential sector is playing significant role in overall development of medium density fibreboard (MDF) market. Growing number of single-family home in North America and Europe is impacting the market growth positively. In the United States, privately-owned residential properties are gaining popularity, as per the report by the US Census Bureau. In 2020, 1,471 new housing units were permitted, and the number grew to 1,729 units in 2021.
Global Medium Density Fibreboard (MDF) Market: Opportunities
The expansion of office infrastructure by companies is creating demand for furniture and interior design materials. This is expected to create significant growth opportunities over the forecast period.
Global Medium Density Fibreboard (MDF) Market: Restraints
Health hazards associated with the exposure to large formaldehyde in large quantities is likely caused cancer among humans. This has attracted several regulations against usage of fibreboard with high formaldehyde content.
Global Medium Density Fibreboard (MDF) Market - Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has negatively impacted the industry as huge workforce of enterprises across the globe is working from home. This has led to decline in production, supply, and distribution which, in turn, reduced the demand for medium density fibreboard (MDF).
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The global medium density fibreboard (MDF) market was valued at US$ 40.0 Billion in 2021 and is forecast to reach a value of US$ 60.2 Billion by 2030 at a CAGR of 4.6% between 2022 and 2030.
Residential end user segment held dominant position in the global Medium Density Fibreboard (MDF) market in 2020, accounting for 70.0% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Medium Density Fibreboard (MDF) Market: Trends
Increasing investment in green building construction is expected to be a major trend in the market. According to International Finance Corporation (IFC), there is an USD 40 billion investment in green construction through 2025 in the country, with a potential for 450,000 green residential units.
Rapid urbanization and industrialization are other key trends observed in the market. This will further favour the market growth.
Global Medium Density Fibreboard (MDF) Market: Competitive Landscape
ARAUCO, Daiken Corporation, Duratex SA (DEXCO), EGGER Group, Eucatex SpA, Masisa SA (Grupo Nueva Company), Fantoni SpA, Kastamonu Entegre, Korosten MDF manufacture, Kronoplus Limited, Nelson Pine Industries Limited, Roseburg, Sonae Indústria, SWISS KRONO, West Fraser, and Weyerheause Company
Global Medium Density Fibreboard (MDF) Market: Recent Developments