New York, NY -- (SBWIRE) -- 12/21/2020 -- Medium density fiberboard (MDF) is extremely lightweight, offering excellent ratio of strength-to-weight. With several outstanding properties, such as moisture, high-temperature, and fire resistance, MDF has been a primary choice in terms of providing materials in the industries such as building and furniture. Due to its amazing resistance against heat and humidity, MDF is preferred largely in many industries over solid wood. The medium density fiberboard market is projected to rise from 61.32 billion USD in 2019 to USD 97.94 billion by 2027, with a CAGR of 6.4%, as predicted by Reports and Data's new report.
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Market Drivers
Owing to widespread applications in furniture, interior decoration, and building materials, MDF has become an optimal choice for many end-user industries, which is propelling many companies to increase production. This factor is contributing to the steadfast growth of the market. Rapid construction of offices to achieve a foothold in the highly competitive market is escalating demand for modern materials required in interior designing, thereby maintaining the market dynamic. Furthermore, easy availability of MDF's raw materials, growing adoption of MDF in different corporate sectors, and rapid developments in technology are some of the factors foreseen to have a significant influence on the market growth.
The leading companies operating across the global Medium Density Fiberboard market are listed below:
Dongwha Malaysia Holdings Sdn. Bhd., Kronospan Limited, Dare Panel Group Co., Ltd, EGGER Group, Norbord Inc., Georgia-Pacific, Kastamonu Entegre, ARAUCO, West Fraser Timber Co. Ltd, and Nag Hamady Fiber Board Co., among others.
For the purpose of this report, Reports and Data have segmented into the medium density fiberboard market on the basis of product, type, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Standard MDF
Moisture Resistant MDF
Fire Resistant MDF
Type Outlook (Revenue, USD Billion; 2017-2027)
E0 MDF
E1 MDF
E2 MDF
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Application Outlook (Revenue, USD Billion; 2017-2027)
Furniture
Construction
Interior Decoration
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
MEA
Latin America
Regional Analysis
Asia Pacific dominated the MDF industry, with the highest revenue share of 61.4% in 2019. Rising expenditure in construction due to the fast development of residential buildings and corporate offices in emerging countries is the primary factor attributing to this regional market growth. Other factors like rapid growth in the furniture manufacturing industry, coupled with expanding domestic manufacturing and fast adoption of MDF as a substitute for plywood, are pushing the Asia Pacific market further. Due to increasing residential renovation and modernization in construction, the European MDF market has been rising steadily, accounting for the second-largest market share of 14.8% in 2019.
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Table of contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Medium Density Fiberboard Market Segmentation & Impact Analysis
Chapter 5. Medium Density Fiberboard Market By Product Insights & Trends
Chapter 6. Medium Density Fiberboard Market By Type Insights & Trends
Chapter 7. Medium Density Fiberboard Market by Application Insights & Trends
Chapter 8. Medium Density Fiberboard Market Regional Outlook
Continued…
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