Rise in global population, increasing urbanization, and surge in tourism across the world have significantly increased the demand for residential and non-residential buildings, which in turn has fueled the use of medium density fiberboard (MDF), as it is majorly used in flooring, door and windows, and in interior designing of buildings. These factors drive the growth of the global MDF market.
PORTLAND, Ore., Dec. 2, 2022 — Allied Market Research published a report, titled, “Medium Density Fiberboard (MDF) Market by Product type (Standard MDF, Moisture_Resistant MDF, Fire-Resistant MDF), by Application (Cabinet, Flooring, Furniture, Molding, Door, and Millwork, Packaging System, Others), by End-User (Residential, Commercial, Institutional): Global Opportunity Analysis and Industry Forecast, 2021- 2031.” According to the report, the global MDF industry was estimated at $53.9 billion in 2021, and is anticipated to hit $96.5 billion by 2031, registering a CAGR of 6.0% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chains, competitive scenarios, and regional landscapes.
Download Free Sample Report (283 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/16206
Determinants of growth-
Rise in global population, increasing urbanization, and surge in tourism across the world have significantly increased the demand for residential and non-residential buildings, which in turn has fueled the use of medium density fiberboard (MDF), as it is majorly used in flooring, door and windows, and in interior designing of buildings. These factors drive the growth of the global MDF market. Moreover, rising standards of living and increasing expenditure on home remodeling projects, especially in high income countries have supplemented the market growth even more.
Covid-19 scenario-
- The lockdown measures across the world and significant delay in the production and manufacturing of MDF products which are utilized in commercial and residential spaces impacted the global MDF market negatively, especially during the initial period.
- However, the market has now got back on track.
The standard MDF segment to rule the roost-
By product type, the standard MDF segment aaccounted for the highest share in 2021, contributing to nearly four-fifths of the global MDF market revenue. This is because standard MDF is vastly available in the market, as it is used in many kinds of application such as furniture, cabinets, doors and windows, and others. In addition, it is relatively inexpensive, and better than the plywood when it comes to cracking and bending; thereby, making it a superior to the ordinary hardwood. The fire-resistant MDF segment, simultaneously, would cite the fastest CAGR of 7.8% during the forecast period. This is attributed to the fact that typically building regulation codes in many countries, requires several places and spaces such as stairwell, emergency assembly area in a building, generator rooms, and other egresses to be fire resistant.
Buy This Research Report @ https://bit.ly/3B3A7b8
The furniture segment to maintain the highest share-
By application, the furniture segment held more than half of the global MDF market share in 2021, and is expected to dominate by 2031. MDF is a popular choice of material to build furniture owing to its elegance, customizability, easy workability, and relative inexpensiveness as compared to solid wood. The cabinet segment, however, would portray the fastest CAGR of 9.3% by 2031. This is due to the fact that cabinets are widely used in kitchens, washrooms, bedrooms, and offices for storing items such as medicines, toiletries, utensils, stationary, and other similar daily use items. In addition, it is also used in retail stores and showrooms to show off items that are to be sold.
The residential segment garnered the major share in 2021-
By end-user, the residential segment garnered more than two-fifths of the global MDF market share in 2021, and is projected to maintain the lion’s share by 2031. The commercial segment, on the other hand, would showcase the fastest CAGR of 7.0% from 2022 to 2031, due to rise in the number of commercial buildings across the world. For instance, according to the UN, as of 2018, around 55% of the world population lived in the cities and around 68% of the total world population, is estimated to live in urban areas by 2050.
Asia-Pacific grabbed the lion’s share-
By region, the Asia-Pacific region garnered the major share in 2021, accounting for nearly three-fourths of the global MDF market revenue. The same region is also expected to portray the fastest CAGR of 6.5% during the forecast period. This is attributed to the large population and the growing disposable income of people across the region.
Purchase Inquiry:
https://www.alliedmarketresearch.com/purchase-enquiry/16206
Key players in the industry-
- Century Plyboards (India) Limited (Century Prowud)
- Dare Panel Group Co., Ltd.
- West Fraser Timber Co. Ltd.
- Arauco and Constitution Pulp Inc.
- Egger Holzwerkstoffe GmbH
- Greenpanel Industries Limited
- Kastamonu Entegre
- Korosten MDF manufacture
- Kronospan Limited
- Uniboard Canada Inc.
Trending Reports in Medium Density Fiberboard Industry (Book Now with 10% Discount):
Global industrial flooring market is projected to reach $13.5 billion by 2031
Global flooring market is projected to reach $558.2 billion by 2031
Global doors market is projected to reach $206.6 billion by 2031
Cork Flooring Market is projected to reach $110.8 million by 2031
Sectional Doors Market: Global Opportunity Analysis and Industry Forecast, 2022-2029
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/construction-and-manufacturing
Follow Us on Blog: https://www.marketinshort.com
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
SOURCE Allied Market Research
