Global medium density Fiberboard market was valued at US$ 41.8 Bn in 2023, and is expected to exhibit a CAGR of 5.6%, over the forecast period (2023-2030) to reach US$ 61.1 Bn by 2030. Medium density fiberboard (MEDIUM DENSITY FIBERBOARD) is commercially known as medium density fiberboard panels or medium density fiberboard products. MEDIUM DENSITY FIBERBOARD is an engineered wood. It is made by compressing uniformly sized wood particles at high temperature. The particulates are then bound together by resin and wax. It is used in all applications related to plywood, including plywood flooring, plywood furniture, plywood cabinets, plywood speaker boxes, plywood temporary construction, and other applications.
Global Medium Density Fiberboard Market - Impact of Coronavirus (COVID-19) Pandemic
Due to lockdown, the production of MEDIUM DENSITY FIBERBOARD came to a standstill during the pandemic. Initially, the economic slowdown led to a decrease in the spending of residential and commercial users on various applications of MEDIUM DENSITY FIBERBOARD. However, with the introduction of different vaccines, the pandemic has significantly decreased in severity. By mid-2022, the number of cases has significantly decreased. This has allowed MEDIUM DENSITY FIBERBOARD manufacturing companies to resume production at full capacity. Moreover, it has been over two years since the start of the pandemic and many companies have started to show signs of recovery. The Medium Density Fiberboard market is expected to be positively impacted by rising living standards and increasing spending on home remodeling, particularly in high income countries.
Global Medium Density Fiberboard Market: Drivers
Global Medium Density Fiberboard Market: Restraints
Market Opportunities:
Growing prominence of production of speciality MEDIUM DENSITY FIBERBOARD in Europe is expected to serve major growth opportunities over the forecast period. For instance, according to the European Panel Federation’s (EPF), the MEDIUM DENSITY FIBERBOARD manufacturing plants in Europe, are majorly located in Russia, Turkey, Ukraine, and Belarus. All European MEDIUM DENSITY FIBERBOARD manufacturers produced standard grade, while many MEDIUM DENSITY FIBERBOARD mills fabricated various grades of special products. Around 75% of the mills also produce moisture-resistant MEDIUM DENSITY FIBERBOARD, and 65% produce melamine-faced MEDIUM DENSITY FIBERBOARD.
Increasing application of MEDIUM DENSITY FIBERBOARD in decorative articles is again anticipated to shape the market growth positively in the near future. It is widely used in making various bases such as nameplates, cutlery holders, key holders, tissue boxes, chocolate boxes, trays, wall shelves, jewellery boxes, furniture, shadow boxes, wall accents, and embellishments frames. In addition, it is also used in the production of various shapes of cut-outs alphabet, monogram cut-outs, and others
Market Trends/Key Takeaways:
Medium Density Fiberboard Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 41.8 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 5.6% | 2030 Value Projection: | US$ 61.1 Bn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
ARAUCO, Daiken Corporation, Duratex SA (DEXCO), EGGER Group, Eucatex SpA, Masisa SA (Grupo Nueva Company), Fantoni SpA, Kastamonu Entegre, Korosten MEDIUM DENSITY FIBERBOARD manufacture, Kronoplus Limited, Nelson Pine Industries Limited, Roseburg, Sonae Indústria, SWISS KRONO, West Fraser, and Weyerheause Company |
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Growth Drivers: |
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Restraints & Challenges: |
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Global Medium Density Fiberboard Market: Market Segmentation
On the basis of end user, the global medium density Fiberboard is divided into residential, institutional, and commercial. The residential segment has been dominating the market by carrying the market share value of 70% in 2022, followed by institutional and commercial. As the population increases and cities become more developed, the number of buildings increases. Also, as the population continues to grow and the disposable income of the majority of the population in developing countries such as India and Brazil increases, the demand for MEDIUM DENSITY FIBERBOARD panels increases for furniture, floor, and home interiors applications.
Figure 1: Global Medium Density Fiberboard (MDF) Market Value Share (%), By End User, 2022
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Global Medium Density Fiberboard Market: Regional Analysis
The global medium density Fiberboard market was valued at US$ 41.8 Bn in 2022 and is forecast to reach a value of US$ 61.1 Bn by 2030, growing at a CAGR of 5.6% between 2023 and 2030. Asia Pacific held a dominant position in the global medium density Fiberboard market in 2022, accounting for 60.6% share in terms of volume, followed by North America and Europe. This is attributed to an increase in building construction activities and increasing demand for furniture.
Figure 2: Global Medium Density Fibreboard (MDF) Market Value Share (%), By Region, 2022
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Global Medium Density Fiberboard Market: Recent Developments
Global Medium Density Fiberboard Market: Key Companies
Key players active in the global medium density Fiberboard market are ARAUCO, Daiken Corporation, Duratex SA (DEXCO), EGGER Group, Eucatex SpA, Masisa SA (Grupo Nueva Company), Fantoni SpA, Kastamonu Entegre, Korosten MEDIUM DENSITY FIBERBOARD manufacture, Kronoplus Limited, Nelson Pine Industries Limited, Roseburg, Sonae Indústria, SWISS KRONO, West Fraser, and Weyerheause Company
*Definition: MEDIUM DENSITY FIBERBOARD is made from a special type of wood, and many companies use it to make their furniture. Low-density Fiberboard is a popular choice for prefabricated furniture and big-box stores. MEDIUM DENSITY FIBERBOARD is similar to particleboard, but they have some major differences in process. They are both used to make furniture and cabinets. The process used to make both products differ slightly, and the difference can be found in the way fiber is prepared and dried. They differ primarily in their pressing and post pressing operations. The fiber that goes into MEDIUM DENSITY FIBERBOARD is derived from shavings or chips, and it consists of individual wood cells.
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About Author
Yash Doshi
Yash Doshi is a Senior Management Consultant. He has 12+ years of experience in conducting research and handling consulting projects across verticals in APAC, EMEA, and the Americas.
He brings strong acumen in helping chemical companies navigate complex challenges and identify growth opportunities. He has deep expertise across the chemicals value chain, including commodity, specialty and fine chemicals, plastics and polymers, and petrochemicals. Yash is a sought-after speaker at industry conferences and contributes to various publications on topics related commodity, specialty and fine chemicals, plastics and polymers, and petrochemicals.
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