MEDIUM DENSITY FIBREBOARD MARKET ANALYSIS

Medium Density Fibreboard MarketSize and Trends

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.

Market Trends/Key Takeaways:

• Consumer spending on décor products: Increasing consumer spending on home décor products for storage utilities, and others are emerging as a major trend in the market. This is attributed to the increasing disposable income of consumers across developing regions like Central Africa and China. For instance, according to the U.S. Bureau of Economic Analysis, in 2022, personal consumption expenditures of furniture and furnishings were US $344.79 billion in the U.S.
• Increase in demand for wood kitchen cabinet and countertop: Growing popularity of wood kitchen cabinet and countertop across developed regions is projected to propel the market growth. For instance, according to the Coherent Market Insights’ analysis, in the U.S, the wood kitchen cabinet and countertop manufacturing market is expected to be US$ 13.17 billion by 2023.