The demand for home décor and stylized furnishings have gained tremendous importance in recent years. But the use of woods has taken a backseat due to its unavailability, high price, and growing awareness about conversing forests. In light of this scenario, the medium density fibreboard become the perfect replacement for making furniture. Medium density fiberboard or MDF is extensively used for making doors, window panels, and other types of furniture. This has had a positive influence on the global medium density fiberboard market.
The global medium density fiberboard panels market was worth US$18700 mn in 2018 and the report suggests that it will reach US$24000 mn by 2025, registering a robust CAGR of 3.6% during the forecast period of 2018 to 2025. QY Research discusses the future of the market in its latest report, titled “Global Medium Density Fiberboard (MDF) Panels Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application.”
Global Medium Density Fiberboard Panels Market: Drivers
The increasing usage of recycled wood fibers is expected propel the medium density fiberboard panels market in the near future. Medium density fiberboard is lighter, budget-friendly, and stylish for creating tasteful home décor. Decorative furniture for home, office, or other public places has created a massive demand for MDFs. Growing construction industry is expected to make a significant contribution to the growing market as well. Upcoming restaurants and increasing disposable incomes to spend on furniture and restoration is also projected to give the global MDF market many lucrative opportunities.
Global Medium Density Fiberboard Panels Market: Segment Analysis
The global MDF panels market is segmented by type and application. In terms of type, the market is segmented into fire retardant grade, standard grade, moisture resistant grade, and others. In terms of applications, the market is segmented into construction, furniture, and others.
Global Medium Density Fiberboard Panels Market: Regional Analysis
On the basis of region, the global medium density fiberboard panels market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific is the leading region in the global medium density fiberboard panels market. The increasing demand due to rapid urbanization has steady momentum for the market. The Middle East and Africa is also expected to be a promising market during the forecast period.
Global Medium Density Fiberboard Panels Market: The Key Players
The key players studied in the global medium density fiberboard panels market are Evergreen Group, Kronospan, Georgia-Pacific Wood Products, Daiken Group, Mangalam Timber, Metro-Ply Family of Companies, Belarusian Forest Company, Sonae Industria Group, Nelson Pine Industries, West Fraser, Clarion Boards, Rayong Board, Dare Panel Group, Wanhua, and Zhejiang Liren Wood Group.
Krono organized a flooring event in January to attract the customers and designers to network and exchange the knowledge of latest trends and innovative materials in the flooring sector. This kind of initiatives can influence a company to stay updated with the trend and exchange important information about the dynamic market scenario.