Rising Demands in the Furniture Industry Enhances Global Medium Density Fiberboard (MDF) Market Growth
Inkwood Research
evaluates that the Global Medium Density Fiberboard (MDF) Market is predicted
to register a CAGR of 3.72% in terms of revenue during the forecast period,
2019-2028.
“Browse 41 Market Data Tables and 48 Figures spread over 161 Pages,
along with an in-depth TOC on the
Global Medium Density Fiberboard (MDF) Market Forecast 2019-2028.”
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Medium density fiberboard (MDF) is a manufactured wood
product made by breaking down softwood or hardwood residuals into wood fibers.
It is generally dense than plywood, and is made up of separated fibers. Also, it
is denser and stronger than particle board. It constitutes 9% urea-formaldehyde
resin glue, 1% paraffin wax, 82% wood fiber, an 8% water. Its increasing
applications have resulted in the evolvement of several types of MDF.
Increasing
Demands in Furniture Domain propels Market Growth
There is a growing demand for readymade, low maintenance,
and readymade furniture. The homogenous density profile of MDF enables precise
machining and intricate finishing for superior finished products in terms of
readymade furniture. It is also used in the manufacture of cabinets, entry
doors, modular furniture, facade cladding, lobbies, etc. There is also an
increasing demand from residential homes, offices, educational institutes,
libraries, medical institutions, and airports. Due to production costs and
environmental concerns, the application of reforested wood and derivatives of
wood is rising gradually. These replace the native solid wood in furniture
production. The features of MDF, like durability, resistance, low production
costs, and dimensional stability, has resulted in its use in furniture
fabrication. Moreover, as per the World Bank, the organized furniture industry
is propelling at a rate of 20% every year. Such factors are set to raise the
demand for MDF for furniture.
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Moisture
Resistant MDF is the prominent Product
Moisture resistant MDF finds applications in doors, bathroom
fitment, window boards, etc. They are versatile panels with high internal bond
strength, and find extensive use in furniture and construction industries for
interior applications. It is developed to resist humidity and moisture, and has
similar physical characteristics and workability as premium panels. It also
meets the thickness swell and bond integrity criteria needed for designation.
It is further utilized in dishwasher enclosures, laboratories, sink bases,
laundry areas, etc. They differ from standard MDF for the fact that they are
manufactured using moisture-repellent resins.
Asia
Pacific projected to be the Leading & Dominating Region by 2028
Several countries of the Asia Pacific entail huge
expenditure in terms of infrastructure with regard to health, social, and
housing, which will be beneficial for the growth of their respective economies.
This is set to increase the demand for the MDF market. The second most
productive and profitable construction market in Asia is Indonesia. Many
construction projects are taking place in the residential and non-residential
sectors of the country. The country also entails an increasing demand for
residential properties and thriving property sectors in its major countries.
The companies in the global market have an aggressive
approach with regard to making contracts and capacity expansion. The fragmented
market has almost 18% of it being dominated by the top ten manufacturers. Such
factors further result in a higher degree of competition. Some of the renowned
players in the market include, Eucatex SA, Dare Panel Group Co Ltd, Duratex SA, Arauco, Daiken Corporation, etc.
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analysis comprises of North & South America, CEE, CIS, Middle East, Europe,
Asia, and Africa.
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