Melamine Faced Chipboard (MFC) Market Was Valued at USD 4,784.1 million in 2021 Owing to Increased Construction Activities

According to Precision Business Insights (PBI) latest report, the global melamine-faced chipboard (MFC) market is valued at USD 4,784.1 million in 2021. The global melamine faced chipboard (MFC) market is segmented into the following types: By Thickness (Below 18 mm, 18 mm to 25 mm, and above 25 mm), By Application (Residential, Commercial, and Others), and Geography (North America, Europe, Asia-Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the melamine-faced chipboard (MFC) market report are Pfleiderer, Finsa, Unilin, Kronoplus Limited, EGGER Group, Max World Marketing Sdn, HeveaBoard Berhad, Premier Forest Products, and Starwood Capital Group. The increasing demand and requirement for green and sustainable buildings and the introduction of emission regulations related to the chemicals used for processing or manufacturing wood or wood composites for construction applications will result in significant changes in the composition and technology of these resins. This will subsequently drive the market for melamine as decorative laminates are used to make cabinets in modular kitchens because of their durability and aesthetics. The growing popularity of modular kitchens is one of the significant trends that will gain traction in the global melamine-faced chipboard (MFC) market.

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Residential Segment Dominates the Melamine Faced Chipboard (MFC) Market
Based on application, the residential segment accounted for a larger revenue share and is projected to grow with a CAGR of 7.3% from 2022 to 2028 to reach USD 4,960.8 Mn by 2028. The market is growing in this segment due to increasing construction activities, and increased demand for melamine-faced chipboard in kitchen frames and furniture. The characteristics of melamine like durability, affordability, and practicality are also driving the need for the melamine-faced chipboard.

Asia-Pacific Leads Melamine Faced Chipboard (MFC) Market
In 2021, the Melamine Faced Chipboard (MFC) market in Asia-Pacific had the largest market share of 38.2 percent. The market is expanding in Asia-Pacific because of the rapidly rising population and large-scale urbanization initiatives. The high market size, combined with Asia-rapid Pacific's growth, is critical to the market's expansion. Furthermore, due to a saturated market and stable sectors, Latin America is likely to offer profitable chances for melamine-faced chipboard (MFC) soon.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
Global Melamine Faced Chipboard (MFC) Market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In April 2022, Premier Forest Products has further expanded with the acquisition of Monmouthshire Timber Supplies. Mon Timber, a supplier of timber products, joinery, and roof trusses, operates from three sites in South Wales. The acquisition of Mon Timber further extends Premier Forest's product portfolio and service capabilities. The value of the deal has not been disclosed.

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The melamine-faced chipboard (MFC) market detailed segmentation:
Based on the Thickness, the market is segmented into the following:
• Below 18 mm
• 18 mm to 25 mm
• Above 25 mm

Based on the Application, the market is segmented into the following:
• Residential
• Commercial
• Others

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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