Medium Density Fiberboard Market Size, Industry Growth Forecast 2022-2028

According to Precision Business Insights (PBI), the latest report, the market value of the medium-density fiberboard market size is expected to be valued at USD 64.3 billion in 2022 and is expected to grow at a CAGR of 6.9% in 2022-2028. The primary factor that drives the market is the increasing use of MDF in furniture and construction.

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Furniture to Dominate the Medium Density Fiberboard Market:
Based on application type, furniture holds the highest market share. The major factor for the rise of this segment is the advantages of MDF in the furniture industry as compared to other materials such as wood. Aspects such as widespread use in the manufacture of commercial and residential furniture and ready-to-assemble (RTA) products can drive the global medium-density fiberboard market growth. Apart from this, MDF is extensively used in producing furniture pieces for homes, workplaces, and hotels, which enhances the aesthetic appeal and can also drive the growth of the market.

Asia Pacific Medium Density Fiberboard Market:
The Asia Pacific leads the global medium-density fiberboard market growth due to growing construction spending in the developing markets so as to meet the increasing demand for residential housing. The Asia Pacific leads the global market due to the fast expansion of domestic production capacity, increasing funding from public and private sectors, and rising collaborations among global key players have contributed to increasing the sales of medium-density fiberboard in this region. Apart from this, the major factor that drives the market in this region is rising product acceptance as an operative substitute to plywood along with the development of the furniture-producing industry.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global medium-density fiberboard market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In February 2021, Norbord Inc. was acquired by West Fraser Timber Co. Ltd.

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The medium-density fiberboards market is segmented based on product type, basis type, application, end users, and region.
Based on the product type, the market is segmented into the following:
• Standard
• Fire Resistant
• Moisture Resistant

Based on the basis type, the market is segmented into the following:
• E0
• E1
• E2

Based on the application type, the market is segmented into the following:
• Furniture
• Interior Decoration
• Construction
• Others

Based on the end users, the market is segmented into the following:
• Residential
• Commercial

Based on the region, the market is segmented into the following:
• Asia Pacific
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key players' profiles in the medium density fiberboard market report are Arauco, Norbord Inc., DAIKEN CORPORATION, Kronospan, Dare Panel Group Co. Ltd, Korosten MDF manufacturers, Duratex SA, Kastamonu Entegre, and Fantoni Spa.

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