The new report by Expert Market Research titled, ‘Global Medium-Density Fibreboard (MDF) Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global medium-density fibreboard (MDF) market, assessing the market based on its segments like sectors, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): USD 24 billion
• Forecast CAGR (2020-2025): 8.64%
• Forecast Market Size (2025): USD 40 billion
The medium-density fibreboard (MDF) market is expected to be driven by the steady growth of the construction industry, especially in the Asia Pacific region, where emerging countries like China and India are seeing a substantial rate of increase in construction activities. Another factor driving the construction sector is the increase in the construction of single-family houses. As MDF is cheaper and smoother than other wood products while retaining strength and structural properties, the shift from hardwood and softwood products to MDF is expected to continue. Its improved customisation abilities over traditional wood materials have led it to be driven by a wide variety of products within the industry.
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Industry Definition and Major Segments
Medium-density fibreboard (MDF) refers to an engineered wood product, which is manufactured by the breaking down of hardwood and softwood residues. The wood fibres obtained are then merged together via wax and resin to form a composite wood substance. This can be made into panels under high pressure at a high temperature. The product is more consistent in shape and size than regular woods and, thus, can be easily shaped and veneered.
The sectors of the global medium-density fibreboard market are:
• New Construction
• Replacement
The major application sectors of medium-density fibreboard include:
• Residential
• Commercial
The major regions of the market are:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
As medium-density fibreboard (MDF) is mostly manufactured via renewable and sustainably-sourced wood, it is becoming increasingly popular as an eco-friendly option in construction activities. Its customisation abilities allow it to be used in an efficient manner, minimising wastage of materials. The growth of the green building segment is driving the use of MDF in construction activities.
Daiken Corporation (TSE: 7905) launched a new product line of MDF in 2015 called TEKWOOD-A, made using wood from the acacia tree. In 2018, Daiken acquired Dongwha, a manufacturer and supplier of MDF in New Zealand, and established DAIKEN SOUTHLAND LIMITED to increase its presence in the region. This reflects the growing market demand in New Zealand and Australia. The increased R&D activities by Daiken in this segment are also expected to boost the industry growth.
Key Market Players
The major players in the market are DAIKEN CORPORATION (TYO: 7905), Dongwha Group (KOSDAQ: 025900), Arauco, Kronoplus Limited, and Duratex (BVMF: DTEX3), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviors. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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