Global Medium Density Fiberboard (Mdf) Market Forecast 2019-2028KEY FINDINGS
The global medium density fiberboard (MDF) market is estimated to project a CAGR of 3.72% during the forecast period, 2019-2028. The growing demand for MDF in furniture, rising importance for the production of specialty MDF in Europe, and the easy availability of raw materials, are set to contribute to the growth of the market.
Medium density fiberboard is produced under heat and pressure, and has a fiber moisture content of less than 20%. It is a reconstituted wood-based panel product. Its composition and making, makes it imperative to look out for raw materials, which are available in abundance. The essential raw materials that go into making MDF include mixed tropical species, radiate pine, bagasse, cotton stalks, and rubberwood. The Asia Pacific has almost 45% of plantation forests of the global plantation forest area. The majority of the world’s plantation forests are concentrated in a small group of countries like the United States, Japan, India, the Russian Federation, and China. These countries together constitute more than 10 million hectares of plantation forests. Such volume would suffice to meet the demand for wood in several industries. Therefore, the ease in the availability of raw materials for manufacturing medium density fiberboard is one of the major drivers of market growth. However, stringent government regulations are set to hamper the growth of the market.
The global medium density fiberboard (MDF) market, with regard to geography, is evaluated through the regions of Asia Pacific, North America, Europe, along with the rest of the world. The Asia Pacific is set to be the prominent region, both in terms of market share and growth rate, by the end of the forecast period. The growing need for social infrastructure in most countries of the region, is set to be beneficial for the overall growth of the region.
The competitive rivalry is on the rise, since small and large regional payers constitute the market. Arauco, Daiken Corporation, Egger Group, Dare Panel Group Co Ltd, Duratex SA, etc. are among the eminent players of the market.
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