Medium Density Fiberboard Market Size was valued at USD 57689.40 million in 2023. The Medium Density Fiberboard industry is projected to grow from USD 60089.3 Million in 2024 to USD 87970.23 million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.88% during the forecast period (2024 - 2032). The expanding product use in building and furniture applications is the key market driver fueling the market.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The demand for wood products like plywood, medium density fiberboard, and particle boards has increased due to the support from numerous governments worldwide to improve the building industry's sustainability. For instance, the Ministry of Agriculture, Forestry, and Fishery (MAFF) of Japan recently established a law to encourage the use of wood in public building construction. The market for these wood-based products is anticipated to increase due to such initiatives shortly. Due to its usage as a sustainable material, the use of this type of medium-density fiberboard is increasing. Given that it is created from wood waste, it has become a popular material among buyers who support the green building movement. The US Census Bureau estimates that sales of furniture and home furnishings in the United States in November 2021 will amount to about USD 13.31 billion, up from USD 12.44 billion in sales the previous month.
According to the market dynamics, the demand for housing and public infrastructure has been boosted by the growing populations in nations like India, China, Brazil, and the U.S.; this is anticipated to be advantageous for the medium density fiberboard industry shortly. People's increased purchasing power will increase demand for goods that enhance the aesthetics of living places. The demand for wood flooring has increased due to the growing emphasis on building smart homes and aesthetically pleasing interiors.
As per market research, medium density fiberboard and plywood have both been widely used in the production of furniture such as tables, sofas, beds, and library shelves since they both have similar qualities. Compared to plywood, medium density fiberboard is substantially less expensive and has a smoother surface. These characteristics make this fiberboard a great substitute for plywood in applications where moisture and impact resistance are not the main requirements. Therefore, such factors have enhanced the medium-density fiberboard market CAGR ly in recent years.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst ReviewHowever, the creation of medium-density fiberboard with higher durability and a longer lifespan is the result of technological advancements, and improvements in the production process are another factor driving the growth of the Medium Density Fiberboard market revenue.
June 2023
Roseburg Forest Products has secured a sizeable $3 million grant to build robotic equipment at its medium-density fiberboard (MDF) plant, giving Canada's forest industry a considerable boost. The Investments in Forest Industry Transformation (IFIT) program provided the funds, which was announced by Member of Parliament Anita Vandenbeld on behalf of Minister of Natural Resources Jonathan Wilkinson.
Through the use of cutting-edge technology and the promotion of low-carbon initiatives, the $1.5 million investment from IFIT intends to improve Roseburg Forest Products Canada's MDF plant and boost competitiveness in the forest industry. The company has received $1.5 million from Ontario's Forest Sector Investment and Innovation Programme in addition to the contribution from IFIT, demonstrating the commitment of the government to advancing sustainable initiatives in the forestry sector.
Production capacity at the MDF factory is anticipated to be significantly impacted by the incorporation of robotic technologies. Two MDF moulding lines will be installed and put into service as part of the project, together with sophisticated robotic stacking, packaging, and labelling stations. In addition to increasing productivity and safety, these technological developments will also open up specialised job opportunities, including positions as robot operators for 18 people.
The market segmentation, based on product, includes standard MDF, moisture resistant MDF, and fire resistant MDF. According to market statistics, the standard medium-density fiberboard segment held the majority share in 2021, contributing to around ~40% of the medium density fiberboard market revenue. The category is expected to be primarily driven by expanding product applications in the furniture manufacturing industry and the construction industry.
According to the market outlook, the market is segmented into cabinet, flooring, furniture, molding, door and millwork, packaging system, and others based on application. The furniture segment dominated the market in 2021. According to the market forecast, this segment is projected to be the faster-growing segment during 2022-2030. This surge in demand was primarily caused by elements like the replacement of wood with medium-density fiberboard panels and extensive use in creating ready-to-assemble (RTA) items for home and commercial furniture. Hence, rising applications in furniture implants for Medium Density Fiberboard positively impact the market growth.
End users have bifurcated the market data into residential, commercial, and institutional. The residential segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030, due to an increase in buildings resulting from urbanization and population growth. The demand for medium density fiberboard panels for furniture, flooring and home interiors is increasing due to the gradual increase in population and disposable income of the majority population in several emerging nations, like India and Brazil.
The commercial was the fastest-growing segment due to rising economies' quick industrialization. The product is used in industrial settings for millwork, molding, and edge shaping.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific medium density fiberboard market accounted for USD 22298.94 million in 2021 and is expected to exhibit a significant CAGR during the study period. The demand for medium density fiberboard in the region is rising due to the expanding construction activities in China, India, and Japan. According to the market report, nearly 40% of the worldwide share was accounted for by China. Medium-density fiberboard (MDF) consumption has increased quickly in China, largely due to the abundance of advancements in the residential and commercial construction industries, which are supported by the country's expanding economy. According to the Ministry of Industry and Information Technology, prominent Chinese furniture-making companies made total profits of CNY 10.06 billion (USD 1.5 billion) between January and April 2022, an increase of 2.9 percent from the same time the previous year. Moreover, China medium density fiberboard market held the largest market share, and the India medium density fiberboard market was the fastest-growing market in the Asia-Pacific region
Furthermore, the major countries studied in the market report are The U.S. Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe medium density fiberboard market accounts for the second-largest share because of the increasing renovation work being done by the consumers. Further, the German medium density fiberboard market held the largest share, and the UK medium density fiberboard market was the fastest-growing market in the European region
The North America medium density fiberboard market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to people investing more money into creating mesmerizing visual effects in the interiors of their homes and workplaces. Moreover, the US medium density fiberboard market held the largest share, and the Canada medium density fiberboard market was the fastest-growing market in the North American region
Market players are spending a lot of money on R&D to increase their product lines, which will help the medium density fiberboard industry grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key medium density fiberboard market developments such as new product launches, mergers, contractual agreements, acquisitions, increased investments, and collaboration with other organizations. According to the market competitive landscape, the players must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment for medium density fiberboard.
One of the primary business strategies manufacturers adopt in the medium density fiberboard industry to benefit clients and expand the medium density fiberboard industry is to manufacture locally to reduce operating costs. The market major players such as Kronoplus Limited, Arauco, Centruyply, and others are working on expanding the medium density fiberboard market demand by investing in R&D activities.
Kronoplus Limited is a company that manufactures veneer, plywood, and engineered wood products. It is based in WREXHAM, United Kingdom. In June 2022, with an estimated annual production of 720,000 m3 across 25 hectares, Kronoplus invested EUR 400 million (USD 473.26 million) in constructing a new wood-based panel manufacturing facility in Tortosa. The company's sales in the medium-density fiberboard (MDF) industry will increase.
Also, Empresas Copec, a business unit of Anacleto Angelini's economic conglomerate, controls the Chilean wood pulp, engineered wood, and forestry firm Celulosa Arauco y Constitución. In December 2020, Arauco bought the majority of Odd Industries, a maker of industrial artificial intelligence (IAI) that is motivated by ethics. To accomplish its goal of reducing and reversing climate change, the firm intends to deploy artificial intelligence.
May 2023
The first Greenply MDF dispatch has been signaled off by Greenply Industries. The business has used PRODIQ-NEO technology, the first of its type in India, which is equipped with measuring tools and artificial intelligence software to ensure the high quality, accuracy, and durability of its products.
To ensure that the plywoods fulfill the worldwide emission requirements established by CARB & EPA and maintain safe indoor air quality for the occupants and the interior designers, Greenply introduced zero emission (E-0) products as the first company in India. Product innovation has always been aggressively promoted by the corporation.
Medium-density fiberboards (MDF), plywood, block board, decorative laminates, ornamental veneers, laminate flooring, and lavatory cubicles are just a few of the interior infrastructure goods that Greenply manufactures. With more than 13,000 distributors, dealers, sub-dealers, and retailers, it has a presence in more than 300 cities and 45 branches across all of India.
January 2022 For its Evogloss range of medium density fiberboard boards, Kastamonu, the leading manufacturer in Russia's wood processing industry, has launched new decors. Any living space, including the kitchen, bedroom, bathroom, dressing room, and other common areas, requires Evogloss panels for wall decoration.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 57689.40 million |
| Market Size 2024 | USD 60089.30 million |
| Market Size 2032 | USD 87970.23 million |
| Compound Annual Growth Rate (CAGR) | 4.88% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, End User and Region, |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Arauco, Norbord Inc., DAIKIN CORPORATION, Kronospan, Dare Panel Group Co. Ltd, Korosten MDF manufacturers, Duratex SA |
| Key Market Opportunities | Growing industrialization |
| Key Market Dynamics | Rising use of furniture |
Medium Density Fiberboards Market Highlights:
Frequently Asked Questions (FAQ) :
The market size was valued at USD 57689.40 Million in 2023.
The market for medium density fiberboard is projected to register a CAGR of 4.88% during the forecast period, 2024-2032.
Asia-Pacific had the largest share of the medium density fiberboard market.
The key players in the market for medium density fiberboard are Arauco, Norbord Inc., Daikin Corporation, Kronospan, Dare Panel Group Co. Ltd,
The standard medium density fiberboard category dominated the medium density fiberboard market in 2023.
The furniture had the largest share in the medium density fiberboard market.
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.
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