Global Medium-Density Fibreboard Market Outlook: Size, Share, Growth, Trends And Forecast 2018-2023
united states, 13 July 2018 -- The global medium-density fibreboard (MDF) market has witnessed a healthy growth over the past few years. This can be accredited to the increasing use of medium-density fibreboard in the construction industry as it is a cost-effective and environment-friendly.
Medium-density fibreboard (MDF) is a wood product made by mixing wood fibres with adhesives to form flat panels. It offers superior quality as compared to solid wood or the other compressed manufactured wood products such as plywood. Owing to this, it is used in a wide variety of residential and commercial projects, such as flooring, toys, furniture, ceiling moulding, cabinetry, industrial packaging, etc. A new research report by IMARC Group, titled “Medium-Density Fibreboard Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global medium-density fibreboard market reached a value of more than US$ 22 Billion in 2017, registering a CAGR of 11% during the year 2010-2017. The report further anticipates the market to reach a value of US$ 34 Billion by 2023.
Global Medium-Density Fibreboard Market Drivers/Constraints:
Medium-density fibreboard is manufactured from recycled wood which helps in saving trees and protecting the environment. The increasing environmental concerns among the consumers are fuelling the demand for medium-density fibreboard.
Medium-density fibreboard does not expand or contract due to heat and humidity as opposed to solid wood. As a result, it is extensively used in kitchens and bathrooms in high humid and tropical regions. This, in turn, has bolstered the sales of medium-density fibreboard in these regions.
Due to the growing population, rapid urbanisation, and rising disposable incomes of the consumers, there has been an increase in the number of commercial and residential spaces. This is projected to create a positive impact on the medium-density fibreboard market.
The strict rules and regulations set up by the government regarding the use and manufacturing of medium-density fibreboard restricts the market growth. Moreover, the high-maintenance costs, lower strength compared to solid wood and water soaking issues are some of the other factors restraining the overall growth of the market.
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