Medium Density Fiberboards Market

• Growing use in the furniture industry to boost the market growth

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.

Figure 1 Furniture industry countrywide contributionSource: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

However, 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

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 Global Medium Density Fiberboard Market Industry experiences a notable surge in demand driven by the furniture sector. As consumers increasingly favor aesthetically pleasing and durable furniture, MDF's versatility and cost-effectiveness position it as a preferred material. In 2024, the market value is projected to reach 60.1 USD Billion, reflecting the industry's robust growth. The furniture industry, which heavily utilizes MDF for cabinets, tables, and chairs, is expected to continue expanding, thereby bolstering the MDF market. This trend suggests a sustained increase in production and innovation within the sector.

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.

Figure 3:  MEDIUM DENSITY FIBERBOARD MARKET SHARE BY REGION 2023 (%)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

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