Medium Density Fiberboard (MDF) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Medium Density Fiberboard (MDF) Market is segmented by Application (Cabinet, Flooring, Furniture, Molding, Door, and Millwork, Packaging System, and Other Applications), End-user Sector (Residential, Commercial, and Institutional), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for MDF market on the basis of volume (thousand cubic meters) for abovementioned segments..

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Market Snapshot

Medium Density Fiberboard (MDF) Market Size
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >3.5 %
Medium Density Fiberboard (MDF) Market Key Players

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Market Overview

The medium density fiberboard (MDF) market size was estimated at more than 100 million cubic meters in 2021, and the market is projected to register a CAGR of greater than 3.5% during the forecast period (2022-2027).

The market was negatively impacted by COVID-19 in 2020. According to the Associated General Contractors of America (AGC), COVID-19 impact has delayed or disrupted projects in the United States. Around 16% of the projects in the United States is likely to experience a shortage of materials, equipment, or parts, 11% of the projects will see a shortage of craft workers, including subcontractors, 18% of the projects will witness a shortage of government workers, and 8% of the projects will be disrupted by an infected worker, who may have a potential to infect a worksite. 

  • Over the short term, a major factor driving the market studied is the increase in demand for MDF for furniture.
  • The furniture segment dominated the market, and it is expected to expand at the fastest rate during the forecast period, owing to the rapid growth in residential construction activities across the world.
  • Emissions from building and furnishing materials, such as medium density fiberboard (MDF), are potentially important contributors to indoor VOCs. Stringent government regulations are expected to hinder the growth of the market studied.
  • Asia-Pacific dominated the market across the world with the largest consumption, followed by Europe.

Scope of the Report

Medium density fiberboard (MDF) is produced with the help of a wide range of lignocellulosic fibers, including agrofibers, recycled wood, and other low-value wood by-products. Medium-density fiberboard (MDF) or dry-process fiberboards have a fiber moisture content of less than 20% at the stage of forming and a density ≥ 450 kg/m3. These boards are essentially produced under heat and pressure, with the addition of a synthetic adhesive. The market is segmented on the basis of application, end-user sector, and geography. By application, the market is segmented into cabinet, flooring, furniture, molding, door, and millwork, packaging system, and other applications. By end-user sector, the market is segmented into residential, commercial, and institutional. The report also covers the market size and forecasts for the medium density fiberboard (MDF) market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (thousand cubic meters).

Application
Cabinet
Flooring
Furniture
Molding, Door, and Millwork
Packaging System
Other Applications
End-user Sector
Residential
Commercial
Institutional
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increase in the Demand for MDF for Furniture

  • Medium density fiberboard (MDF) is the staple of the mass-manufacturing furniture industry and the preferred choice of ready-made furniture manufacturers. The demand for branded, readymade, and low-maintenance furniture is increasing daily, which is propelling the demand for MDF in furniture applications.
  • Medium density fiberboard (MDF) is a reconstituted wood-based panel product. It is made by breaking down hardwood or softwood residuals into wood fibers, often in a defibrillator, combining it with wax and a resin binder, and forming panels by applying high temperature and pressure.
  • The global furniture market comprises 65% of domestic home furniture, followed by office furniture comprising 15%, and hotels and others include 15% and 5%, respectively.
  • According to the US Census Bureau, in the United States, In November 2021, the furniture and home furnishing store sales were estimated to reach approximately USD 13.31 billion, up from the month before in where the sales stood at USD 12.44 billion. The graph shows a slump in the furniture market in the country owing to the impact of the COVID-19 outbreak in the country. However, the country have registered a steady recovery in the furniture market.
  • India is the fifth largest producer and fourth larhest consumer of furniture in the world. According to National Investment Promotion and Facilitation Agency, the total rental furniture and appliances market in india reached INR 33,500crores during FY21.
  • Germany is the largest market for furniture in the European region. According to the Association of the German Furniture Industry (VDM), the turnover for the furniture industry valued at Euro 17.2 billion in 2020. Furthermore, according to VDM, German exports of furniture increased by 17 percent year-on-year and reached 6.2 billion euros (USD 7 billion) in the first nine months of 2021.
  • Overall, the growth in the residential and commercial market is expected to drive the use of MDF in the furniture through the forecast period.
Medium Density Fiberboard (MDF) Market Share

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market, holding a share of more than 60%. The increasing construction activities in China, India, and Japan are boosting the demand for MDF in the region.
  • China accounted for almost more than 40% of the global share. The rapid growth in consumption of medium density fiberboard (MDF) in China has been majorly driven by the ample developments in the residential and commercial construction sectors, which are being supported by the growing economy.
  • The consumption of MDF is likely to witness a positive strides in China, as the country is investing USD 1.43 trillion in the next five years till 2025 in major construction projects. According to National Development and Reform Commission (NDRC), the Shanghai plan includes the investment of USD 38.7 billion in the next three years, whereas Guangzhou has signed 16 new infrastructure projects with an investment of USD 8.09 billion.
  • Japanese construction industry is expected to be blooming as the country will host the World Expo in 2025 in Osaka, Japan. Furhtermore, Toranomon Azabudai District Redevelopment project, Yaesu redevelopment project and a 61-storey, 390 m tall office tower due for completion in 2023 and 2027 respectively.
  • Furthermore, the furniture market in Indonesia accounts for over 1.23% of the country's total exports as the furniture export in 2020 stood at USD 1.91 billion, registering a growth of 7.7% per annum, thus it will provide huge market for MDF in forecast period.
  • Such factors, in turn, are likely to boost the demand in the MDF market in the region.
Medium Density Fiberboard (MDF) Market Growth

Competitive Landscape

The medium density fiberboard (MDF) market is highly fragmented in nature. Some of the major players in the market(not in any particular order) includes Kronoplus Limited, ARAUCO, SWISS KRONO GROUP, Sonae Arauco and Duratex.

Major Players

  1. Kronoplus Limited

  2. ARAUCO

  3. SWISS KRONO GROUP

  4. Sonae Arauco

  5. Duratex

Kronoplus Limited, ARAUCO, SWISS KRONO GROUP, Sonae Arauco, Duratex

Recent Developments

  • In Feburary 2021, West Fraser Timber Co. Ltd. (“West Fraser”) and Norbord Inc. have jointly announce that they have completed the previously announced transaction whereby West Fraser has acquired all of the shares of Norbord.
  • In July 2019, ARAUCO signed an agreement to acquire Prime-Line Inc., a privately-held manufacturer of medium density fiberboard (MDF) molding and millwork products. The acquisition strengthened Arauco’s presence in the North American molding industry.
  • In January 2019, ARAUCO made an agreement for the purchase of MASISA’s industrial assets in Mexico, which involved two industrial complexes located in Durango and Zitácuaro.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increase in Demand for MDF for Furniture

      2. 4.1.2 Easy Availability of Raw Materials

    2. 4.2 Restraints

      1. 4.2.1 Stringent Government Regulations

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Price Trends

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Cabinet

      2. 5.1.2 Flooring

      3. 5.1.3 Furniture

      4. 5.1.4 Molding, Door, and Millwork

      5. 5.1.5 Packaging System

      6. 5.1.6 Other Applications

    2. 5.2 End-user Sector

      1. 5.2.1 Residential

      2. 5.2.2 Commercial

      3. 5.2.3 Institutional

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

        4. 5.3.2.4 Rest of North America

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ARAUCO

      2. 6.4.2 DAIKEN CORPORATION

      3. 6.4.3 Dare Panel Group Co. Ltd

      4. 6.4.4 Duratex

      5. 6.4.5 EGGER Group

      6. 6.4.6 Eucatex

      7. 6.4.7 Fantoni Spa

      8. 6.4.8 Kastamonu Entegre

      9. 6.4.9 Korosten MDF Manufacture

      10. 6.4.10 Kronoplus Limited

      11. 6.4.11 Nelson Pine Industries Limited (Sumitomo Forestry Co. Ltd)

      12. 6.4.12 Roseburg

      13. 6.4.13 Sonae Arauco

      14. 6.4.14 SWISS KRONO GROUP

      15. 6.4.15 West Fraser

      16. 6.4.16 Weyerhaeuser Company

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Prominence for the Production of Specialty MDF

**Subject to Availability
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Frequently Asked Questions

The Medium Density Fiberboard (MDF) Market market is studied from 2017 - 2027.

The Medium Density Fiberboard (MDF) Market is growing at a CAGR of >3.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

Kronoplus Limited, ARAUCO, SWISS KRONO GROUP, Sonae Arauco, Duratex are the major companies operating in Medium Density Fiberboard (MDF) Market.

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