The global MDF market amounted to 99.6M cubic meters in 2017, posting solid gains over the last ten years, according to the report World - MDF - Market Analysis, Forecast, Size, Trends and Insights, published by IndexBox,
Market volume expanded by an average annual rate 5.6 percent over the period from 2007 to 2017.
In the past few years, consumption growth decelerated after the strong 2010-2014 growth, caused by world GDP decrease due to oil price drop and a set of structural changes in Chinese economy.
In value terms, the market stood at $35.7B, which was about the level of 2016. The market recorded a robust upward trend from 2010 to 2014, until it turned downward, falling over the next three years due to a decline of global MDF prices.
China (56.8M cubic meters) was the country with the highest volume of consumption in the world, accounting for about 57 percent of global consumption. The other major consuming countries were: the United States (4.6M cubic meters), Turkey (4.1M cubic meters), Brazil (3.4M cubic meters), Poland (3.4M cubic meters), Russia (2.3M cubic meters), Iran (2.2M cubic meters) and South Korea (1.9M cubic meters). All these countries, together with China, comprised near 79 percent of global consumption.
MDF consumption is dependent on economic condition, the production of construction materials and furniture, which, in turn, are directly related with the construction sector. Pacific Rim is a region with the largest MDF market, which is likely to be the main beneficiary of the expansion in MDF production China alone occupied about 57 percent of the global market.
An increase in demand in the recovering building and furniture manufacturing sectors in North America will be a key driver for growth in the production of MDF. The construction industry in the U.S. also keeps showing growth, which is reinforced by the availability of loans. Strong employment also is a significant factor as it does directly affect consumer spending.
China, Turkey, Brazil, Poland, Russia, Thailand and Belarus are the biggest MDF producers in the world in value terms. All of these countries are intensifying production, mostly visible in Belarus (+31.5 percent), Russia (+9.9 percent), Turkey (+9.3 percent) and China (+9.0 percent).
Production of MDF reached 101.5M cubic meters in 2017; a relatively flat trend from 2007-2009 was followed by a steady growth through to 2017, which, however, decelerated over the last three years, hampered by a slowdown in the growth of demand. In value terms, global production of MDF was estimated at $36.4B in 2017, which approx. at the level of the previous year. For more information, see: https://www.indexbox.io/store/world-mdf-market-report-analysis-and-forecast-to-2020/
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