October 12, 2021
As cited by the research report titled ‘MDF Decorative Overlays Market Size, Share and Industry Analysis Report By Product, (PVC, PET), By MDF (Softwood, Hardwood), By Application (Furniture, Kitchen Cabinets, Doors), Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report LLC, global MDF decorative overlays market is projected to expand significantly over 2021-2027.
High versatility and exceptional paint absorption capabilities associated with the product has bolstered its demand across various applications, which in turn is one of the major factors driving the growth of global MDF decorative overlays market.
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Moreover, researchers are developing eco-friendly MDF production processes to promote a low-carbon economy as well as sustainable use of natural resources using various ways, which is positively swaying the industry dynamics. In addition, increasing infrastructural development, growing population, and flourishing furniture sector are also augmenting the market scope.
For the record, MDF or medium density fiberboard is an engineered wood manufactured with a combination of glue and fine-particle wood fibers, which are then shaped as per the requirements using pressure. MDF is more affordable and versatile as compared to plywood & other engineered wood counterparts.
Speaking of the negatives, higher dependency on imports to cater the domestic infrastructural demands and fluctuating prices of raw materials are likely to hinder the market progression over the estimated timeline.
Based on product type, global MDF decorative overlays industry is segmented into PVC, and PET among others. Among these, PVC segment is anticipated to hold 40% market share by the end of 2027, owing to the its cost effectiveness and beneficial properties like excellent flexibility.
On the basis of MDF range, the marketplace is categorized into softwood MDF and hardwood MDF. As cited in the report, hardwood MDF segment is likely to witness substantial growth over the analysis period, due to its higher durability and strength in comparison to softwood products.
Considering the application spectrum, the business space is divided into furniture, doors, and kitchen cabinets including others. Rapid urbanization and infrastructural development worldwide, coupled with increasing inclination towards decorative surfacing materials, are fueling the product adoption for other applications like flooring, wall panel, etc.
The geographical analysis of global MDF decorative overlays market extends to North America, Middle East & Africa, Asia-Pacific, Europe, and Latin America. The report cites that Latin America market is anticipated to accrue significant returns over 2021-2027.
Leading players influencing the industry trends are ISA International, Mitsubishi Polyester Film GmbH, Hyundai L&C Europe GmbH, Riken Technos Corp., Renolit SE, Eurovinyl Plus, Hueck Folien GmbH, Taghleef Industries, Dackor, OMNOVA Solutions Inc., Inter IKEA Systems B.V., Daiken Corp., Nobia AB, Alno Moebelwerke & Co. KG, EGGER Group, Kastamonu Entegre, West Fraser, Kronospan Limited, and Grupo Alvic FR Mobiliario S.L.