July 19, 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 augmented 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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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 a pressure. MDF is more affordable and versatile as compared to plywood & other engineered wood counterparts.
Additionally, researchers are exploring eco-friendly MDF production processes to promote a low-carbon economy as well as sustainable use of natural resources through various ways, which is positively swaying global MDF decorative overlays industry dynamics.
Increasing infrastructural development, growing population, and flourishing furniture sector are also adding traction to the overall market size. On the downside, higher dependency on imports to cater the domestic infrastructural needs and fluctuating prices of raw materials are likely to restrain the market progression over the analysis period.
Based on product range, global MDF decorative overlays industry is segmented into PVC and PET among others. Among these, the 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 type, the marketplace is divided into softwood MDF and hardwood MDF. As cited in the report, the 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 ambit, the business space is categorized 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 segmental adoption over the study duration.
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 is anticipated to generate huge returns for the industry participants over 2021-2027.
Prominent players influencing the industry trends are Renolit SE, ISA International, Mitsubishi Polyester Film GmbH, Hyundai L&C Europe GmbH, Riken Technos Corp., Eurovinyl Plus, Dackor, Hueck Folien GmbH, Taghleef Industries, OMNOVA Solutions Inc., Alno Moebelwerke & Co. KG, Inter IKEA Systems B.V., Daiken Corp., Nobia AB, Kastamonu Entegre, West Fraser, EGGER Group, Kronospan Limited, and Grupo Alvic FR Mobiliario S.L..