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Flourishing Construction Industry in East Asia to Give Tailwinds to Fiberboard Market Growth, Pushing the Sales Past US$ 19.5 Bn
Fact.MR's extensive study on the fiberboard market brings to fore important insights concerning major growth dynamics, including drivers, restraints and opportunities. The report also provides a holistic overview of the expected trends and factors driving the sales for the next decade.
NEW YORK , Feb. 24, 2022 /PRNewswire/ -- The global fiberboard market is projected to expand at a CAGR of 8.1% during the forecast period 2022-2032 and reach US$ 25.1 Bn by 2022.
Medium density fiberboard (MDF) is a composite wood product made of wood fibers mixed with wax and resin and molded by applying high temperature and pressure. Expansion of construction trade and interior decoration industries has led to an upsurge in demand for wood products.
Hence, numerous furnishing industry players are eyeing MDF as an alternative substitute for low-density ply due to its smooth texture, and durability. On account of this, the demand for fireboards is expected to surge over the coming years.
Federal Reserve Economic Data of USA displays incessant growth in sales for furniture stores with US$12.5 Mn in January 2022 with an upturn of almost 30%. Nevertheless, the perception of MDF being lightweight wood' and having a lack of strength might impede the growth in the market.
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Further, as MDF is versatile and has countless unique features, making them highly sought-after compared to the other wood boards such as chipboards, layer boards, and others. Hence, with diverse applications of MDF due to its qualities/characteristics and ease of working, the sales in the market are expected to accelerate.
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Leading players in the fiberboard market are offering various marketing strategies such as mergers and acquisitions, expansions, collaborations, and partnerships.
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Fact.MR provides a detailed analysis of the global fiberboard market, providing forecast statistics for the period of 2022-2032. In order to gain a better perspective of the global market potential, its growth, and scope, the market is segmented on the basis of -
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