Sustainability attributes of fiberboard fall perfectly in line with the growing environment consciousness among industrialists and consumers alike. This has further bolstered adoption of fiberboard in applications that include interior flooring and paneling. Rising requirement for deforestation, to cater demand from solid wood applications, will provide the fiberboard market an edge, concerning the environmental impacts.
The revenue growth of the global fiberboard market is estimated to exceed over 6% during the forecast period of 2018-2028. Fiberboard is expected to witness growth due to rising preference over the other alternatives such as solid wood and cheap plywood used in many emerging countries. Its high resistance to change in heat and humidity levels and potential to remain crack or expansion and contraction proof during climate change, adding to its durability is one of the major reasons for which the emerging regions are opting for fiberboard.
The Asia Pacific fiberboard market is expected to remain in the leading position, during the forecast period. This region is expected to be the major contributor to the growth of the fiberboard market due to the growing preference for fiberboard over traditionally used plywood in countries such as India. China and India are expected to account for the highest growth rates during the forecast period. Amongst China and India, the former is accounted for over 90% of the total consumption of fiberboard in the Asia Pacific regions.
Building and Construction Sector to Stay at the Forefront of Fiberboard Market
Since the dawn of rampant urbanization, building and construction industry is gaining significant attention, primarily in regions of APAC witnessing drastic growth. The key factor responsible for this overwhelming call is the burgeoning rise in number of single person households. The mushrooming number of new household and construction projects is also likely to pose as a predominant factor pushing growth of fiberboard market.
In case of countries like India and China, which are witnessing rapid urbanization, this demand is foreseen to be highly prominent. The region of MEA, primarily Africa, is poised to record meteoric growth in the fiberboard market during the assessment period. Roofing applications and renovations with regard to flooring & paneling are expected to complement the growth ambit of fiberboard market.
The Sustainability Revolution to Pave New Avenues for Fiberboard
One of the preeminent factors accentuating growth of global fiberboard market is its sustainable roots. Maximum of the medium density fiberboard (MDF) available in the market has been synthesizes using recycled wood, unlike the solid wood adversary which doesn’t adhere much to sustainability.
This sustainable-driven aspect makes it an ideal choice among the environment-savvy customers. A major fraction of customers hailing from different parts of the world are concerned about the adverse effects resulting from violence of sustainability, which makes them stand out as a prominent customer base with regard to medium density fiberboard.
Activities such as interior paneling and flooring for enhancing appeal of households seek for environment friendly options, thereby propelling the growth of fiberboard market. Massive number of trees being sliced off for solid wood applications makes fiberboard market gain an edge, as far as influence on environment is concerned.
Medium Density Fiberboard/High Density Fiberboard to Generate Massive Revenues, Segment to Witness Meteoric Growth
The medium density fiberboard/ high density fiberboard (MDF/HDF) segment is foreseen to retain its leading position in the market. Gaining huge traction due to its superior performance in altering temperature and moisture gradients, MDF/HDF is being increasingly sought by building and construction companies.
It is foreseen to manifest an impressive growth rate during the forecast timeline. For any company vying to capture a wider customer base, it is highly recommended to focus on developing product capacity of their respective MDF lines.
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