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MDF Decorative Overlays Market Analysis

  • Report ID: GMI5069
  • Published Date: Jun 2021
  • Report Format: PDF

MDF Decorative Overlays Market Analysis

PET-based MDF decorative overlays will generate over USD 175 million by 2027 as the product comes with a variety of gloss ranges. The products feature resistance against breaking, cracking, and chipping, making them ideal for retail store fixture applications. Further, they prevent the substrate from bacteria & fungi, moisture, etc., driving their usage in healthcare facilities & medical centers.

 

The softwood segment generated around USD 300 million in 2020. Wood is commonly utilized in the furniture sector as it can be easily converted into different shapes & sizes. The product is also used for its versatility & extensive strength and is readily available across the world. It is mainly sourced from evergreen trees, such as pine, spruce, fir, etc., and is less costly than hardwood.
 

MDF Decorative Overlays Market by Application

The furniture segment will hold over 40% revenue share by 2027. Increasing disposable income and rising urbanization in emerging countries will drive product penetration in MDF decorative overlays market by 2027. Additionally, growing government investment in residential housing construction is rapidly driving the demand for furniture, which is projected to enhance product penetration in the segment. The global furniture market reached approximately USD 600 million in 2019, which is expected to grow at over 5% from 2020 to 2026. Such trends are expected to increase the usage of MDF decorative overlays in the sector by the end of 2027.
 

MDF Decorative Overlays Market by Region

The Asia Pacific region will witness around 5% CAGR through 2027 and can be attributed to the growing construction output in major countries including China, India, Japan, South Korea, etc. The region is experiencing an increase in sales of decorative films in furniture and bath & kitchen sectors owing to increasing consumer focus on aesthetically appealing housing. Furthermore, rising affinity toward luxurious homes along with increasing expenditure of homeowners on decorative products is expected to boost the MDF decorative overlays market demand by 2027.
 

Additionally, growing construction output in emerging countries of the region will further enhance the MDF decorative overlays market growth by 2027. South Korea reported 7.2% year-on-year in construction expenditure in 2019, which was valued at KRW 383.6 trillion (USD 340 billion). This figure included both general construction and specialized construction activities. Growing construction activities along with increasing consumer spending toward the construction & building sector are projected to drive product demand by 2027.

Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

The market share of MDF decorative overlays was valued at USD 339 million in 2020 and will witness a CAGR of over 5.7% up to 2027.

The industry revenue from PET-based MDF decorative overlays is expected to exceed USD 175 million by 2027 on account of the higher need for a variety of gloss ranges.

The softwood MDF segment was valued at USD 300 million in 2020 and will grow with the increasing usage across the furniture sector.

Furniture applications will account for close to 40% of the MDF decorative overlay market revenue share by 2027 driven by the expanding disposable incomes and increasing urbanization in emerging countries.

APAC MDF decorative overlays industry is poised to record more than 5% CAGR through 2027 due to the rising construction output in China, India, Japan, and South Korea.

MDF Decorative Overlays Market Scope

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 10
  • Tables & Figures: 271
  • Countries covered: 22
  • Pages: 230
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