Fact.MR: Fibreboard market to experience high revenue growth through 2028
The progress experienced in the setup of urban infrastructures has significantly promoted the demand for fibreboard. This trend is not confined to developed nations, but the contribution of developing nations towards the overall market growth for fibreboard has been impressive in the past few years. Fact.MR has published a new research report, “Fibreboard Market Forecast, Trend Analysis and Competition Tracking – Global Market insights 2018 to 2028,” on its online portal which discourse information associated to the future development of the global fibreboard market.
Based on research insights, the revenue growth estimated in the global market is likely to surpass 6 per cent during the forecast period between 2018 and 2028. This advancement can be attributed to the rising preference for fibreboard over other alternatives like solid wood and cheap plywood, especially in emerging countries.
Building and construction sector paving solid path for fibreboard market
The overwhelming demand for fibreboard due to the escalating count of single person households is becoming a major driver. The bourgeoning number of new household as well as construction projects is expected to steer the global fibreboard market to higher milestones. Rapid urbanization experienced across countries such as India and China is proving favourable for the concerned market. In addition, roofing applications and renovations in relation to flooring and paneling are projected to supplement the growth range of fibreboard market.
Medium Density Fibreboard to deliver compelling growth during forecast period
The study compiled by Fact.MR highlights the dominance of the Medium Density Fibreboard (MDF) segment during the coming years. The MDF segment will offer three times the revenue as compared to other segments in its category. Interestingly, MDF has acquired a major market share in India due to its versatility and cost-effectiveness. Presently, the MDF segment is projected to deliver 6 per cent CAGR during the stated forecast period. The rising demand for this board type in the APEJ region is anticipated to boost growth opportunities for major players.
Competitive landscape and manufacturer share
With innovations and high-end trends circulating at the global level, the fibreboard market displays significant potential to be channelized by manufacturers who are constantly striving to fulfill demands from various geographical regions. Currently, the industry is geared to observe a steady growth which could result in a dynamic market by the end of the forecast period. Key market players are expanding their product portfolios across leading markets, which is proving to be a major advantages for the overall fibreboard market.
Many of the active companies are working to enhance their product capabilities with the introduction of new functionalities aiding fresh production activities. Global presence has become the primary aim and utilization of lucrative regions like the Middle East and Africa, as well as Asia Pacific. Some of the leading players from the global fibreboard market discussed are Evergreen Fibreboard Berhadm, Kastamonu Entegre Agac Sanayi ve Ticaret A.S., UAB Grigeo Baltwood, Georgia Pacific Building Products LLC, Jining Best Star Wood Co Ltd., Proteak Uno SAB de C.V., Coillte Group and Norbord Inc.