January 29, 2020

Global Fiberboard Market Segmentation and Industrial Overview Forecast by 2028

Fiberboard is a type of product made from engineered wood materials. These products are normally categorized on the basis of density for applications in various end use industries, into high medium and low density variants. The global fiberboard market is projected to display a healthy rate of growth throughout the forecast period till 2028. This growth can be largely attributed to the extensive application in modern construction and building activities. This is especially true for emerging economies in the Asia Pacific.

Sustainability Initiatives Drive Up Use of Medium and High Density Variants

Medium density fiberboard and high density fiberboard is expected to dominate most of the market share. Superior traction can be attributed to higher levels of performance in terms of handling moisture gradients and altered temperatures.

These products are mostly sought after by construction and building companies, who are foreseeing better growth in the years ahead, which will increase the demand for fiberboard items. Consequently, fiberboard manufacturers are seeking to expand their operations for a greater production capability to keep ahead of the competition.

In addition, the growing importance being given to sustainability initiatives are also essential to the growth of the market. Most medium density fiberboard made nowadays is produced from recycled wood instead of solid wood options. The eco-friendly nature of fiberboard increases the adoption rates owing to higher popularity among eco-savvy consumers, as fiber board helps to reduce the amount of deforestation taking place for the building industry.

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Construction and Building Applications to Play Key Role in Growth

Ever since urbanization and industrialization has picked up pace on a global scale, the construction and building industry is gaining attention. The trend is especially prominent in the Asia Pacific region owing to higher number of single households coming up in this region. The massive impetus coming from the high growth rate of the construction industry in countries like China and India is expected to be very high. In addition, higher numbers of renovation projects are also expected to display a high rate of growth during the forecast period, with substantial contributions even coming from the Middle East and African countries.