The global MDF market amounted to 99.6M cubic meters in 2017, posting solid gains over the last ten years. Market volume expanded by an average annual rate +5.6% over the period from 2007 to 2017.
In the past few years, consumption growth decelerated after the strong 2010-2014 growth, caused by world GDP decrease due to oil price drop and a set of structural changes in Chinese economy. In value terms, the market stood at $35.7B, which was approx. at the level of 2016.
The market recorded a robust upward trend from 2010 to 2014, until it turned downward, falling over the next three years on the backdrop of a decline of global MDF prices.
China accounts for more than a half of global MDF consumption
China (56.8M cubic meters) was the country with the highest volume of consumption in the world, solely accounting for approx. 57% of global consumption. The other countries lagged far behind: the U.S. (4.6M cubic meters), Turkey (4.1M cubic meters), Brazil (3.4M cubic meters), Poland (3.4M cubic meters), Russia (2.3M cubic meters), Iran (2.2M cubic meters) and South Korea (1.9M cubic meters); all these countries, together with China, comprised near 79% of global consumption.