MDF Decorative Overlays Market Analysis

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.
 

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.
 

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.