QY Research: MDF Crown Molding Market to Collect more than US$100 mn by 2024 as Demand for Furniture Escalates
Industry: Industrial Equipment
Global MDF Crown Molding Market Research Report has incorporated the analysis of different factors that augment the market growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner.
Los Angeles, CA (PRUnderground) February 25th, 2020
QY Research has announced a new addition to its repository of machinery and equipment market research reports. Carrying the title “Global MDF Crown Molding Market Professional Survey 2019 by Manufacturers, Regions, Types and Applications, Forecast to 2024,” the report mentions that the global MDF crown molding market is predicted to reach over US$100 Mn by the end of 2024. Between 2019 and 2024, the global MDF crown molding market may grow at a moderate CAGR of 4.9%.
Factors Improving Demand for MDF Crown Molding Globally
● High demand for luxury and premium furniture
● Increase in house building rates due to rising global population
● Expansion of the real estate and construction and building industries
● Growing requirement for modern building materials
● Rising interest in ultra-modern office furnishings and home interior decoration
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High Demand for Class 1 Flame Retardant Materials to Increase Use of Fire Retardant MDF
The report covers three main type segments of the global MDF crown molding market, viz. general MDF, moisture resistant MDF, and fire retardant MDF. Based on application, the global MDF crown molding market is segmented into interior decoration, building materials, furniture industry, and others. Fire retardant MDF is largely used in public areas where meeting strict fire regulations is a must. It also finds use in indoor applications as it does not contribute to the formation of burning droplets and to fire spread.
Increasing Interior Decoration and Real Estate Spending to Benefit Developed Regions
North America and Europe could be among leading regional markets for MDF crown molding due to high spending on interior decoration and house renovation activities. The developed MDF crown molding markets could also benefit from the strong growth of the building and construction industry. Stringent fire regulations for the real estate and construction industries are expected to create remarkable demand for fire retardant MDF in the two regions. Furthermore, the advancement of architectural technology could strengthen the adoption of more advanced MDF crown molding in the regions.
Players to Make Heavy Investments in Product Innovation and Form Strategic Partnerships
Some of the leading companies operating in the global MDF crown molding market are Alexandria Moulding, Inc., BT Moulding, Woodgrain Millwork, Burton Mouldings, Metrie, House of Fara, Bosley Moldings, Cherokee Wood Products, Boulanger, and E&R Wood. Companies are anticipated to invest in new manufacturing techniques and equipment and research and development activities to increase product innovation. They could also sign long-term contracts and agreements with building and construction companies, architects, and interior decorators to establish a strong position in the global MDF crown molding market.
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