Obviously it's the most common material in speakers
Question is how good or bad is it
Do most speaker brands use it only Becaue it's cheap ?
Is real wood better for the same use but just costs more so they don't use it ?
It depends .
Its often a good solution to have different thickness front and back of the cabinet, spreading the resonances from each wall at different frequencies. A very stiff cabinet has its resonances at a higher frequency. A wooden baffle made of oak is stiffer than MDF with the same thickness, and will have its resonanses at higher frequencies .
MDF may offer better inherent damping of the resonances than hard wood.
So what matters for the sound ?
I have experimented with bitumen in two DIY mdf cabinets filled with rockwool , and having bitumen on all of the inside walls made the resonances lower in frequency , and the sound was clearly inferior to the none-bitumen mdf cabinet . I took away all bitumen on only the left inside of the cabinet and this trick made the music sound better than the cabinet without bitumen.
So…. In my experience - its better with a cabinet that has different resonance frequencies on different walls and the music will sound cleaner and better. This can be done using bitumen only on the left or right inside of the cabinett , or build a cabinet with different thickness of the walls.
This is probably more important for the sound than the material its made of.
In my experience, a very stiff cabinet will often sound better with its resonances at higher frequencies, with a higher Q .
Thats less disturbing to the ear compared to a lower resonance at 150 Hz, with a lower Q .
A very stiff cabinet can still have a ”tuning fork” effect If the walls are identical. One must pay attension to the way the drivers are mounted on the baffle , using wooden screws may trigger resonances.
A couple of years ago I was test listener for some people who had made an identical loudspeaker except for the material in the boxes. One was made of 0.75 inch mdf and the other of 0.75 inch chipboard . The mdf cabinet sounded better to all listeners .
The loudspeaker with less resonances ever tested in Stereophile is made by Genelec , the G3 model.
This cabinet is made of aluminium and the drivers are clamped to the cabinet from behind .
Sidebar 3: Measurements I used DRA Labs' MLSSA system, a calibrated DPA 4006 microphone, and an Earthworks microphone preamplifier to measure the Genelec G Three's frequency response in the farfield. I used an Earthworks QTC-40 mike for the nearfield responses.
www.stereophile.com
I investigated the enclosure's vibrational behavior with a plastic-tape accelerometer. It was extremely inert. The only resonant mode I found was on the sidewall, at 637Hz (fig.1), but this is vanishingly low in level, even at SPLs >90dB.