According to the latest research report of MRFR analysis, the Edge Banding Materials Market Size is expected to reach USD 1,754.19 Million by the end of the year 2027, by registering a CAGR of 9.6%. The exposed and raw edges of the plywood are sealed using edge banding which is a thin material. In other words, edge banding is a technique for covering the exposed edges of wood panels with thin strips of PVC, wood, or resin material. Industry-grade heat applicators and hot-melt glue are used in the banding procedure. It's used in furniture and construction to cover the exposed sides of materials including particleboard or MDF, and plywood, giving the appearance of a more premium material. It may also be deployed in place of objects like face frames and molding.
Surging demand for edge banding materials across various end-users, especially in the residential and commercial industries, has been one of the major factors adding fuel to the edge bending materials market growth. The rising requirement for user-friendly and environmentally friendly edge banding materials has produced a significant market demand for the product. The overall edge banding materials market is anticipated to rise considerably during the forecast period, owing to its wide utilization and rise in the construction sector throughout the world. These edge banding materials are more durable and long-lasting than wood fillers and painting edges, they also have a competitive advantage over them. The residential sector in emerging economies is increasing rapidly, resulting in increased demand for edge banding materials which can be considered as another major driving factor of the global market.
This report contains all the information on the global market forecast, research, and market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global edge banding materials market analysis and forecast to 2027 is also included in the report.
Due to the emergence of the covid 19 pandemic around the globe, construction projects in impoverished countries throughout were halted abruptly. Furthermore, delays in the completion of various projects owing to labor shortages, economic instability, and supply chain hurdles are some of the reasons that have hampered the market demand, resulting in a sluggish growth rate of the global edge banding materials market in 2020. The market is projected to show indications of revival, as shutdown restrictions in various countries are gradually removed.
The major factors such as the rising construction sector, particularly in an emerging country like the Asia Pacific, the edge banding materials market trends has seen tremendous expansion. The market is witnessing tremendous growth due to increased demand for furniture as a result of the rising housing sector, as well as the increased need for user-friendly and sustainable edge banding materials.
The residential sector, especially in developing countries, is rapidly increasing, resulting in increased demand for edge banding materials. Throughout the assessment period, the rising demand for sustainable and user-friendly edge banding materials is expected to have a direct influence on the overall growth of the edge banding materials market.
An increase in the number of building projects, along with developments in the interior design sector, is predicted to create new chances for the edge banding materials market during the assessment period.
The edge banding materials market is likely to be hampered by recyclability and environmental issues, as well as numerous laws & regulations and changing raw material costs, which are considered as a major restraint of the global market price during the forecast period.
When left uncovered, the rough edge can cause considerable problems for furniture. These, in addition to being unsightly and creating scratches and nicks, can allow moisture to sneak through. This causes the wood to rot and become lumpy, posing a significant challenge for the leading market.
In the Americas, construction growth in 2018 climbed by 17 percent in Oklahoma City, 15 percent in Las Vegas, 15 percent in Hartford, and 14 percent in Houston, in the top metropolitan cities. Furthermore, non-residential construction climbed by 4% in 2018, while residential growth climbed by 6%, thanks to a 9 percent increase in single-family housing. As a result of these reasons, the construction sector is likely to drive the edge banding materials market in the region worldwide.
According to the reports, the global edge banding materials market is segmented on the basis of type, end-user industry, and region. On the basis of type, the global market is further segmented into plastics, wood, and others. In 2019, the plastics type segment had the biggest edge banding materials market share and it was one of the fastest-growing segments. It's further divided into PVC, ABS, Acrylic, and other types. Due to its hardness, heat tolerance, abrasion resistance, and durability, PVC accounts for a significant portion of the market. The wood segment held a considerable market share of more than 15% in 2019 and is expected to continue to do so throughout the research period. One of the most common uses for polymer-coated textiles is furniture. They can be found on couches, chairs, tables, ornamental objects, and other objects used in homes and businesses.
On the basis of end-user, the global edge banding materials market is segmented on the basis of residential, commercial, and others. Residential is likely to be the most popular end-user segment and it will continue to dominate the market during the projection period. This category is predicted to develop in the approaching years due to rising residential activities due to the rising population and disposable income of individuals. In the commercial segment edge, banding materials are expected to have lucrative growth in the future, due to strong building activity in emerging nations like China and India.
The market is segmented on the basis of the type, end-user industry, and region. The global edge banding materials market is expected to witness decent growth during the forecast period.
Based on the type, the market is segmented into plastics, wood, and others. The plastic segment is further divided into PVC, ABS, Acrylic, and other types.
Based on the propulsion types, the market is segmented into residential, commercial, and others.
According to the reports, on the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The growth of the market in the North American market is being fueled by the expansion of residential and commercial construction activities as a result north America holds the largest share of the market during the forecast period. The European region is predicted to increase at the quickest rate. Infrastructure development and the expansion of the construction industry are two factors driving the region's edge banding materials market growth during the forecast period.
Asia-Pacific region in 2019, it had the biggest market share, over 35%, and is expected to maintain its dominance during the forecast period. This is mostly owing to the product's strong demand in the furniture and construction sectors. Latin America's market for edge banding materials is predicted to develop due to the rapidly developing commercial industry, educational facilities, and other factors. Over time, the Middle East and Africa area has invested in its infrastructure sector. Furthermore, the expansion of a number of building projects in this region is likely to enhance the edge banding material industry in this region.
In order to gain a comparative benefit, market players are expected to focus on product diversification and aligning their growth plans with current and forecast trends. During the assessment period, the growing demand for sustainable and user-friendly edge banding materials is expected to have a direct influence on the overall growth of the edge banding materials market.Recent DevelopmentDecember 2021 - Egger Wood Products will be investing around USD 20 million for the addition of a thermally fused laminate manufacturing line at its lone U.S. production facility. This expansion will be part of the Phase I work completion at the site. Egger is a renowned Austrian developer of wood-based materials, and offers a wide range of value-added products including edge banding, thermally fused laminate (TFL), Medium Density Fiberboard (MDF), raw particleboard, laminate flooring, and MDF Mouldings. July 2021 - Holz-Her has introduced the latest Sprint 1329 multi-edgebander that has a host of intelligent technology as well as play-free advanced mechanical systems that facilitate simple and fast set-up of flexible machining as well as complete repetition accuracy. The edge banding technology provides a variable feed rate at around 10-18m/min and features an integrated multi-function milling technology such as several stage tools that facilitate Sprint to machine numerous radii or applications with a 45° bevel with just a touch, an innovative feature that was first developed for Holz-Her’s double-shift, industrial machines.
The following report comprises of –
|Market Size||2030: USD 1,754.19 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, End-users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Blažič robni trakovi, Coşkunuzer Mobilya Ltd. St, Aero Plastics Inc., EONCRED GROUP, Dongguancity Hexing Decorative Material Co., Ltd, Unipegasus Profiles Pvt. Ltd, Doellken-Woodtape, Inc., Veena Polymers, Squareone Décor, Moderne Kunststoff-Technik, E3 Group, Gdecor Industries India Private Limited, REHAU India|
|Key Market Opportunities||Demand for furniture depends on the scenario of the housing industry.|
|Key Market Drivers||The major factors such as the rising construction sector|
Edge Banding Materials Market is predicted to grow at 9.6% through forecast period of 2020-2027.
The forecast period for Edge Banding Materials Market research report is 2020-2027.
The prominent players operating in the Edge Banding Materials Market include Blažič robni trakovi, Coşkunuzer Mobilya Ltd. St, Aero Plastics Inc., EONCRED GROUP, Dongguancity Hexing Decorative Material Co., Ltd, Unipegasus Profiles Pvt. Ltd, Doellken-Woodtape, Inc., Veena Polymers, Squareone Décor, Moderne Kunststoff-Technik, E3 Group, Gdecor Industries India Private Limited, REHAU India