Edge Banding Materials Market Research Report — Global Forecast till 2027

Global Edge Banding Materials Market Research Report by Type ( Plastic, Wood), By End-use (Residential, Commercial), by Region (North America, Europe) and Forecast till 2027

ID: MRFR/CnM/9044-HCR | April 2021 | Region: Global | 180 pages

Market Synopsis


According to MRFR analysis, the global Edge Banding Materials market is projected toregister a CAGR of 9.6% to reach USD 1,754.19 million by the end of 2027.


Edge banding process is used to cover the raw edges of wood panels with a thin-strips of PVC, wood or resin material called edge banding. It is done by using industry-grade heat applicators and a hot-melt adhesive. It finds application in furniture and carpentry making to cover the exposed sides of materials such as particle board or MDF, plywood and give the appearance of more valuable material. It can also be used instead of features such as face frames or molding.


The major factors favoring the growth of the market are surging demand for edge banding materials across various end-users especially residential and commercial industries. The growing demand for user-friendly and sustainable edge banding materials has created a major demand for the product in the market. Thus, owing to its extensive application and the growth in the construction industry across the globe, the global edge banding materials market is expected to propel significantly during the forecast period.The edge banding materials offer a competitive advantage over wood fillers and painting edges due to theirbetter sustainability and endurance compared to the others.


In November 2015, MKT GmbH, a German edge banding manufacturer, acquired the ABS edge banding business of Corbetta FIA of Carugo, Italy. The acquisition allows more customer proximity and shorter delivery times.


Standardization Analysis


There are various standards imposed by the International Organization for Standardization (ISO) on edge banding machines. These standardizations are based on specifications thatare required to be followed by the manufacturers of edge banding materials. For instance, ISO 18217:2015 is for edge banding machine fed by chains with manual loading and unloading and maximum work-piece height capacity of 100mm, deals with all significant hazards and hazardous situations, ISO/FDIS 19085-17, is for woodworking machines, edge banding machines fed by chains and others.


Market Drivers



  • High demand for furniture, owing to the growing housing sector.

  • Growing demand for user-friendly and sustainable edge banding material is driving the market growth.

  • Increasing demand from the constructionsector is expected to propel the market size


Market Restraints



  • Recyclability and Environmental Issues is expected to hamper the growth during the forecast period.


Segmentation


By Type


Plastics: The plastics type segment accounted for the largest market share in 2019 andis one of the fastest-growing type segments. It is further classified as PVC, ABS, Acrylic and others. PVC accounted for a major share in the market due to its hardness, heat tolerance, abrasion resistance, and durability property. Furthermore, PVC edge materials are extensively cheaper than others, resulting in this segment's growth over the forecast period.
Wood:The wood segment held asignificant market share of more than15% in 2019 and is projectedto dominate the market during the review period.Furniture is one of the major applications of polymer-coated fabrics. They are used across sofas, chairs, tables, decorative items, and others used from house to corporate purposes.
Others:The other segment consists of metals, melamine, PVC wood-plastic composites, and ABS wood plastic composites

By End-use Industry


Residential: It is expected to be the largest segment in terms of end-user and is expected to dominate the market throughout the forecast period. The increasing residential activities owing to the growing population and increasing disposable incomeareexpected to boost this segment in the coming years.
Commercial:With increased construction activities in developing countries like China and India, the demand for edge banding materials is likely to witness profitable growth in the future.
Others: The other segment includes industrial, awning, roofing, canopies, and others.

By Region



  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa


Regional Analysis


North America: Adevelopment of construction activities of a residential and commercial buildingis propelling the North American market's growth.Amongst the top metropolitan cities, the construction growth in 2018 increased by 17% in Oklahoma City, 15% in Las Vegas, 15% in Hartford, and 14% in Houston. In addition, non-residential building increased by 4% in 2018, while residential growth increased by 6%, owing to the increase in single-family by 9% in 2018. Thus, owing to these factors, the construction industry is expected to propel the momentum for the growth of the edge banding materials market in the region.

Europe
:
The European region is expected to be the fastest market in terms of growth during the forecast period. Development of infrastructureand increase in the development of construction industriesare factors driving the market growth in the region.


Asia-Pacific
:
Held the largest market share, over 35%, in 2019 and is projected to retain its dominance during the forecast period. This is primarily due to the high demand for the product in the manufacturingindustries of furniture and construction industries.


Latin America
:
Relatively small but rapidly expandingcommercial industry and education utilities and others isexpected to boost the market growth for edge banding materials market in the region.


Middle East & Africa
:
This region has invested in its infrastructure industries over the years. Additionally, the increase in a number of construction projects in the region is further expected to boost the market in the region.


Key Players



  • 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