The edge banding materials market size is expected to reach US$ 2,620.53 million by 2028; registering at a CAGR of 9.7% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Rise in Demand from Residential Sector to Escalate Edge Banding Materials Market Growth
The report highlights key factors driving the market and prominent players along with their developments in the market.
Edge banding is the process of gluing strips or bands of different materials and thicknesses to cover the sides of raw wood or non-wood materials. It can be produced from different materials such as melamine, polyvinyl chloride, acrylonitrile butadiene styrene, or wood. Edge banding has a lot of benefits when it comes to furnishing and is predominantly used to prevent water absorption and humidity on wooden surfaces. It is also utilized to give wood veneers a smooth aesthetic finish as it conceals the rugged natural texture of solid wood.
Edge banding materials are widely used in residential furniture. The residential furniture industry is booming with the rising number of global residential construction projects. According to the US Census Bureau and the US Department of Housing and Urban Development, the number of new, privately owned, completed housing units in the country increased by 3.1% from August 2021 to August 2022. Edge banding is used in residential furniture, store fixtures, and kitchen and bathroom cabinets to enhance their appearance.
Product Resources, Inc.; EdgeCo Incorporated; Surteco USA Inc.; Charter Industries, LLC; JSO Wood Product; Product Resources, Inc.; Sauers & Company Veneers; EdgeCo Incorporated; Edgebanding Services, Inc. (ESI); and REHAU Incorporated are among the major players operating in the global edge banding materials market. Players operating in the global edge banding materials market are highly focused on developing high-quality and innovative product offerings to fulfill the customers’ requirements.
Impact of COVID-19 Pandemic on Edge Banding Materials Market
Many industries, including chemicals & materials and construction, faced unprecedented challenges due to disruptions in the global supply chain caused by the COVID-19 pandemic that adversely affected the manufacturing, delivery schedules, and sales of various goods. The market size for edge banding materials decreased due to a decline in the growth of several industrial sectors. Many production sites were either partially or fully closed to curb the spread of SARS-CoV-2. The COVID-19 pandemic also caused fluctuations in the prices of edge banding materials. However, as the economies started reviving their operations, the demand for edge banding materials also began to rise globally. The demand for edge banding materials is gradually increasing, backed by the recovery of industrial and commercial activities. The increasing use of edge banding materials in the furniture industry is expected to offer opportunities for the global edge banding materials market growth during the forecast period.
Global Edge Banding Materials Market Breakdown – by Region
Edge Banding Materials Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material [Plastic (PVC, ABS, Acrylic, and Others), Wood, Metal, and Others] and End Use (Residential and Commercial & Industrial)
Edge Banding Materials Market Size & Share Industry Growth 2028
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The report includes the segmentation of the global edge banding materials market as follows:
The global edge banding materials market, by material, is segmented into plastic, wood, metal, and others. The plastic segment is further subsegment into PVC, ABS, acrylic, and others. Based on end use, the global edge banding materials market is segmented into residential and commercial & industrial. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The North America edge banding materials market is further subsegmented into the US, Canada, and Mexico. The Europe market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific edge banding materials market is divided into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The MEA market is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The South & Central America market is segmented into Brazil, Argentina, and the Rest of South & Central America.
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