New York, United States , Aug. 14, 2024 (GLOBE NEWSWIRE) -- The Global Edge Banding Materials Market Size is Expected to Grow from USD 1.30 Billion in 2023 to USD 3.134 Billion by 2033, at a CAGR of 9.20% during the forecast period 2023-2033.
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Edge banding materials are strips or layers used to cover and protect the exposed edges of panel materials, such as plywood, particleboard, or MDF (medium-density fiberboard), in furniture and cabinetry. They give a complete look, increase durability, and withstand wear and moisture. Edge banding materials are commonly used in cabinets, furniture, kitchen and bathroom cabinets, retail fixtures, and DIY projects to maintain a professional appearance and increase the life of the products. The edge banding materials market is primarily driven by expansion in the building and furniture industries, which increases demand for visually appealing and customizable alternatives. Consumer preferences for different finishes, as well as developments in manufacturing technology, have a significant impact on market trends. Regulatory restrictions, particularly those about environmental standards, boost demand for eco-friendly products. However, the edge banding materials market faces several restraining factors that can hinder growth including volatile raw material costs, stringent environmental regulations, and economic downturns that reduce consumer spending.
Browse key industry insights spread across 208 pages with 108 Market data tables and figures & charts from the "Global Edge Banding Materials Market Size, Share, and COVID-19 Impact Analysis, By Material Type (Plastics [PVC, ABS, Acrylic, and Others], Woods, Others), By Application (Residential, Commercial, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The PVC segment is predicted to hold the largest market share through the forecast period.
Based on the material type, the edge banding materials market is classified into plastics [PVC, ABS, acrylic, and others], woods, and others. Among these, the PVC segment is predicted to hold the largest market share through the forecast period. This dominance is due to PVC's greater durability, diversity in treatments and colors, and low cost, making it a preferred choice for a wide range of furniture and cabinetry applications. PVC is available in a wide selection of colors, patterns, and finishes, making it suited for many design styles.
The residential segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the edge banding materials market is divided into residential, commercial, and others. Among these, the residential segment is anticipated to hold the highest market share during the projected timeframe. This dominance derives from the high demand for edge banding in home furnishings, cabinetry, and DIY projects, as well as the growing trend of customization and personalization in domestic interiors. Tables, workstations, bookcases, and closets are examples of residential furniture made using edge banding. They finish and polish the exposed edges of these furniture items.
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Asia Pacific is estimated to hold the largest share of the edge banding materials market over the forecast period.
Asia Pacific is estimated to hold the largest share of the edge banding materials market over the forecast period. This dominance is due to rapid industrialization, significant growth in the construction and furniture industries, and increasing demand for residential and commercial interior products in the region.
North America is predicted to have the highest CAGR growth in the edge banding materials market over the forecast period. North America's growth has been driven by an increase in construction and remodeling activities, technological developments, and rising demand in the furniture business. The region's concentration on embracing innovative and sustainable materials enhances this expansion.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the edge banding materials market include Veena Polymers, IMA Schelling Group, Vaibhav Industries, Aeroplastics Inc., REHAU India, Blazic robni trakovi, Coskunuzer Mobilya Ltd. St., Unipegasus Profiles Pvt. Ltd., Gdecor Industries India Private Limited, SURTECO GmbH, E3 Panels, EdgeCo Incorporated, Square One Decor, Teknaform Inc., and Others.
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Recent Developments
- In June 2024, OAV Equipment & Tools, Inc., an international supplier of woodworking machinery, unveiled its latest quick-change edge banding machine model at the WOOD TAIWAN 2023 expo.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the edge banding materials market based on the below-mentioned segments:
Global Edge Banding Materials Market, By Material Type
- Plastics [PVC, ABS, Acrylic, and Others]
- Woods
- Others
Global Edge Banding Materials Market, By Application
- Residential
- Commercial
- Others
Global Edge Banding Materials Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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