Edge Banding Materials Market is Setting the Standard of Smart Automation
Edge Banding Materials Market is Setting the Standard of Smart Automation
Blog Article
Edge banding materials refer to thermoplastic resin tapes made from ABS and PVC materials that are used to cover, protect and enhance the appearance of edges on wood furniture, cabinets, mouldings and panels. Edge banding improves scratch resistance, durability and prevents wooden components from chipping or fraying over time. It offers a wide range of design options to enhance furniture aesthetics. The global edge banding materials market is driven by growth of the furniture industry and demand for products that provide easy installation and maintenance with long-lasting shine and protection from wear and tear.
The edge banding materials market is estimated to be valued at US$ 1.42 Bn in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Key players operating in the edge banding materials market include Liaoning Lituo
Decoration Materials Co., Ltd., PRI Edgebanding, Maxave, Shanghai Fujuan Group Co., Ltd.,
Mobelkant, Edgebanding Services, Inc. (ESI), Hangzhou Yodean Import and Export Co., Ltd.,
Hangzhou Dawei Decorative Material Co., Ltd., Charter Industries, E3 GROUP, REHAU, Bhagyalaxmi Polymer Industries, Portakal, Richies, Huali, Pegasus, Asis Plywood Pvt. Ltd., Shirdi Industries, Mivaan Enterprises, and Pyramid Impex International.
Growing demand: Edge Banding Materials Market growth is driven by the rapid growth of the construction and furniture industries, along with rising disposable incomes. This has led to an increased demand for premium and aesthetically pleasing furniture and interior products, boosting the consumption of edge banding materials globally.
Global expansion: Key manufacturers are focusing on expanding their geographical footprint in high growth markets like Asia Pacific and Latin America through partnerships, collaborations and manufacturing plants. Countries with large furniture manufacturing industries like China, India, Brazil and Mexico are attracting significant investments.
Market key trends
The global edge banding materials market is observing a rise in demand for eco-friendly, recyclable, and sustainable alternatives. Edge banding material manufacturers are developing bio-based, plantderived polymers that have comparable durability as conventional plastics with lower carbon footprint. Another major trend gaining popularity is customized and digitally printed edge banding materials with photo-realistic graphics, textures and patterns providing vast options for unique designs and décor themes. Advanced laser and CNC technology is enabling precise cuts and highresolution printing on edge bands.
Porter’s Analysis
Threat of new entrants: The edge banding materials market requires high initial capital investment and R&D costs which create significant barriers for new companies.
Bargaining power of buyers: Edge Banding Materials Market Challenges and Opportunities reveal that large buyers in the construction industry can negotiate lower prices from manufacturers due to strong price competition in the market.
Bargaining power of suppliers: The edge banding materials market has several raw material suppliers which reduces their bargaining power over manufacturers.
Threat of new substitutes: There are limited product substitutes for edge banding materials as they provide unique aesthetics and protection for wood panels.
Competitive rivalry: Being a fragmented market, there is intense competition among existing manufacturers to gain market share through product innovation and competitive pricing.
Geographical Regions
North America accounts for the largest share of the global edge banding materials market in terms of value owing to extensive construction activities in the US and copyright. The residential and commercial construction sectors in the region utilize significant quantities of edge banding materials for cabinetry, furniture and doors & windows applications.
Asia Pacific region is projected to be the fastest growing regional market between 2024 to 2031. This is attributed to rapid urbanization and infrastructure development in India and China. Additionally, expanding middle class populations and growing construction spending are fueling the demand for consumer goods incorporating edge banding materials.
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