According to the MRFR analysis, the global Edge Banding Materials Market size is expected to reach over USD 1,754.19 million by the end of 2027 at a CAGR of 9.6%.
Edge banding materials are made of various materials, including acrylonitrile butadiene styrene (ABS), polyvinyl chloride (PVC), wood, acrylic or melamine. This material is used to seal the exposed and raw edges of the plywood. The growth of edge banding materialsis attributed to the continuous use of these materialsacross the end-use industry such as residential, commercial and others.The heat-sensitive adhesiveand cutting-edge industry hot melt adhesive results in increasing demand for edge banding materials over the forecast period, aiding the growth of this market. Also, the growing construction industry in emerging economies is expected to create an opportunity for the market players to develop and launch new edge banding materials and enhance their position in the market. Construction is one of the major factors for the growth of the market. It plays a major role in the insulation and heat sealing of buildings and other parts.
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This segment is bifurcated into plastics, wood, and others.
- Plastics:The plastic segment in the global edge banding materials is further classified as ABS, PVC, acrylic, and others. Polyvinyl chloridesegment is expected to account for a largest share in 2019. The growth is attributed to the choice of various color schemes, impermeability, customization, ease of use on curves surface. In addition to this, PVC also offers high durability compared to wood edge bands, which is likely to pose a positive impact on the growth of this segment. The other plastic materials such as ABS and acrylic are also expected to gain traction in the forthcoming years.
- Wood:The wood segment is expected to account for a significant share in the global edge banding materials market by 2027.The growing demand from the furniture industry is expected to drive the growth of this segment.
- Others:The others segment consists of metals, melamine, ABS wood-plastic composites, PVC wood-plastic composites, and others.
By End User
This segment is classified into residential, commercial and others.
- Residential:This segment is expected to dominate the market throughout the forecast period. An increasing housing industry results in driving the growth of furniture, in turn fueling the growth of edge banding materials market. According to the US Census Bureau and the US Department of Housing and Urban Development, in the US, new privately-owned housing units in permit-issuing places were 1,386 in 2019, and it increased to 1,451.6 in 2020.
- Commercial:the commercial end user segment is expected to grow at a moderate pace during the forecast period. The rise in infrastructure and private commercial construction projects coupled with advancement in the interior design sphere is also expected to drive market growth. For instance, according to the US Census Bureau, the value of private non-residential construction in December 2015 was USD 414,328 million and reached a value of USD 495,274 million in 2019 in the US.
- Others:The others segment include medical institutions, educational institutions, and public utility spaces.
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- North America: The regional market growth is driven by the demand from the construction industry.
- Europe: It is A well-established residentialmarket.
- Asia-Pacific: It is the largest and fastest-growing regional market
- Latin America: Rapid construction of plants fueling the demand for edge banding materialsin Latin America
- Middle East & Africa: Growing investments in infrastructure development of the region are fueling the demand foredge banding materialsin the region.