Global Edge Banding Materials Market : Industry Analysis and forecast 2020 – 2026
Global Edge Banding Materials Market size was valued US$ XX Mn in 2019 and is expected to reach at xx Mn by 2026 at a CAGR of 8.9% during forecast period.
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The report covers an in-depth analysis of COVID 19 pandemic impact on Global Edge Banding Materials Market by region and on the key players’ revenue affected till December 2020 and expected short term and long-term impact on the market.
Global Edge Banding Materials Market Dynamics:
Edge banding is a thin material used to seal the exposed and raw edges of plywood. Edge Banding can be made of different materials such as plastic, wood, metal and others. Rapidly expanding construction industry across the globe is boosting the consumption of edge banding materials. Residential and commercial constructions are rapidly developing in emerging economies. In the building & construction industry, edge banding is used in carpentry and furniture-making. Edge banding is used to cover the exposed sides of materials such as plywood, particle board or MDF, giving the appearance of a solid material. Edge banding can also be used instead of features such as face frames or molding. Thus growing use of edge banding in building and construction industry is expected to propel the market growth during forecast period.
In last few years, the adoption of cutting-edge industry-grade hot-melt adhesive and heat applicators are increasing in the furniture industry, which in turn boosting the adoption of edge banding materials. This trend is expected to propel the edge banding market growth during forecast period.
Dearth of universal directives pertaining to applications of edge banding, fluctuation in raw material prices and less adoption in many underdeveloped countries are expected to restrain the market growth during forecast period.
Global Edge Banding Materials Market Segmentation Analysis:
By Materials, a plastic material segment dominated the global edge banding market in 2019 and is expected to keep its dominance over the forecast period. The plastic material segment contains various resins such as PVC, ABS, Acrylic, and others. Among all of these resins, PVC is the most popular choice of material due to the choice of different color schemes, customization, impermeability, and ease of use on curved surfaces in comparison with wood edge bands. Furthermore, the higher durability of PVC edge bands is another factor that is likely to augment sales over the course of the assessment period. The wood material segment is expected to expand at a significant pace during the forecast period owing to growing adoption in residential construction projects.
COVID -19 Impact on the Edge Banding Material Market
• Market players operating in the global edge banding market are mainly Tier I and Tier II players. These players have their operations across North America, APAC, Europe, Latin America, and Middle East & Africa. Many countries have adopted the lockdown as a measure the curb the spread of coronavirus. This Lockdown has halted the manufacturing operations and impacted negatively on the supply chain of the edge banding market. This lockdown has created potential challenges in obtaining necessary raw materials, the disruption of global supply chains may also be jeopardizing chemicals producers’ ability to deliver finished products to customer.
• The chemical sector’s supply chain has historically been strongly dependent on China, which has been heavily impacted by the COVID-19 pandemic. China, one of the epicenters of the COVID-19 outbreak, is a major link in the supply chain of many chemical companies. This pandemic may drive the sector to consider alternative sourcing opportunities, which could have important tax, transfer-pricing, and customs implications. Global companies may consider repatriating overseas cash from foreign subsidiaries.
Global Edge Banding Materials Market Regional Analysis
By geography, the global edge banding market is segmented into North America, APAC, Europe, MEA& Africa, and Latin America. APAC dominated the global edge banding market in 2019 and is expected to keep its dominance over the forecast period owing rapidly expanding construction industry in China, India, Japan, and ASEAN countries. The edge banding market in India is expected to grow at a CAGR of 11.23% during the forecast period owing to the rapid expansion of residential and construction sectors in India. In addition, factors such as economical production and less manufacturing costs, cheap labor in India are likely to attract market players from other regions.
North America is expected to grow at a significant pace during forecast period owing to growing renovation & reconstruction projects in U.S. and Canada. Europe is expected to grow at a steady growth rate during the forecast period owing to stringent regulations pertaining to the use of plastic material in edge banding.
The objective of the report is to present a comprehensive analysis of the Global Edge Banding Materials Marketto the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Edge Banding Materials Marketdynamics, structure by analyzing the market segments and project the Global Edge Banding Materials Marketsize. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Edge Banding Materials Market make the report investor’s guide.
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Global Edge Banding Materials Market Scope: Inquire before buying
Global Edge Banding Materials Market2
Global Edge Banding Materials Market, by Region
• North America
• Europe
• MEA
• APAC
• South America
Global Edge Banding Materials Market Key Players
• Vaibhav Industries
• Veena Polymers
• Squareone Décor
• Paramount Composites India
• E3 Group
• Gdecor Industries India Private Limited
• REHAU India
• Shirdi Industries Ltd.
• Sri Umiya Industries
• MARUTI ENTERPRISE
• Altendorf Group
• CAMKO UK LIMITED
• David Clouting
• Dollken
• E3 Group
• EdgeCo Incorporated.
• ESI
• GDECOR INDUSTRIES PVT LTD
• REHAU
• Ultra Tech - Advanced Edge Banding
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