global growth in commercial sector is driving the Edge Banding Materials Market
Technavio analyzes that the Edge Banding Materials Market is expected to grow at a CAGR of 7.75% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 155.5 million.There are various factors that contribute to the growth of the market. The global market for Edge Banding Materials is experiencing significant growth, particularly in the commercial sector. This expansion can be attributed to the increasing demand for furniture and cabinetry in various industries such as hospitality, healthcare, and education. Edge banding materials provide a cost-effective and aesthetically pleasing solution for finishing edges of these products, thereby driving market growth. Additionally, advancements in technology have led to the production of edge banding materials with improved durability and resistance to wear and tear, further boosting market demand.
The edge banding materials market for new buildings is experiencing significant growth due to the increasing demand for residential construction worldwide. With the expanding middle class population and housing shortages, there is a surge in the demand for furniture and fixtures, including edge banding materials. These materials are essential for sealing the exposed edges of plywood in various residential applications, such as apartments, homes, flats, bungalows, student accommodation, and sheltered housing. The segmentation of edge banding materials includes metal and ABS sub-segments, with abrasion resistance and impact resistance being key factors driving demand. Residential complexes and commercial complexes are primary end-users of these materials, as they require durable and aesthetically pleasing edge banding solutions. The global edge banding materials market for new buildings is projected to grow moderately during the forecast period, driven by the rising incomes and economic growth in various countries, leading to an increase in demand for residential buildings.
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Edge Banding Materials Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The Edge Banding Materials Market encompasses various products such as PVC, Wood, Resin, Heat Applicators, Hot-melt Glue, Particleboard, MDF, Plywood, and Edge Banding for wooden panels. These materials find extensive applications in the Construction sector, Interior Design, Residential and Commercial complexes, Shopping malls, Restaurants, Cafes, Theaters, Stores, Airports, Offices, and Hotels. PVC and Resins are commonly used as edge banding materials, while Hot-melt Adhesive ensures their secure attachment. Engineered wood, Laminates, and other Panel Materials complete the market landscape.
In the dynamic global building products market, key players specialize in the manufacturing of components such as windows and doors, flooring, ceiling and wall fixtures, roofing and gutter materials, insulation materials, cabinets, plumbing fixtures, and home improvement products and equipment. According to Technavio's market analysis, the building products industry's expansion is primarily driven by the burgeoning construction sector in both developed and developing economies. Urbanization and infrastructure development in emerging markets, particularly in the areas of residential and healthcare facilities, are significant growth catalysts. Edge banding materials, including PVC, wood, resin, heat applicators, hot-melt glue, particleboard, MDF, plywood, and wooden panels, are essential components in the production of furniture and wooden panels, further fueling market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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