EDGE BANDING MATERIALS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Edge Banding Materials Market Size and Trends

The global edge banding materials market is estimated to be valued at USD 1.42 Bn in 2024 and is expected to reach USD 2.69 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.6% from 2024 to 2031.

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The edge banding materials market is witnessing significant growth owing to the rising consumption of wood and wood-based laminated boards across various end-use industries such as furniture and cabinetry manufacturing.

Market Driver - Increasing construction activities

The global construction industry has been growing steadily for the past few years with the increase in infrastructure development projects in developing nations, for instance according to data by invest India in 2022, The construction Industry in India is expected to reach US$1.4 Tn by 2025. Many countries are investing heavily in commercial and residential construction to meet the rising housing demand from a growing population. There has been a strong focus on public infrastructure like roads, bridges, airports, rails, etc., to boost economic growth. Reconstruction activities are also picking up in regions affected by natural disasters. All this construction work requires large quantities of wood, plywood, particle boards, and other wood panel materials, which, in turn, drives the demand for edge banding materials.

As developers put up more buildings, apartments, and gated communities, the need for internal and external wood trims, borders, edgings, and finishes rises significantly. Edge banding provides an aesthetically appealing look while also protecting the raw edges of wood panels, boards, and furniture parts. Various types of edge banding strips made of plastic, wood, and laminates are finding widespread application in construction joinery works, wooden flooring, windows, doors, and other fixtures. The booming real estate sector with new housing projects emerging across major cities in Asia Pacific, Africa, and Latin America is a key growth lever for edge banding producers. Even commercial spaces like malls, offices, and other buildings utilize edge banded interior components on a large scale.

Growing Furniture Industry

The global furniture industry has undergone rapid transformation in recent decades marked by rising disposable incomes, changing lifestyles, and growing affordability of quality furniture items. Many nations are emerging as major export hubs for all kinds of furniture catering to both business and residential segments. There is a constant influx of new design trends, materials and technology that has made furniture an important part of home décor and office interior projects. Meanwhile factors such as nuclear families, dual income households, and desire for frequent remodeling are fueling strong furniture sales worldwide.

Furniture manufacturing companies heavily rely on edge banded wood panels and boards in their product construction. Whether it is kitchen cabinets, wardrobes, sofa sets, beds, office tables, or shelves – most will have edges finished and protected by plastic or wood edge banding strips. This applies across all varieties of furniture from budget to premium segments. Increased furniture exports and booming retail sectors in developing economies have led to higher uptake of edge banding among manufacturers. Even eco-friendly furniture is incorporating edge banding made from sustainable materials like bamboo to appeal to conscientious buyers. Rising living standards continue to promote furniture as a significant application area driving consumption of edge banding worldwide.