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

Regional Analysis

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North America dominates the global edge banding materials market. The region is expected to hold a market revenue share of 41.1% in 2024. The extensive presence of furniture manufacturing industries catering to both commercial and residential segments has propelled the demand for edge banding materials in the region. Majority of the large furniture brands and OEMs operating across various countries have their manufacturing base in the U.S. This has ensured smooth supply of a wide variety of edge banding materials. In addition, the availability of advanced machinery for automated edge banding processes has strengthened the product’s adoption rate.

Asia Pacific has emerged as the fastest growing regional market over the recent years. There is a strong growth in furniture consumption backed by rapid urbanization, rising disposable incomes, and changing lifestyles in densely populated countries like China and India. This has attracted numerous international players to establish their manufacturing facilities. Alongside, a strong presence of domestic furniture brands catering to both local and international markets has augmented the product demand. Moreover, the moderate production costs and availability of raw materials at competitive prices in Asia Pacific have lured several North American and European brands to outsource their production activities to Asia. This has provided a fillip to the edge banding materials consumption.

In Europe, Germany dominates the regional demand due to a robust furniture sector and a strong presence of machinery manufacturers. Whereas, countries such as Italy, the U.K., and France have contributed to the market growth as well on account of their diverse wood-based industries. However, Asia Pacific is witnessing comparatively faster gains, which can threaten the supremacy of Europe in the long run if the same pace continues. Overall, led by expanding construction and furniture industries, the demand for edge banding materials is flourishing, with Asia Pacific and Europe complementing North America as the major markets globally.