Report : US Edge Banding Materials Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Material [Plastic (PVC, ABS, Acrylic, and Others), Wood, Metal, and Others] and End Use (Residential and Commercial & Industrial)
Increasing Demand From Residential Furniture Industry Drives US Edge Banding Materials Market
According to our latest market study, titled "US Edge Banding Materials Market Forecast to 2028 – COVID-19 Impact and Analysis – by Material and End Use," the market is expected to grow from US$ 163.4 million in 2021 to US$ 297.0 million by 2028; it is expected to grow at a CAGR of 9.3% from 2021 to 2028. The report highlights key factors driving the US edge banding materials market and focuses on prominent players and their progress in the market.
Edge banding is the process of glueing strips or bands of different materials and thicknesses to cover the sides of raw wood or non-wood materials. It can be produced from different materials such as melamine, polyvinyl chloride, acrylonitrile butadiene styrene, or wood. Edge banding offers many benefits in furnishing and is predominantly used to prevent water absorption and humidity on wooden surfaces to protect them. It is also used to provide wood veneers with a smooth aesthetic finish as it conceals the rugged natural texture of solid wood.
Edge banding materials are widely used in residential furniture. Due to the increasing population and consumer disposable income, the demand for residential construction in furniture applications is growing. In addition, the increase in renovation activities to enhance the appearance of the residential buildings is expected to fuel the overall growth of the residential segment. Edge banding is used in residential furniture, store fixtures, millwork, and kitchen and bathroom cabinets to enhance their appearance.
Furthermore, edge bandings are used in high-traffic and commercial environments, such as massive office spaces, to provide greater resilience and impact resistance. Edge banding materials are extensively employed in furniture to increase its durability and lifespan.
Product Resources, Inc.; EdgeCo Incorporated; Surteco USA Inc.; Charter Industries, LLC; JSO Wood Product; Product Resources, Inc.; Sauers & Company Veneers; EdgeCo Incorporated; Edgebanding Services, Inc. (ESI); and REHAU Incorporated are the key players operating in the US edge banding materials market.
Impact of COVID-19 Pandemic on US Edge Banding Materials Market
The US edge banding materials market witnessed growth before the onset of the COVID-19 pandemic due to the increased usage of edge banding material in the construction of residential and commercial buildings. However, the pandemic adversely affected the chemicals & materials industry, resulting in the shutdown of construction activities and manufacturing facilities, challenges in procuring raw materials, and restrictions on logistic operations. The US recorded the highest number of confirmed COVID-19 cases in North America. The unprecedented rise in the number of COVID-19 cases across the country and the subsequent lockdown of numerous manufacturing facilities negatively influenced the growth of the US edge banding materials market. Further, the overall disruptions in manufacturing processes, research, and development activities restrained the market growth.
Moreover, the severely decreased construction activities reduced the demand for edge banding materials in the US. However, the market is reviving due to the government's significant measures, such as vaccination drives. Growing demand for edge banding materials from the residential & non-residential construction sector is propelling the US edge banding materials market growth. Moreover, various players in the region are seeking more investment opportunities as businesses gain confidence in stabilizing economies and increasing demand, thereby providing the impetus for market growth.
The "US Edge Banding Materials Market Forecast to 2028" is a specialized and in-depth study of the chemicals & material industry, focusing on the US edge banding materials market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The US edge banding materials market is bifurcated on the basis of material and end use. Based on material, the market is segmented into plastic (PVC, ABS, acrylic, and others), wood, metal, and others. Based on end use, the market is segmented into residential and commercial & industrial.
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