New York, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The global Thermoplastic Edge Band Market is expected to witness significant growth at a CAGR of 2.8% during the forecast period of 2023-2030. This growth is attributed to rapid industrialization and demand for aesthetically appealing furniture, among others.
According to a recent report by Consegic Business Intelligence, the thermoplastic edge band market is poised for strong expansion and is expected to reach USD 3,484.21 million by 2030. The market, which was valued at USD 2,804.50 million in 2022, is projected to grow at a compound annual growth rate of 2.8% during the period 2023-2030. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the thermoplastic edge band market.
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Edge banding is a thin material that is incorporated for sealing the exposed edges of plywood. This process is usually done to give a finished look to furniture, and kitchen counter. Edge banding is available in different thicknesses, due to their specific usage in cabinets, kitchens, and bathrooms. They are available in thicknesses ranging from 0.5mm, 1mm, 3mm, and others.
As the global demand for construction activities continues to grow, coupled with rapid industrialization, the thermoplastic edge band market is expected to witness further expansion and technological advancements. Also, due to the rise in commercial spaces, and the increase in innovation in residential living spaces due to growing population and urbanization, the thermoplastic edge band market would flourish significantly in the forecast period.
Global Thermoplastic Edge Band Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 3,484.21 million |
| CAGR (2023-2030) | 2.8% |
| By Material | ABS Edgebands, PVC Edgebands, PP Edgebands, PMMA Edgebands, and Others |
| By Structure | Rigid and Flexible |
| By End Users | Residential, Commercial, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Roma Plastik, Teknaform, REHAU Group, EGGER, Wilsonart, Surteco, MKT, Proadec, Dongguan Huali, and Sinowolf Plastic |
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Global Thermoplastic Edge Band Market Segmentation Details:
Based on Material, in 2022, the PVC edgebands segment contributed the largest market shares in the thermoplastic edge band market. PVC edgebands are largely popular as an edge banding material due to the variety of personalization, color schemes, and ease to use on curved surfaces as compared to wood edge bands. In addition, the greater durability of the PVC edgebands acts as a catalyst for the market growth of thermoplastic edge band market. PVC is also very commonly used across furniture applications as it has a long life, heat tolerance, and abrasion resistance. Hence, the aforementioned benefits are contributing to the segment growth of PVC edgebands.
Based on Structure, in 2022, the flexible segment contributed the largest market shares in the thermoplastic edge band market. Due to the high demand for flexible edge bands in wide application scope in pipes, and other usage including windows and doors. Moreover, flexible structure is preferred in all furniture related applications as they are easy to cut and can be applied without any challenges. Thus, the flexible segment is growing significantly due to the mentioned factors.
Based on End Users, in 2022, the residential segment contributed the largest market shares in the thermoplastic edge band market. Edge banding solutions are widely incorporated in residential spaces, as they are used to cover raw edges of various furniture at homes, design modular kitchens, bathroom finishing, and others. It also has advantages such as protecting the wooden panels in furniture from moisture, and thus is widely preferred in residential sectors.
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Based on Region, in 2022, Asia Pacific accounted for the largest share contribution of 38.50% to the market growth driven by rising consumer lifestyle trends and increasing demand for expensive furniture in this region. Also, the rise in residential projects in the Asia Pacific is significantly impacting positive growth on the thermoplastic edge band market
Competitive Landscape
Roma Plastik, Teknaform, and REHAU Group are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the thermoplastic edge band market is expected to grow steadily due to growing demand for sustainable and eco-friendly edge banding solutions among others. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
Recent Developments
- In November 2022, Wilsonart, a manufacturer of decorative laminates, expanded its partnership with Rugby ABP, one of the distributors of wood products and decorative surfacing in America, to expand its product offering to the New Mexico market. Through, Rugby ABP, a full-line wholesale distributor of specialty building products, Wilsonart is expected to expand its market base across various regions in the U.S.
- In December 2022, Surteco, a manufacturer of décor and surfaces, acquired the business vertical of laminates and coated fabric of Omnova Solutions Inc., U.S. Surteco, with the help of this acquisition, would further diversify their products and expand across North America and Asia.
Key Market Takeaways
- Based on material, the PVC Edgebands segment accounted for the highest market share in the thermoplastic edge band market statistics in 2022.
- Based on structure, flexible segment accounted for the highest market share in the thermoplastic edge band market statistics in 2022.
- Based on end users, the residential segment accounted for the highest market share in the thermoplastic edge band market statistics in 2022
- North America is expected to grow at the fastest CAGR of 3.4% during the forecast period due to the rising adoption of advanced technologies in North America, coupled with the large presence of significant players in the market locally
- In 2022, Asia Pacific accounted for the highest market share of 38.50% and was valued at USD 1,079.73 million, and is expected to reach USD 1,348.39 million in 2030.
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List of Major Global Thermoplastic Edge Band Market:
- Roma Plastik
- Teknaform
- REHAU Group
- EGGER
- Wilsonart
- Surteco
- MKT
- Proadec
- Dongguan Huali
- Sinowolf Plastic
Global Thermoplastic Edge Band Market Segmentation:
- By Material
- ABS Edgebands
- PVC Edgebands
- PP Edgebands
- PMMA Edgebands
- Others
- By Structure
- Rigid
- Flexible
- By End Users
- Residential
- Commercial
- Others
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Frequently Asked Questions in the Thermoplastic Edge Band Market Report
- What was the market size of thermoplastic edge band in 2022?
- In 2022, the market size of thermoplastic edge band was USD 2,804.50 million.
- What will be the potential market valuation for thermoplastic edge band by 2030?
- In 2030, the market size of thermoplastic edge band is expected to reach 3,484.21 million.
- What is the key restraint hampering the growth of the thermoplastic edge band market?
- Fluctuating cost of raw materials is likely to deter the thermoplastic edge band market growth.
- What is the dominating segment in the thermoplastic edge band market, by material?
- In 2022, the PVC edgebands segment accounted for the highest market share in the overall thermoplastic edge band market.
- Based on current market trends, which geographical region contributed the largest share in the market?
- Asia Pacific accounted for the largest market share in the thermoplastic edge band market.
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