Growing trend of readymade Furniture has been helping demand of PVC Edge band tape in India market. As per report, the demands of PVC Edge band were intact in April month despite of growing Covid cases followed by lockdown in many states. Reports from PVC tape industry confirm that they had remarkable orders in April month, because Furniture units were not much affected due to lockdown.
Mr. Manish Arora, Director, REHAU India says that the demand of edge band is still there, orders are constant but the deliveries are impacted due to Lockdown and curfew implementations at various regions across India. The rate of fear and death is constantly increasing and this factor is a major road block for the order fulfilment.
Mr. Jay Garg, Director, E3 group views that the demand in April was remarkable. We were not expecting so many orders. In May, the demand has gone down as the menace of Covid is on rise. He further adds that In April, the lockdown was not in parts. The North markets & South markets were open in most days last month. The demand was good. Another factor is that due to lockdown in Gujarat & Maharashtra, many edge factories were not running. It resulted in more orders for the factories which were running. In current month, most of the South and North is in lockdown, so both demand and production are low. But once the lockdown is over, demand will be very good.
Mr. Akshit Agarwal, Director, Square One says, “Lockdown has had a big effect on the PVC edge band market. Orders from distributors and dealers are down to 10% of their original and OEMs are down to 33%. Overall demand is down to 25% of original. It’s just enough that we can keep our factory running so we can provide full salary to our labour and office teams.” He further adds, “At a time like this when everyone is busy saving their own lives, no one has time to think about new furniture. Meanwhile last years lockdown was different where people were sitting in their homes and thinking about what they can do to make their work from home experience a little better. This included getting new furniture. We hope for better times in the future but at this point we are happy to just be able to run our factory so we can cover our costs.”
It is noted that furniture manufacturing units have lots of pending orders and during this lockdown; the government has allowed factory operations n many states, which is also favoring Edge Band Tape demand. Mr. Jay Garg says that Last year the demand was tremendous once we started production after lockdown. It was increasing as the year was progressing. At E3, we once again witnessed growth as we added One Lac Meter per day capacity in January. But last year, the raw material prices got almost double which was very disturbing. This year has also begun with lockdowns. I would like to wish everyone Good health and safety from Corona. We all will recover the losses due to lockdown just like last year.
n many states, which is also favoring Edge Band Tape demand. Mr. Jay Garg says that Last year the demand was tremendous once we started production after lockdown. It was increasing as the year was progressing. At E3, we once again witnessed growth as we added One Lac Meter per day capacity in January. But last year, the raw material prices got almost double which was very disturbing. This year has also begun with lockdowns. I would like to wish everyone Good health and safety from Corona. We all will recover the losses due to lockdown just like last year.
The market is showing signs of explosiveness year on year and it is clear that all companies have a piece of the pie. All edge band companies including us reported record revenue in 20-21 and he was hoping to take this forward in 21-22.
With approx. 40 manufacturing establishments, PVC Edge Band Tape industry has been posted tremendous growth since last 5 years, and it has been growing more than 20 % CAGR every year. After Covid Pandemic, the growing trend of readymade furniture demand and decreasing imported furniture market, this product demand has been registered good growth, with more capacity addition in 2020 and more expansion in pipeline in 2021. Laminate brand Merino has recently entered into this product manufacturing and other laminate manufacturing companies are eyeing to enter into this product manufacturing in next couple of year.