In the world today, the price matters, the quality matters, and the service matters. Thus, the competition is all over. Those, who create the perfect synergy in price + quality + service, are succeeding in the business world.
A fierce competition in edgebanding industry is in existence even though on average the edgebanding material is only 1% of the total cost of furniture.
Let's explain this better by looking at the cost of a bedroom set. One good quality bedroom set has the following material (only panel and edgebanding are listed; there are also accessories which is more difficult to predict in term of pricing):