The Global Decorative Laminate Market is projected to reach a value of over USD 11.2 billion by 2027 at a CAGR of around 4.8%.
Decorative Laminate is laminated products primarily used for wall paneling or furniture surface materials as it is available in various colors and texture. Low and high-pressure laminate are two manufacturing processes, differentiate by the pressure applied in the pressing process. Water resistance, durable, various variety, microbe resistance, easy to maintain, and customizable are some benefits offered by decorative laminate, results in gaining popularity for decorating commercial and residential space. It is commonly used for surface kitchen counters, tabletops, and cabinetry because of its benefits offered. Depending upon the type of product or manufacturing process, laminates are available in different specifications based on material, thickness, patterns, texture, and many more.
Market Driver:
According to the United States Census Bureau, in September 2019 US spent USD 1,301.8 billion on construction. Moreover, in an emerging market, the construction activities are growing rapidly owing to factors such as a stable political environment, rising disposable income, and increasing foreign direct investment. Furthermore, strong economic growth is one of the major factor in boosting construction activities. For instance, according to the International Monetary Fund (IMF), emerging markets and developing economies together registered a growth of 4.7% in 2018. Thus these factors are responsible to boost the construction in emerging markets such as India, China, Brazil, and Indonesia, and are expected to drive the decorative laminate market during the forecasted period.
Decorative laminates are produced by compressing two or more layers under pressure, resulting in impervious and high durable sheets. Additionally, decorative laminate offers benefits such as heat resistant, water resistance, stain and scratches proof making it easier to clean and take care. This has made decorative laminates more suitable for high traffic and damp areas such as tabletops and kitchens. Moreover, most of the manufacturers give a minimum warranty of around 10 years on their products which helps to avoid reinstallation cost. Thus, low maintenance and installation cost associated has is anticipated to boost the growth of the product market.
Market Restraint:
Decorative laminates contain wood, plastics, and resins. Laminates sometimes are heavily processed and filled with chemicals. Adhesives are used in some products may be toxic. A concern with some resins is the release of formaldehyde, the volatile organic compounds (VOC) in the finished product. These releases are dangerous potential sources of cancer-causing VOCs. Materials such as wood and plastics cannot be recycled and end up dumping after use resulting in waste products harmful for the environment. Thus, the emission of VOCs and their non-renewable nature may hinder the growth of the product market.
The report on the decorative laminate market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
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Base Year for Market Calculation |
2019 |
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Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million), Volume (Million Square Meter) |
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Segments Included |
Material, Manufacturing Type, Application, End-User, and Region |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Decorative Laminate Market, by Material
Decorative Laminate Market, by Manufacturing Type
Decorative Laminate Market, by Application
Decorative Laminate Market, by End-user
Decorative Laminate Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE Decorative Laminate MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
