Decorative Laminate Market: Summary
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.
Decorative Laminate Market: Drivers & Challenges
- Growing Construction Industry
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.
- Low Installation and Maintenance Cost
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.
- Non-Renewable and Emission of Volatile Organic Compounds (VOC)
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.
Decorative Laminate market: Key segments
- On basis of material: Wood, Plastic Resin, Paper, Plywood, and Adhesives
- On basis of manufacturing type: High-Pressure laminate, and Low-Pressure Laminate
- Based on application: Furniture, Wall Panels, Cabinets, Flooring, Countertops, and Others
- Based on end-use: Commercial, Residential, and Transportation
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America with individual country-level analysis.
Decorative Laminate Market: Report Scope
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.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million), Volume (Million Square Meter)
Material, Manufacturing Type, Application, End-User, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
KEY Companies Covered
- Greenlam Industries Limited (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Virgo Group
- Cedar Decor Pvt Ltd.
- OMNOVA Solutions Inc
- Wilsonart LLC.
- Abet Laminati S.p.A.
- Steelcase Inc.
- Stylam Pvt. Ltd
- Other Key Companies
Decorative Laminate Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Decorative Laminate Market, by Material
- Medium Density Board
- Plastic Resin
- Phenolic Resin
- Melamine Resin
- Saturating Kraft Paper
- Decorative Paper
- Vinyl Film
Decorative Laminate Market, by Manufacturing Type
- Low-Pressure Laminate
- High-Pressure Laminate
Decorative Laminate Market, by Application
- Wall Panels
Decorative Laminate Market, by End-user
- Office building
- Retail Building
- Industrial Building
- Individual Houses
- Air Crafts
- Luxury Cars
Decorative Laminate Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Decorative Laminate Market Providers
- Decorative Laminate Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Decorative Laminate Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE Decorative Laminate MARKET STUDY