Growing Construction Activities In Emerging Economies Has Bossted The Demand For Decorative Laminate Market

Decorative Laminate Market Size, Share, Trends, Growth, Analysis, Research

Global Decorative Laminate Market: Key Highlights

  • According to the new market research report Decorative Laminate Market by Material (Wood, Plastic Resin, Paper, Plywood, Adhesives), by Manufacturing Type (High-Pressure laminate, Low-Pressure Laminate), by Application (Furniture, Wall Panels, Cabinets, Flooring, Countertops, Others), by End-user (Commercial, Residential, Transportation), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global decorative laminate market is estimated to reach USD 11.2 Billion by 2027 at a CAGR of around 4.8% during the review period.  
  • Decorative laminates are widely used to give a finished look to furniture elements and commonly used to decorate and protect wooden furniture    
  • High-pressure laminate (HPL) countertops are a great choice for laboratory and industrial spaces that rely on durable surfaces and it does not require a material that can withstand extreme applications
  • Availability of both glossy and rough textures, laminates can replicate almost all surface finishes including wood, stone, marble, leather and more

Decorative Laminate Market

Global Decorative Laminate Market: Key Market Dynamics

  • Growing construction activities in emerging economies owing to rising disposable income, stable political environment, and increasing disposable income has anticipated the growth of product market
  • Low installation and maintenance associated with decorative laminate has resulted in use in the various application has expected to drive the growth of the market
  • Concerns regarding the emission of volatile organic compounds (VOC) and problems associated with non-renewable products may hinder the growth of product market

Global Decorative Laminate Market: Regional Overview

  • North America

In North America, homeowners are engaged in investing in renovating their homes rather than buying a new once. This can be attributed to the rising population and improved standard of living. For instance, in June 2019, the Government of Wichita in Kansas, U.S. has announced the construction and renovation of six swimming pools which are planned to be decorated using decorative laminate.

  • Asia-Pacific

The Asia-Pacific is witnessing strong growth in the construction industry in emerging economies such as India, Philippines, China, Vietnam, and Indonesia, this may further increase the demand for decorative laminate in the region. An increasing disposable income and an increase in the middle-class population have facilitated the expansion in the construction activities in the region, further driving the demand for the market. Moreover, the construction industry in China is developing rapidly due to the initiative of the government for infrastructure development. For instance, Invest India has forecasted that Indian the construction industry is expected to reach USD 738.5 billion by 2022.

Global Decorative Laminate Market: Key Players Overview

  • Greenlam Industries Ltd.:

Greenlam Industries Ltd. is engaged in beautifying the interiors, transforming spaces. The company has the largest and widest distribution network of over 14,000 distributors, dealers, and retailers across the globe. The company is among the world’s top 3 and Asia’s largest laminate producer with a manufacturing capacity of 15.62 million sheets per annum. They operate through business segments namely laminate, decorative veneer, engineered wood floors, and engineered door solutions. In June 2019, Greenlam Industries Ltd. acquired Switzerland-based decorative surfaces trader Decolan SA. This aquisition will help the company to serve the customers faster and strengthen its position in European market.

  • Wilsonart LLC:

Wilsonart LLC is one of the leading engineered surface company. The Company manufactures and distributes solid surface, coordinated TFL, high-pressure laminate, quartz and edgebanding and other decorative engineered surfaces for use in the office, education, healthcare, residential, hospitality, and retail markets.

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Published : 2020-02-28