Global Decorative Laminate Market: Key Highlights
Global Decorative Laminate Market: Key Market Dynamics
Global Decorative Laminate Market: Regional Overview
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.
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. 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 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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