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Decorative Laminates Market Segmented By Low Pressure Laminates, Paper, Films and Foils, High Pressure Laminates, Edge Banding Product for Furniture and Cabinets, Flooring, Wall Panel
The demand for decorative laminates is relatively high in developing countries such as India and China in the Asia Pacific region. One of the major reasons behind the growth of the market in these two countries is a rapid increase in the population accompanied by expansion of the economy that ultimately results in increase in per capita income.
This increasing disposable income leads to an increase in the spending ability on home interiors. This factor is boosting the growth of the decorative laminates market across the Asia Pacific region.
Owing to an upsurge in the utilization of ready-to-assemble floorings as well as furniture and cabinets, the demand for high pressure laminates is likely to increase at a stable pace during the assessed period. Moreover, advanced functional properties such as scratch resistance, chemical resistance, anti-microbial and anti-fingerprint are further leading to an increase in the demand for high pressure laminates.
Besides, by facilitating advanced R & D initiatives to foster innovation, manufacturers of high pressure laminates are able to develop newer and more advanced products. Manufacturing of eco-friendly decorative laminates is expected to present lucrative growth opportunities for manufacturers to enhance the existing customer base and augment market value share.
Digital laminates are customized laminates available according to individual consumer needs to enable specific designs, graphics, and patterns to be directly printed on laminates.
With the use of latest technologies, the designer’s concept can now be transferred digitally and directly to the company facilities, which can further produce different digital sheets of any product type. Such laminates can be applied directly on walls, multipurpose furniture, stands, exhibition stalls, pictures, doors and other areas.
“Rapid growth in the residential sector in urban as well as semi-urban areas in North America and Europe is expected to contribute significantly to overall market growth. Substantial growth in the services and manufacturing sector has led to strong growth in the global GDP in the past. This, in turn, has had a positive impact on the decorative laminates market.”
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By application, the furniture & cabinets segment is estimated to dominate the global decorative laminates market and is expected to create total incremental dollar opportunity of US$ 20,629.2 Mn between 2017 and 2025. In terms of value, the furniture & cabinets segment is expected to gain 210 BPS in 2025 as compared to 2017 and is expected to expand at a CAGR of 5.5% during the forecast period.
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Get a Customized VersionIn terms of volume, the global decorative laminates market is pegged at 10,814 Mn Sq. Meter in 2017 and is expected to reach 15,645 Mn Sq. Meter by 2025 end. The market is slated to expand at a CAGR of 4.7% in terms of volume over the forecast period. Global sales of decorative laminates is estimated to be valued at US$ 64,515.6 Mn in 2017 and is projected to increase at a CAGR of 5.1% over the forecast period to be valued at US$ 95,877.8 Mn by 2025.
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