Decorative laminates come in varied sizes, patterns, appearance, and thickness, thereby making them applicable across various end-use industries. The increased spending on furniture and cabinets is anticipated to drive the demand for decorative laminates.
Furthermore, rise in number of residential and non-residential buildings across the world has significantly increased the demand for decorative laminates from residential as well as commercial users. In addition, the development of the tourism sector is fueling the demand of luxurious buildings, thereby driving the demand for decorative laminates. However, high price and high application cost are major restraints of the market. Conversely, rise in trend of home renovation is anticipated to provide lucrative opportunities for the decorative laminates market growth.
The global decorative laminates market is segmented into product type, application, end-user industry, and region. On the basis of product type, the market is categorized into high-pressure laminates and low-pressure laminates. By application, it is bifurcated into walls flooring, and furniture& cabinets. Depending on end-user industry, it is fragmented into commercial and residential. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as product launch, business expansion, and acquisition to strengthen their market outreach and sustain the stiff competition in the market
COMPETITION ANALYSIS
The key companies profiled in the decorative laminates market report include Abet Laminati S.p.A, Archidply, Broadview Holding, Fletcher Building, Greenlam Industries Limited, Merino Industries Limited, Panolam Industries International, Inc., Stylam Industries Ltd., Synthomer Plc., and Wilsonart LLC.KEY BENEFITS FOR STAKEHOLDERS
- This report provides decorative laminates market analysis of segments, current trends and estimations from 2021 to 2031 to identify the prevailing decorative laminates market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the decorative laminates market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global decorative laminates market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- High Pressure Laminates
- Low Pressure Laminates
By Application
- Walls
- Flooring
- Furniture and Cabinets
By End Use
- Residential
- Commercial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Abet Laminati S.p.A
- Archidply
- Broadview Holding
- Fletcher Building
- Greenlam Industries Limited
- Illinois Tool Works
- Merino Laminates Ltd.
- Panolam Industries International
- Stylam Industries Ltd.
- Synthomer plc
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Table of Contents
Executive Summary
According to the report, titled, “Decorative Laminates Market," the decorative laminates market size was valued at $7.0 billion in 2021, and is estimated to reach $10.0 billion by 2031, growing at a CAGR of 3.4% from 2022 to 2031.The demand for furniture has increased in the past decade, owing to rise in number of homes. In addition, rise in work-from-home culture is contributing in its rising demand. Furthermore, as a result of rapid urbanization, the number of residential and nonresidential buildings is increasing in the urban areas. Moreover, decorative laminates are used as an overlay for the external and internal walls. In addition, high-pressure laminates are suitable for flooring purpose. For the furniture & cabinets, decorative laminate is used for providing it an attractive surface finish. Thus, rise in the number of buildings and surge in demand of furniture & cabinets positively influence the decorative laminates market growth.
The growth of the global decorative laminates market is mainly driven by rise in building construction activities and increase in spending on home renovation projects by home owners and building developers. However, high procurement and application cost of decorative laminates has the potential to limit growth of the market.
Commonly observed product types of decorative laminates are high-pressure laminates and low-pressure laminates. Among these, the high-pressure laminates segment accounted for the highest market share in 2021, and the same is expected to witness significant growth during the forecast period, owing to increase in demand from commercial sector. The market is analyzed with respect to different applications depending on wall, flooring, and furniture & cabinets. On the basis of end user, the market is categorized into residential and commercial.
In 2021, Asia-Pacific dominated the global decorative laminates market, in terms of revenue, followed by Europe and Asia-Pacific. Moreover, the market in Asia-Pacific has grown with high CAGR of 3.7%, owing to growth in development of single-family homes.
Furthermore, decorative laminates manufacturers are adopting various development strategies. For instance, in September 2020 Abet Laminati S.p.A. opened a showroom in Cuneo, Italy, it is named as Abet World.
However, during the pandemic lockdown, various manufacturers in the decorative laminates market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of decorative laminates manufacturing companies. In addition, lack of manpower and raw materials constricted supply of raw materials for decorative laminates, and has negatively influenced the growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
Key Findings of the Study
- The report provides an extensive analysis of the current and emerging decorative laminates market trends and dynamics.
- Depending on product type, the high-pressure laminates dominated the decorative laminates market share, in terms of revenue in 2021 and the same is projected to grow at a significant CAGR during the forecast period.
- By application, furniture segment registered highest revenue in 2021.
- On the basis of end-user industry, the residential segment garnered the highest revenue in 2021.
- LAMEA is projected to register highest growth rate in the coming years.
- The key players within the decorative laminates market forecast report are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the decorative laminates industry.
- The report provides an extensive analysis of the current trends and emerging opportunities of the market.
- In-depth decorative laminates market analysis is conducted by constructing estimations for the key segments between 2021 and 2031.
Companies Mentioned
- Abet Laminati S.P.A
- Archidply
- Broadview Holding
- Fletcher Building
- Greenlam Industries Limited
- Illinois Tool Works
- Merino Laminates Ltd.
- Panolam Industries International
- Stylam Industries Ltd.
- Synthomer plc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 213 |
Published | June 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 7049.4 million |
Forecasted Market Value ( USD | $ 9959.9 million |
Compound Annual Growth Rate | 3.5% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |