New York, United States, August 26, 2024 (GLOBE NEWSWIRE) — The global Decorative Laminates Market is expected to grow from USD 8.39 billion in 2023 to USD 11.58 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 3.27% during the forecast period.
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Decorative laminates are laminated materials used for wall coverings or furniture surfaces. Laminates are suitable for both residential and commercial use. Due to their adaptability and durability, these laminate sheets can be used to enhance the appearance of any surface, including furniture, walls and cabinets. Decorative laminates are hard, brittle sheets designed to enhance the appeal of the surface. They are made of resins and high-quality paper pressed with the right amount of heat and pressure using the latest technology in a variety of colors, design patterns and textures. One of the major factors behind the growth of decorative laminates is the growing interest of customers in acquiring products and raw materials to enhance the appearance of their homes as they can transform the appearance of homes and offices into a beautiful environment. The ability to change people’s thinking and provide comfort by introducing customized decorative laminates and comfortable homes is increasing the demand from companies looking to recover from stress in the workplace. In addition, the global decorative laminates business suffered from a shortage of raw materials, a shortage of construction workers and a lack of transportation services.
Browse key industry insights across 230 pages of 120 market data tables and figures & charts from the report on the “Global decorative laminates market Size, Share and COVID-19 Impact Analysis, By Product (High Pressure Laminates and Low Pressure Laminates), By Application (Furniture, Flooring, Walls and Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2023 – 2033.”
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The high-pressure laminates segment accounted for the largest revenue share of the decorative laminates market during the forecast period.
Based on the product, the decorative laminates market is segmented into high pressure laminates and low pressure laminates. Among these, the high pressure laminates segment held the largest revenue share in the decorative laminates market during the forecast period. High-pressure laminates are in high demand due to their enhanced functional properties, which include scratch resistance, chemical resistance and antimicrobial properties. High-pressure laminate surfaces are perfectly suited to meet the high hygiene and infection control requirements in hospitals and laboratories due to their durability and easy cleaning.
The furniture segment holds the highest market share in the decorative laminates market during the forecast period.
Based on application, the decorative laminates market is segmented into furniture, flooring, walling and others. Among these, the furniture segment holds the highest market share in the decorative laminates market during the forecast period. Due to the continued growth in home renovations and increasing demand for interior design among consumers, dealers and others. Decorative laminates are widely used to enhance the visual appeal of wood furniture.
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North America is expected to hold the largest share of the decorative laminates market during the forecast period.
North America is expected to hold the largest share of the decorative laminates market during the forecast period. This is primarily due to market players expanding their operations to improve brand awareness and production capacity in response to increasing customer demand. For example, in March 2023, North American Specialty Laminations announced the acquisition of Diversified Manufacturing, a California-based decorative laminates manufacturer, to expand its market share.
The Asia Pacific market is expected to witness the fastest growth in the decorative laminates market during the forecast period, owing to the growing residential construction industry and increased disposable income in the region. The demand for decorative laminates in the Asia Pacific market is expected to be driven by increasing spending on new construction in developing countries, both residential and non-residential.
Competitive analysis:
The report offers the appropriate analysis of the major organizations/companies involved in the global market along with a comparative assessment primarily based on their product offerings, business overviews, geographical presence, corporate strategies, market share in segments, and SWOT analysis. The report also offers an in-depth analysis with a focus on the latest news and developments of the companies which include product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This enables to evaluate the overall competition in the market. Major key vendors in the global Decorative Laminates market are Sekisui Chemical, Kronospan Holdings, SierraPine, Omnova Solutions, FunderMax, Airolam Decorative Laminates, Archidply, Aica Kogyo Co., Ltd., OMNOVA Solutions Inc., Stylam Industries Ltd., Wilsonart LLC, Abet Laminati SpA, Panolam Industries International, Inc., Witex Flooring Products GmbH and other major companies.
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Recent developments
- In July 2023 Century Laminates has partnered with Manish Malhotra to develop a new collection of designer laminates. With this move, the company is targeting a niche market with a price range of INR 5,000 to INR 5,500.
Market segment
This study forecasts revenue at global, regional and country levels from 2020 to 2033. Spherical Insights has segmented the Decorative Laminates market based on the below mentioned segments:
Global Decorative Laminates Market, by Product
- High pressure laminates
- Low pressure laminates
Global Decorative Laminates Market, by Application
- Furniture
- Flooring
- Wall
- Miscellaneous
Global Decorative Laminates Market, by Regional Analysis
- North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East and Africa
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