“The growing use of decorative laminates in the non-residential sector is a key factor fueling the growth of the decorative laminates market”
The global decorative laminates market is estimated to reach USD 7.97 billion by 2021, at a CAGR of 3.5% from 2016 to 2021. Rapid growth of the construction industry coupled with the improving standard of living of consumers is the key factor driving the demand for decorative laminates. Moreover, low installation and maintenance cost of decorative laminates are also driving its market demand. However, fluctuating raw material price is the key challenge faced by decorative laminate manufacturers.
“Based on type, the general purpose segment of the decorative laminates market is expected to grow at the highest CAGR during the forecast period”
Based on type, the general purpose segment of the decorative laminates market is expected to grow at the highest CAGR during the forecast period. Decorative laminates are being rapidly adopted in various applications, as they have excellent properties such as impact resistance, ease of cleaning, hygiene, scratch resistance, and heat resistance. These properties make it suitable for direct applications on plywood, aluminum, plaster, concrete, steel, fiber reinforced plastic, and gypsum board. General purpose decorative laminates is a stiff, hard, thin, abrasion-resistant strong material that has durability and excellent aesthetic appeal.
“The rising demand for use in various applications is expected to drive the decorative laminates market in the Asia-Pacific region”
Asia-Pacific is expected to be the fastest-growing market for decorative laminates. Developing economies in the region with rapidly growing infrastructure are expected to lead to an increase in demand for decorative laminates in the region. High population in the region is fueling the demand for advanced infrastructure. In addition, rapid urbanization and increasing disposable income are encouraging use of decorative laminates in the region. China, Australia & New Zealand, India, Japan, and Indonesia are the key markets for decorative laminates in Asia-Pacific.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below:
- By Company Type - Tier 1 - 37%, Tier 2 – 50%, and Others - 13%
- By Designation - C level - 19%, Director level - 50%, and Others – 31%
- By Region - North America - 24%, Europe - 28%, Asia-Pacific - 29%, South America - 14%, and the Middle East & Africa - 5%
Key companies profiled in this market research report are Fletcher Building Limited (New Zealand), Omnova Solutions Incorporation (U.S.), Greenlam Industries Limited (India), Merino group (India), Wilsonart International Inc. (U.S.), Abet Laminati S.p.A. (Italy), Archidply Industries Limited (India), FunderMax Gmbh (Europe), Panolam Industries International, Inc. (U.S.), and Stylam Industries Limited (India).
This report covers the decorative laminates market, in terms of value, and forecasts the market size till 2021. The report includes market segmentation based on raw material (plastic resin, overlays, adhesives, and wood substrate), application (cabinets, furniture, flooring, table top, countertop, and wall panels), type (general purpose, postforming, backer, and special products), end-use sector (residential, non-residential, and transportation), and region (Asia-Pacific, Europe, North America, Middle East & Africa, and South America). The regions have been further segmented based on key countries into the U.S., Canada, Mexico, Germany, Russia, the U.K., France, Spain, Italy, Turkey, Poland, China, Australia & New Zealand, Japan, South Korea, Indonesia, India, Saudi Arabia, South Africa, UAE, Egypt, Brazil, Argentina, and Chile. The report also provides company profiles and competitive strategies adopted by the key players in the decorative laminates market.
The report will help market leaders/new entrants in the global decorative laminates market in the following ways:
- This report segments the decorative laminates market comprehensively and provides closest approximations of the revenue numbers for the overall market, and the subsegments across different verticals and regions.
- It will help stakeholders to understand the pulse of the market, and provide them information on key market drivers, restraints, challenges, and opportunities.
- It will help stakeholders to understand competitors and gain more insights to improve their position in the business. The competitive landscape section includes new product launches, expansions, and mergers & acquisitions.