Decorative laminates are versatile materials with widespread applications. They enhance interiors in residential and commercial spaces, offering an array of designs and textures. Features of decorative laminates included durability, resistance to wear, and low maintenance, they are ideal for furniture, countertops, cabinets, and wall panels. These laminates provide cost-effective alternatives to natural materials, adding visual appeal to spaces while being functional and long-lasting. Their adaptability, coupled with aesthetic and practical benefits, makes them a preferred choice for interior décor in diverse settings.
According to Data Bridge Market Research, the Global Decorative Laminates Market is expected to grow with a CAGR of 5.61% in the forecast period of 2022 to 2029.
“Flourishing construction industry boosts the market’s growth”
The expansion of the decorative laminates market is propelled by the flourishing construction industry. Decorative laminates offer an array of design options and durability, making them popular choices for interior decor in residential and commercial spaces. As construction activities surge, the demand for visually appealing and resilient surface materials such as laminates increases. These laminates cater to aesthetic preferences while providing practical solutions, thus experiencing heightened demand due to their alignment with the growth trajectory of the construction sector.
What restraints the growth of the global decorative laminates market?
“Regulations governing melamine usage restraints the market’s growth”
The growth of the decorative laminates market is constrained by regulations governing melamine usage. Melamine, commonly used in laminate production, has faced concerns over its environmental and health impact. Stricter regulations on emissions, toxicity, and recycling have led to challenges in sourcing and manufacturing melamine-based laminates. This has necessitated innovation and the exploration of alternative materials. The compliance requirements, although crucial for sustainability, can hinder market expansion by affecting supply chains and driving up production costs in the decorative laminates industry.
Segmentation: Global Decorative Laminates Market
The global decorative laminates market is segmented on the basis of raw material, type, application, end- users, and product type.
- On the basis of raw material, the decorative laminates market is segmented into plastic resin, overlays, adhesives, and wood substrate.
- On the basis of type, the market is segmented into general purpose, postforming, special products, and backer.
- On the basis of applications, the decorative laminates market is segmented into cabinets, furniture, flooring, wall panels, tabletops, and countertops.
- On the basis of end- users, the decorative laminates market is segmented into residential, non- residential, and transportation.
- On the basis of product type, the decorative laminates market is segmented into low pressure laminates, paper, films and foils, high pressure laminates, and edge banding.
Regional Insights: Asia-Pacific dominates the Global Decorative Laminates Market
Asia-Pacific dominates the decorative laminates market due to the expanding residential sector and increasing disposable income in the region, there is a notable surge in demand. With more people seeking improved living spaces and having greater spending capacity, the housing industry experiences growth, leading to increased investment and consumption, particularly in residential properties.
North America on the other hand, will continue to however show lucrative growth within the forecast period due to rising disposable income and rapid urbanization, significant growth is observed. As urban centers expand, more people are moving into cities, creating demand for various goods and services. This economic upswing is fueled by increased consumer spending, with urban lifestyles generating diverse opportunities across industries.
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The Prominent Key Players Operating in the Global Decorative Laminates Market Include:
- Fletcher Building (New Zealand)
- OMNOVA Solutions Inc. (U.S.)
- Greenlam Industries Ltd. (India)
- Merino Laminates Ltd. (India)
- Wilsonart LLC. (U.S.)
- Archidply (India)
- FunderMax (Austria)
- Stylam (India)
- Heritage Laminate Surfaces (India)
- Timber Products Company (U.S.)
- Tarkett (France)
- SEKISUI CHEMICAL CO., LTD. (Japan)
- Cedar Decor Pvt Ltd. (India)
- The Diller Corporation (U.S.)
- Kronoplus Limited (Germany)
- ATI Decorative Laminates (U.S.)
- Royal Crown (Italy)
- Northern Laminates Private Limited (P) Ltd. (India)
- Virgo Group (India)
- AICA Laminates India Pvt. Ltd. (India)
Above are the key players covered in the report, to know about more and exhaustive list of global decorative laminates market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Decorative Laminates Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
