Market Overview:
The Global Decorative
Laminates Market is
showing immense potential in reaching a valuation of USD 91,015.03
Million with 5.30% CAGR
between 2019 and 2025. The time frame can also be considered the forecast
period. Market Research Future (MRFR) in its report has declared possibilities
for the market for decorative laminates and how it can achieve better growth in
the coming years.
Decorative laminates can be described as
laminated sheets made of brown
Kraft papers or
decorative printed papers that
have been fused by
heat and pressure. These
laminates find significant application in protecting furniture from various
wear & tear, scratches, fire risk, fungal or bacterial attack, and others.
It also gives a good aesthetic touch to the furniture. These laminates add
features like moisture and stain resistance that increases the durability of
furniture. At the same time, the lifespan of these products get increased by a
significant margin. It is further getting traction from low maintenance cost
and installation cost. These laminates are environment-friendly, but the
pricing of these decorative laminates depend much on the volatility of the raw
materials, which can hinder the growth process.
Competitive Landscape:
·
Wilsonart
LLC
·
Funder
America, Inc
·
Arclin,
Inc
·
Steelcase
Inc.
·
Panolam
Industries International, Inc
·
Merino
Industries Limited
·
Formica
Corporation
·
Greenlam Industries Limited
·
Stylam
Industries Limited
·
Abet
Laminati S.p.A.
·
OMNOVA
Solutions Inc
·
Pfleiderer
Market Segmentation:
The Global
Decorative Laminates Market can be read on the basis of type and application. MRFR’s report is further getting backing from
various data fetched by analysts to make the report more scientific.
By product type, the decorative laminates report can be segmented
into low-pressure laminates and high-pressure laminates. In 2018, low-pressure
laminates had coverage of over 80% of the market. It is further slated to grow
with 5% CAGR during the forecast period.
By application, the global report on the decorative
laminates market includes
wall panels, furniture & cabinets, and flooring. The furniture & cabinet segment can be considered the leading
segment as it had over 55% of the total market share in 2018. It is also
expected to climb high with 5% of the total market share in the coming years.
Regional Landscape:
The market in the Asia-Pacific region is providing the maximum traction to the
growth of the global market. In 2018, the region had a coverage of 45% of the
global market share and it is projected to grow with the fastest CAGR of 5.5%
in the coming years as well. The growth can be attributed to the burgeoning
construction industry, better consumer spending, and the population that is
generating the demand. In terms of volume and value, China is expected to lead
the regional market where the large consumer base and high urbanization count
are going to play assertive roles. In India, the market would also get a chance
to proliferate and gain advantages.
The North American market had the second position as they
covered almost 20% of the global demand in 2018. This can be attributed to the
adoption of these decorative laminates for renovation projects and better
flooring designs. The US is forming significant growth opportunities and is
expected to lead the market.
In October 2019, Wilsonart Engineered Surfaces declared
that they are selling their Wilsonart
Asia business to Aica Kogyo Co., Ltd. The latter is known for their role
as a major manufacturer in Asia in the chemicals and building materials
segment. The process would witness the handing over of decorative laminates
section as well.
Get Complete Research Report “Decorative Laminates Market
Research Report - Global Forecast till 2025” @ https://www.marketresearchfuture.com/reports/decorative-laminates-market-2363
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