New York, United States , Aug. 26, 2024 (GLOBE NEWSWIRE) -- The Global Decorative Laminates Market Size is to Grow from USD 8.39 Billion in 2023 to USD 11.58 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.27% during the projected period.
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Decorative laminates are laminated materials used for wall paneling or furniture surfaces. Laminates are appropriate for both household and business applications. Because of 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 intended to enhance surface appeal. It is made out of resins and high-quality paper that are pressed with an appropriate amount of heat and pressure using cutting-edge technology in a variety of colors, design patterns, and textures. One of the primary factors driving the growth of decorative laminates is the growing customer interest in acquiring products and raw materials to improve the appearance of their houses, as they can transform the appearance of homes and offices into a beautiful environment. The capacity to change people's thinking and offer ease through the introduction of individualized decorative laminates and at-ease houses is increasing demand from businesses wanting relief from workplace stress. Furthermore, the worldwide decorative laminates business suffered from a lack of raw materials, construction labor shortages, and a lack of transportation services.
Browse key industry insights spread across 230 pages with 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, Wall, 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 projected timeframe.
Based on the product, the decorative laminates market is divided into high pressure laminates and low pressure laminates. Among these, the high pressure laminates segment accounted for the largest revenue share of the decorative laminates market during the projected timeframe. High pressure laminates are in high demand because of their improved functional properties, which include scratch resistance, chemical resistance, and antimicrobial characteristics. High pressure laminate surfaces are perfect for meeting high sanitation and infection control requirements in hospital and laboratory settings due to their durability and simplicity of cleaning.
The furniture segment holds the highest market share of the decorative laminates market during the projected timeframe.
Based on the application, the decorative laminates market is categorized into furniture, flooring, wall, and others. Among these, the furniture segment holds the highest market share of the decorative laminates market during the projected timeframe. Owing to the continued growth in home remodeling operations and rising demand for interior design among consumers, merchants, 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 over the forecast period.
North America is expected to hold the largest share of the decorative laminates market over the forecast period. This is mostly due to market players expanding their operations to improve brand awareness and manufacturing capacity in response to rising client demand. For example, in March 2023, North American Specialty Laminations announced the acquisition of Diversified Manufacturing, a California-based decorative laminate manufacturer, in order to expand its market share.
Asia Pacific is predicted to grow at the fastest pace in the decorative laminates market during the projected timeframe. Due to the growing residential industry and increased disposable income in the region. The Asia Pacific market demand for decorative laminates is expected to be driven by rising spending on new construction activities in developing countries, both residential and non-residential
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key Vendors in the Global Decorative Laminates Market size 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 key companies.
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Recent Developments
- In July 2023, Century Laminates teamed with Manish Malhotra to create a new collection of designer laminates. With this move, the corporation is targeting a niche market with a price range of INR 5000 to INR 5500.
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
- Others
Global Decorative Laminates Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- 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 & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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