Albany NY, United States, May 16, 2022 (GLOBE NEWSWIRE) -- The value of the global decorative laminates market surpassed US$ 47.4 Bn in 2019 and the market is likely to rise at a CAGR of 6% during the forecast period, from 2020 to 2030. The decorative laminates market is estimated to surpass valuation of US$ 72.1 Bn by 2030. The global decorative laminates market is propelled by rising demand for decorative laminates in various flooring applications. In addition to that, rapid expansion of the global construction industry is further likely to add to the revenue of decorative laminates market. Decorative laminates guard against fire, scratches, and everyday wear and tear. These laminates come in a variety of styles, colors, and textures to fulfil the needs of a variety of applications in a wide range of end-use sectors. Residential and commercial areas are the key market segments in decorative laminates
Decorative laminates are typically utilized to enhance and protect the appearance of furniture. These laminates have a high-end look, feel, and finish. They are typically utilized in house interiors, meeting rooms, as well as walls. Ornamental laminates are pressure and heat fused sheets of brown Kraft papers and decorative printed papers. Due to their widespread use for flooring purposes, ornamental laminates have seen an increase in demand across the world. The global decorative laminates market is also being driven by the growing popularity of ready-to-assemble furniture in residential and workplace areas. The growth of the real estate business has a beneficial influence on market demand for decorative laminates.
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Decorative laminates are utilized in furniture, such as tables, beds, and sofas. They are also featured in bookshelf wall shelves, kitchen, and bathroom, as well as RTA furniture and modular cabinets. These laminates can also be utilized to accentuate walls. Textured ornamental laminates are often used on the ceilings. Such extensive uses are likely to create largest Opportunity for Decorative Laminates Market. Rise in consumer spending power and a growing inclination for improved esthetic value and ornamental home furnishings are expected to propel the global market.
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Key Findings of Market Report
- In the residential renovation and design business, laminate cabinets and countertops are gaining popularity. Companies of decorative laminates are boosting the availability of low-cost laminates so that clients are able to spend more on other necessary items for home improvement. As a result, manufacturers are becoming more conscious of high gloss, stone texture countertops, and matte finish laminates offering a contemporary appeal in residential settings.
- In order to take advantage of the rapidly increasing potential in India, decorative laminates manufacturers are expanding their production capacities in medium density fiber (MDF) boards, pre-laminated particle boards, and high-pressure laminates. Century Plywood India Ltd. (CPIL), for instance, is learning how to make Boiling Water Resistant (BWR) Decorative Veneers and Laminates.
- The decorative laminates market is projected to benefit from an increase in demand for ornamental interiors in indoor sports clubs, gymnasiums, and conference centers. The global decorative laminates market is expected to be driven by a desire for an improved lifestyle and an increase in interest in house interior and renovation.
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Global Decorative Laminates Market: Growth Drivers
- In offices and various commercial spaces, producers are diversifying their revenue streams. In Indian office areas, advanced 1mm laminates are getting more and more popular as they provide a calm and relaxing environment. In high-traffic areas, such as workplaces, customers choose zero-finish laminates.
- In comparison with laminates, veneers demand significantly higher maintenance. For players in the decorative laminates market, such benefits translate into commercial potential. Waterproof and scratch-resistant laminates are becoming more widely available.
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Global Decorative Laminates Market: Key Competitors
- Shandong Longxing Plastic Film Company
- Maschinenfabrik Bernard KRONE GmbH
- BSK & Lakufol Kunststoffe GmbH
- GABRIEL-CHEMIE GROUP
- Joachim Behrens Scheessel Gmbh
- Exxon Mobil Corporation
Global Decorative Laminates Market: Segmentation
Product
- High Pressure Laminates
- Low Pressure Laminates
Application
- Flooring
- Doors
- Walls
- Furniture
- Others
End User
- Commercial
- Residential
- Automotive
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