Global Decorative Laminates Market – Overview
The market potential for Decorative Laminates Market has developed rapidly in the past few years to an excellent level. Market Research Future which concentrates on market reports associated to the construction sector amongst others lately published a report on this industry. The Decorative laminates market industry is projected to grow from USD 45.55 Billion in 2023 to USD 71.10 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.72% during the forecast period (2023 - 2030).
Laminates are considered a cost-effective option in terms of interior decoration as they are relatively easy to use and are available in a large range of varieties. Growing levels of investment in real estate have subsequently fuelled the growth in the construction sector. This trend has been extremely conducive to the growth of the industry for decorative laminates. Ever-changing consumer interests have led to the development of diverse product varieties in the market. Accelerated pace of research and development activities have led to the improvement of product quality and integration of new technology process in the products.
The market for decorative laminates is divided into certain categories. On the basis of material, the category includes vinyl, plastic, paper and others. The product segment includes low pressure laminates, high pressure laminates, and edgebanding. The application category includes non-residential construction and residential construction
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Detailed Regional Analysis
The geographical spread of the Decorative Laminates Market includes Europe,Latin America, Asia Pacific, North America, and the Middle East & Africa The market is growing rapidly on the global stage owing to the factors such as bigger construction activities. The APAC region is anticipated to continue its lead as the major market owing to the development in the construction industry and shifting lifestyle trends along with the inclination of the people. The growth in population levels as well as fluctuating preferences in terms of interior decoration in this region offer an enormous potential for infrastructure development.
Global Competitive Analysis
The competition in the Decorative Laminates Market Growth Forecast is increasing dramatically because of the companies trying to consolidate their market share to a considerable size. Through useful employment of their chief resources, growth changes can be initiated. The positive growth attitude in the market has enabled trends which will positively lead to the development of the market and are markedly volume driven. An improvement in product forms and the sector’s substantial revolution owing to the fast growth pace has led to utilization of many plus points. The industry’s long term growth can be ensured by constantly ensuring continuing process developments and supporting financial fluidity to expend on the best strategies when they are available.
The foremost players operational in the market are Kronospan Holdings Limited (Austria), Kingboard Laminates Holdings Limited (Hong Kong), Advanced Technology Inc. (U.S.), FunderMax (Austria) and ronotex GmbH & Co. (U.S.) to name a few of the companies in the segment.
Feb 2018 ATI Decorative Laminates have recently introduced more features and technology to their light-emitting and multi – layered laminate. The product called LumiSplash is one of the first ultra-thin and lighted laminates system and has no air gap required for LEDs.
Dec 2017 ITC Ltd. is investing Rs 200 crore to boost the capability of its manufacturing facility for decorative paper in West Bengal. The investment is expected to boost the capacity for the manufacturing of specialized decorative paper for laminates in the factory. ITC has been in the industry for décor paper for a relatively long period of time and is now spending on this advanced technology for extending the décor paper production capability to develop its value.
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