Decorative Laminates Market Trends and Forecasts to 2024: Hexa Research

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Decorative Laminates Market Share, Size, Analysis, Growth,
Trends and Forecasts to 2024 | Hexa Research
" The Global Decorative Laminates Market size may
exceed 12 billion meter squares by 2024, growing at a
CAGR above 5.5% during the forecast period."
The global Decorative Laminates Market size is anticipated to exceed 12 billion square meters by 2024. It
can register a CAGR above 5.5% from 2016 to 2024 (forecast period). Decorative laminates not only provide a
beautiful finish to surfaces but also enhance their lifespan. Consumers are exposed to a broad range of
decorative laminates nowadays. They are available in various designs, textures, and colors. They protect
furniture surfaces from wear & tear, fire, and scratches. Melamine, phenol, formaldehyde, methanol, kraft
paper, and base paper among others are some of the main raw materials used in the manufacture of these
Demand is driven by low installation costs and low maintenance costs. Consumers these days show greater
preference for decorative laminates over wooden floorings. Also, rising income levels coupled with the trend
of home renovations & interior decoration can propel the global Decorative Laminates Market in the
forthcoming years. The trend of designer interiors in indoor sports clubs, gyms, and convention centers could
create opportunities for further growth. Stiff competition and the availability of affordable substitutes can
hamper overall demand for decorative laminates.
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Products, applications, and regions are the three main factors based on which the worldwide decorative
laminates industry is segmented. On the basis of products, the industry is fragmented into HPL (high pressure
laminates), LPL (low pressure laminates), and edgebanding. Unlike, HPL, LPL have shorter lifespan. This is
because high pressure laminates are made of phenolic resin and kraft paper which makes them durable and
quite strong. HPL are mainly used for floorings, desktops, and countertops. Since low pressure la minates are
quite affordable, they are usually purchased by the lower income groups.
Based on applications, the worldwide Decorative Laminates Market is categorized into flooring, furniture,
cabinets, and wall panels. The highest share in the overall industry is held by the furniture & cabinets
segment. The popularity of ready-to-fix furniture for residential & commercial applications is expected to
drive the market in the years to come. Demand for wall panels & floorings from end users, such as shopping
malls, colleges, airports, offices, hotels, and hospitals, is projected to rise substantially.
As per regions, the global decorative laminates market is segmented into Asia Pacific, Europe, North America,
and the Middle East & Africa. The overall market was led by Asia Pacific in 2015. Surging income levels &
standards of living in countries, such as China and India are factors that drive this regional market. High
expenditure on non residential & residential construction in Indonesia and India may augment the Asia
Pacific market in the forecast period.
High concentration of laminate furniture & flooring manufacturers in Europe is a key factor that is expected
to fuel the Europe market from 2016 to 2024. High investments by the U.K. government in infrastruc ture can
fuel regional demand. Another noteworthy factor that fuels the North America market is rapid
industrialization. The prospering real estate & hotel industries in the UAE and in South Africa may make the
MEA a very lucrative market during the forecast period. Companies in the global decorative laminates
industry are Wilsonart International, Kronospan Holdings, Kingboard Holdings, Armstrong World Industries,
and FunderMax.
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Table of Content of Decorative Laminates Market
Table of Content
1. Methodology & Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
2. Executive Summary
2.1 Industry Summary of Decorative Laminates Market
3. Industry Outlook
3.1 Decorative Laminates Market Segmentation
3.2 Decorative Laminates Market Size and Growth Prospects
3.3 Decorative Laminates Market Dynamics
3.4 Key Opportunities Prioritized
3.5 Industry Analysis - Porter's
3.6 Market Share Analysis
3.7 Market PESTEL Analysis, 2016
4. Application Framework
4.1 Decorative Laminates Market share by application, 2016 & 2024
5. Regional Outlook
5.1 North America
5.2 Europe
5.3 Asia Pacific
5.4 Latin America
5.5 MEA (Middle East and Africa)
5.6 RoW (Rest of the World)
6. Competitive Landscape
6.1 Wilsonart International
6.1.1 Company Overview
6.1.2 Revenue Analysis
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6.1.3 Product Benchmarking
6.1.4 Strategic Initiatives
6.2 Kronospan Holdings
6.2.1 Company Overview
6.2.2 Revenue Analysis
6.2.3 Product Benchmarking
6.2.4 Strategic Initiatives
6.3 Kingboard Holdings
6.3.1 Company Overview
6.3.2 Revenue Analysis
6.3.3 Product Benchmarking
6.3.4 Strategic Initiatives
6.4 Armstrong World Industries
6.4.1 Company Overview
6.4.2 Revenue Analysis
6.4.3 Product Benchmarking
6.4.4 Strategic Initiatives
6.5 FunderMax
6.5.1 Company Overview
6.5.2 Revenue Analysis
6.5.3 Product Benchmarking
6.5.4 Strategic Initiatives
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The global Decorative Laminates Market is projected to expand at a CAGR above 5.5% during the forecast period (2016 to 2024).