Decorative Laminates Market Forecasts to 2028 – Global Analysis By Type (General Purpose, Special Products, Backer and Post forming), Product Type (High Pressure Laminates, Low Pressure Laminates and Other Product Types), Resin Material (Phenolic, Melamin

Decorative Laminates Market Forecasts to 2028 – Global Analysis By Type (General Purpose, Special Products, Backer and Post forming), Product Type (High Pressure Laminates, Low Pressure Laminates and Other Product Types), Resin Material (Phenolic, Melamine, Polyester, Silicone and Other Resin Materials), By Raw Material (Plastic resins, Overlays, Adhesives and Wood substrate), Application (Wall Panel, Flooring, Furniture and Cabinets and Other Applications), End User (Residential, Commercial, Transportation and Automotive) and Geography

According to Stratistics MRC, the Global Decorative Laminates Market is accounted for $8.40 billion in 2022 and is expected to reach $11.59 billion by 2028 growing at a CAGR of 5.5% during the forecast period. Decorative laminates are laminated sheets that have been expressly created for use as wall panelling, flooring, or surface materials for furniture. Brown kraft papers are combined with beautiful printed patterns to create the laminates under pressure and heat. Due to their strength, affordability, long shelf-life, and enhanced aesthetic value, decorative laminates are favoured over veneers, paints, and coatings. They are primarily utilised for furnishing and safeguarding flooring, cabinets, walls, and other items.

According to an article by World Paper Mill Organization, the global Kraft Paper market will grow from US$ 15.6 billion in 2019 to around US$ 19 billion in 2025. Thus, due to an increase in the growth of the kraft paper for the production of high-pressure laminates, there will be increased growth of the decorative laminates market in the forecast period.

Market Dynamics:

Driver:

Growing population and increasing awareness of hygiene among consumers

The global market for decorative laminates is currently expanding as a result of a number of factors, including the expanding population, rising hygiene awareness among consumers, value addition, and rising demand from emerging economies. Use of bar soap is rising, mainly among those who work in hazardous environments including factories, mines, and construction sites. The market for decorative laminates has been a major contributor to market expansion because of customers' rising disposable income and increased emphasis on maintaining good cleanliness. The robust performance of bar soap and the incorporation of skin-improving and moisturising advantages are the main factors influencing the overall development of the decorative laminates market.

Restraint:

Volatile raw material prices and artificial look of laminates

The expansion of the market is anticipated to be hampered by the fluctuation in the price of the raw materials used to make laminates. Due to their high pH, decorative laminates can result in dry, parched skin. Moreover, laminates' artificial appearance is affecting product sales. Therefore, businesses should raise awareness about laminates that are resistant to heat, water, and scratches, which mitigate their drawbacks.

Opportunity:

Increasing global demand for bakery products

The demand for baked goods and bakery products is rising in the modern world. For many consumers in Europe, North America, and South America, white bread is a staple food. White bread consumption is also increasing in the Middle East and Asia-Pacific region. The middle class' adoption of a contemporary lifestyle has boosted demand for high-end bakery goods like cakes, pies, cookies, and pizza. The demand for bread is also rising as a result of other fast-food dishes like burgers and sandwiches. Such factors are fueling the segment's growth.

Threat:

Availability of Substitutes such as large format printing

Large-format inkjet printing is growing more popular and is currently taking the place of decorative laminates. This is due to the possibility of cracking with ornamental laminates. This is because they expand and contract as a result of variations in the weather and moisture levels, which causes cracks in the laminate. Large format printing is available in a wide selection of designs and is essentially identical to decorative laminates. In contrast to decorative laminates, big format printing does not require the use of specific adhesives like resins, making it more affordable. Such occurrences are restricting market expansion.

Covid-19 Impact:

Due to shutdown caused by the COVID-19 epidemic, the production of several ornamental laminate components had been stopped. Residential and business consumers first cut back on their expenditure on a variety of decorative laminate applications as a result of the economic recession. The development in the culture of working from home, however, had a favourable impact on the demand for domestic furnishings when the initial lockdowns were lifted.

The Phenolic segment is expected to be the largest during the forecast period

During the forecast period, phenolic segment is anticipated to hold the highest market share. When making decorative laminates, phenolic resins are utilised to saturate the kraft paper. As a result of major phenol-producing enterprises increasing their production capacity, phenol resin production will rise. In addition, the phenolic resin used in decorative laminates serves as a superior adhesive for decorative laminates used as edge binding on cabinets, table tops, and other surfaces. As a result, phenolic resin will be used more frequently in the creation of decorative laminates due to increasing phenolic resin production.

The Wall panel segment is expected to have the highest CAGR during the forecast period

Wall panel is expected to witness lucrative growth during the forecast period. Because decorative laminates draw attention to the walls and add aesthetic appeal, they are frequently used in wall panels, particularly in residential construction. For wall panels, businesses have developed a wide range of decorative laminates. Additionally, the demand for wall panels will rise due to residential development projects that aim to give the interiors of housing infrastructures an appealing appearance.

Region with largest share:

Due to the rise in residential construction projects, Asia Pacific holds the largest share throughout the forecast period. It is expected that rising home construction initiatives and plans in nations like China, India, Singapore, and others will increase demand for wall panels, cabinets, tabletops, and other items. In these nations, a number of government initiatives encourage residential building. As a result, there will be a rise in the need for wooden table tops, cabinets, and wall panels, which will enhance the demand for decorative laminates in Asia Pacific region.

Region with highest CAGR:

Asia-Pacific is expected to register lucrative growth in the global decorative laminates market. The area profits from its industry-leading status in the production of composite wood, particularly particleboard and medium-density fiberboard (MDF), which are frequently coated with a laminate layer during production. One of the world's biggest producers of (Ready-to-assemble) RTA furniture and floor laminates is China. In addition, China's laminate board production capacity is also growing quickly. In terms of laminate demand, India leads the way. Such aspects fuel the market in this region.

Key players in the market

Some of the key players in Decorative Laminates market include Abet Laminati S.p.A., Advanced Technology, Inc., Archidply Industries Limited, Arpa Industriale S.p.A., ATI Decorative Laminates, Fletcher Building Limited, FunderMax Gmbh, Greenlam Industries Ltd, Laminex Group Pty Limited, Merino Industries Limited, Omnova Solutions Inc., Panolam Industries International, Inc., Stylam Industries Ltd, Uniboard Canada, Inc., Wilsonart International Inc and Witex Flooring Products GmbH.

Key Developments:

October 2021, Wilsonart expanded its capacity by opening a new facility in Klamath Falls, Oregon, to dilate its TFL (Thermally Fused Laminate) capacity and footprint in North America. The Oregon facility will aid in the expansion of KML and Wilsonart branded TFL products, including The LUJOTM Collection. This has helped to increase production capability on the West Coast.

In February 2022, Panolam partnered with Specialty Laminates as a supplier partner for thermally fused laminate (TFL) product lines. With the addition of Specialty Laminates, Panolam offers customers a more robust inventory and distribution channel than ever before. This partnership expands growing texture TFL programs create a larger value-added footprint in the growing TFL market in North America.

Types Covered:
• General Purpose
• Special Products
• Backer
• Post forming

Products Covered:
• High Pressure Laminates
• Low Pressure Laminates
• Other Product Types

Resin Materials Covered:
• Phenolic
• Melamine
• Polyester
• Silicone
• Other Resin Materials

Raw Materials Covered:
• Plastic resins
• Overlays
• Adhesives
• Wood substrate

Applications Covered:
• Wall Panel
• Flooring
• Furniture and Cabinets
• Other Applications

End Users Covered:
• Residential
• Commercial
• Transportation
• Automotive

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements