Decorative laminates market size

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Decorative Laminates Market Size, Share, Industry
Outlook Forecast 2016-2023
Decorative laminates market size is estimated to
surpass 12 billion square meters by 2023
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Global Market Scenario of Decorative Laminates
Industry

• Decorative laminates market size is estimated to
  surpass 12 billion square meters by 2023, growing
  at more than 5.5 CAGR from 2016 to 2023.
• Asia Pacific decorative laminates market size was
  the largest, and accounted for over 46 of the
  global revenue in 2015. China was the major
  producer of ready to assemble and laminated
  flooring, with more than 30 of the total demand
  in the same year. Increase in purchasing power
  coupled with growth in residential and non
  residential construction spending in Indonesia
  and India are likely to boost regional demand.
• As per the National Bureau of Statistics, Chinas
  urban households annual per capita disposable
  income was more than USD 4,400 in 2015. Indias
  annual disposable income was over 1,600 billion
  in 2015. Rise in disposable income is likely to
  positively influence customers to spend on home
  decor, furniture, and furnishings.

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• Europe is expected to witness significant growth
  owing to large presence of laminate flooring and
  furniture manufacturers. The UK government is
  estimated to invest around USD 80 billion for
  infrastructure development in the near future
  which is likely to propel regional decorative
  laminates market size.
• Rapid industrialization and increasing trend for
  customized and attractive interior in homes and
  offices is anticipated to fuel the North America
  decorative laminates demand. Middle East Africa
  (MEA) is likely to be an attractive region owing
  to expansion in hotels and real estate industry
  in South Africa and UAE.
• Decorative laminates is an attractive and safe
  way to keep the interior beautiful and to protect
  furniture from wear and tear, scratching, and
  fire risk. These products also help to increase
  the surfaces life span and provide them an
  eye-catching finish.
• In order to establish presence in various
  industries, it comes in wide range of designs,
  textures, and colors to serve different purposes.
  Tissue paper, kraft paper, base paper, methanol,
  melamine, formaldehyde, and phenol are some of
  the raw materials required to manufacture these
  products.

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Research Methodology
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Application and Competitive Insights

• Industries including hotels, hospitals, offices,
  shopping malls, airports and colleges are likely
  to fuel demand for flooring and wall panels owing
  to presence of variety of designs, textures and
  colors. Flooring and ready to assemble furniture
  production was dominated by China, due to
  expansion in manufacturing capacity and raw
  material availability.
• Increase in decorative interior demand from
  convention centers, gyms, and indoor sports clubs
  are likely to create room for new opportunities.
  Rising trend for better lifestyle and increasing
  interest in home interior and remodeling are
  anticipated to be among the key driving factors
  to drive demand.
• Decorative laminates market share is fragmented,
  key players include FunderMax, Formica, Kingboard
  Holdings, Kronospan Holdings, Ronotex, Armstrong
  World Industries, Advanced Technology, Roseburg
  Forest Products, SierraPine, Sekisui Chemical,
  Tarkett SA, Timber Products, Woodcraft
  Industries, Wilsonart International, and Omnova
  Solutions.

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Products Insights

• Products can be segmented into low-pressure (LPL)
  and high-pressure laminates (HPL). HPL is
  considered to be a more durable and tough product
  as it is derived from phenolic resin and kraft
  paper.
• It is preferred on countertops, flooring, and
  desktop applications owing to fire and chemical
  resistance properties. Increasing demand for
  sustainable and long-life flooring in the
  residential and institutional sector is likely to
  propel product demand.
• LPL, also known as thermo-fused melamine is
  recommended for vertical surfaces and low traffic
  areas application owing to medium density
  fiberboard substrate. Product demand is not high
  owing to limited finishes designs and short
  lifespan. However, less cost is likely to attract
  customers with low income and short-term interior
  purpose.

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