The latest report by IMARC Group, titled “India Decorative Laminates Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the India decorative laminates market size reached US$ 1.7 Billion in 2022. Decorative laminates are specially designed sheets that are utilized as furniture surface materials, flooring, and wall paneling. They are produced by blending brown kraft paper with decorative printed patterns under pressure and heat. They are durable, cost-effective, stain-, scratch-, and heat-resistant, and do not fade when exposed to the sunlight. Owing to these properties, decorative laminates are widely utilized in hotels, hospitals, shopping malls, airports, educational institutions, and commercial infrastructures across India.
India Decorative Laminates Market Trends:
The market is primarily driven by the rising expenditure on home décor products. This can be attributed to the inflating income levels and improving living standards of individuals in India. In addition, the emergence of ready-to-assemble (RTA) floorings, furniture, and cabinets have encouraged consumers to spend on modern home furnishing designs, representing another major growth-inducing factor. Besides this, the developing commercial infrastructure across the country has escalated the demand for decorative interior products in commercial spaces such as gymnasiums, convention centers, indoor sports clubs, malls, offices, and auditoriums. This, coupled with the implementation of favorable government initiatives to develop the residential sector, is also contributing to the market growth. For instance, the Government of India has launched the “Housing for All” scheme under which it has planned to provide houses for underprivileged people, which is escalating the demand for emulsion paints, thus, propelling the market growth. Looking forward, IMARC Group expects the market to reach a value of US$ 2.4 Billion by 2028, exhibiting a CAGR of 5.8% during the forecast period (2023-2028).
- Based on the product type, the market has been bifurcated into high-pressure and low-pressure laminates.
- On the basis of the application, the market has been classified into furniture and cabinets, flooring, wall panels, and others.
- Based on the end use, the market has been categorized into non-residential, residential, and transportation.
- On the basis of the texture, the market has been segregated into matte/suede and glossy.
- Based on the pricing, the market has been segmented into mass and premium.
- On the basis of the sector, the market has been classified into organized and unorganized.
- On the geographical front, the market has been divided into North India, West and Central India, South India, and East India.
- The competitive landscape of the market has been examined in the report, along with the detailed profiles of the key players operating in the industry.
|Base Year of the Analysis
||Product Type, Application, End Use, Texture, Pricing, Sector, Region
||North India, West and Central India, South India, East India
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