Global Decorative Laminates Market to Reach US$ 62.9 Billion by 2032, Impelled by Rising Infrastructural Development Projects

January 21, 2022 | Chemical & Materials

According to the latest report by IMARC Group, titled "Decorative Laminates Market Report by Product Type (High Pressure Laminates, Low Pressure Laminates), Application (Furniture and Cabinets, Flooring, Wall Panels, and Others), End-Use (Non-Residential, Residential, Transportation), Texture (Matte/Suede, Glossy), Pricing (Premium, Mass), Sector (Organised, Unorganised), and Region 2024-2032," the global decorative laminates market reached a value of US$ 46.2 Billion in 2023. Decorative laminates are generally manufactured using thin layers of plastic resins or flat papers. They usually consist of three layers, wherein the first layer is coated with phenolic resin, the second layer of paper is decorated with desired patterns and the third layer comprises a transparent sheet. As a result, they are extensively used for wall paneling, furniture surface and flooring purposes. Along with this, they are also utilized as a preferred alternative for paint and veneer since they are durable and convenient to use with a longer shelf-life while enhancing the overall aesthetics of a given space in a cost-efficient manner.

Global Decorative Laminates Market Trends:

The global market is primarily driven by significant growth in the construction industry. This is supported by rising investments by private and public firms in infrastructural development and remodeling projects across the globe. Along with this, shifting lifestyle preferences, coupled with the inflating disposable income levels of the masses, are creating a positive outlook for the market. In line with this, the increasing inclination for aesthetic home décors among individuals is also driving the market growth. Moreover, leading players are heavily investing in the manufacturing of antibacterial laminate variants using melamine resin formulation, which is gaining widespread prominence among end users. Additionally, continuous improvements in the e-commerce sector are providing an impetus to the market growth. Other factors, including rapid urbanization and the escalating demand for ready-to-assemble (RTA) and designer laminated sheets, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 62.9 Billion by 2032, expanding at a CAGR of 3.4% during 2024-2032.

Market Summary: 

  • On the basis of the product type, the market has been bifurcated into high-pressure and low-pressure laminates.
  • Based on the application, the market has been segmented into furniture and cabinets, flooring, wall panels and others.
  • On the basis of the end-use, the market has been classified into non-residential, residential and transportation.
  • Based on the texture, the market has been categorized into matte/suede and glossy.
  • On the basis of the pricing, the market has been segregated into premium and mass.
  • Based on the sector, the market has been bifurcated into organized and unorganized.
  • On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru and others) and the Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates and others).
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of the key players include Abet Laminati S.p.A, Archidply, Century Laminates, Fletcher Building, FunderMax Gmbh, Greenlam Industries Limited, Merino Laminates Ltd., Omnova Solutions Inc., Panolam Industries International, Inc., Stylam Pvt. Ltd. and Wilsonart LLC.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product Type, Application, End-Use, Texture, Pricing, Sector, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates
Companies Covered Abet Laminati S.p.A, Archidply, Century Laminates, Fletcher Building, FunderMax Gmbh, Greenlam Industries Limited, Merino Laminates Ltd., Omnova Solutions Inc., Panolam Industries International, Inc., Stylam Pvt. Ltd. and Wilsonart LLC
Customization Scope 10% Free Customization
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Global Decorative Laminates Market to Reach US$ 62.9 Billion by 2032, Impelled by Rising Infrastructural Development Projects
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