Global Decorative Laminates Market Overview, 2024-29
The Global Decorative Laminates Market is segmented into By Application (Flooring, Furniture & Cabinets and Wall Panels), By Product (Low-pressure Laminates and High-pressure Laminates), By Texture (Glossy and Matte/Suede) and By End User (Residential and Commercial).
- Bonafide Research
- 31-03-2024
- Pages : 90
- Figures : 18
- Tables : 29
- Region : Global
- Category : Manufacturing & Industry
- Construction & Building Materials
The Global Decorative laminates market is anticipated to cross USD 70 Billion by 2029 due to interior design trends driving market growth.
- Historical Period2018-2022
- Base Year2023
- Forecast Period2024-2029
- Market Size (2023) USD 53.71 Billion
- Market Size (2029) USD 70 Billion
- CAGR (2024-2029) 5.79%
- Largest Market Asia-Pacific
- Fastest Market Asia-Pacific
- Format
Featured Companies
- 1. Mohawk Industries Inc.
- 2. Tarkett S.A.
- 3. Steelcase Inc.
- 4. Century Plyboards Ltd.
- 5. Kronospan
- 6. Fritz EGGER
- 7. Greenlam Industries Ltd
- 8. OMNOVA Solutions Inc.
- 9. Formica Group
- More...
Decorative Laminates Market Market Analysis
The market expansion for decorative laminates is primarily being driven by expanding consumer living standards, which are further supported by increased per capita expenditure on home decor. This is consistent with the growing trend of visually appealing designs in corporate office spaces and home interiors, which is driving up demand for the products. Recently, there has been a noticeable increase in the market for ready-to-assemble (RTA) cabinets, furniture, and flooring; as a result, there is a growing global need for decorative laminates. The broad range of designs, colors, textures, and other options available for decorative laminates has also led to an increase in demand for these materials in hotels, hospitals, retail centers, airports, educational institutions, and other commercial infrastructure. Apart from this, the rapid utilization of decorative interior products in gymnasiums, convention centers, indoor sports clubs, auditoriums, etc. further fuels market growth. Moreover, several refurbishment and remodelling activities in the residential and commercial sectors of the developed regions have further propelled the demand for decorative laminates. The global decorative laminates market is a major force behind the development of global interior design trends and architectural landscapes, occupying a space at the crossroads of innovation, functionality, and aesthetics. Decorative laminates, multipurpose surfacing materials made of paper or resin layers bonded together, are now essential components of commercial, residential, and institutional spaces because of their many advantages, which include affordability, sustainability, and design flexibility in addition to durability. The decorative laminates business is experiencing dynamic expansion due to a combination of macroeconomic factors, technological advancements, and increasing customer preferences, all against the backdrop of a fast-evolving global marketplace. The increasing trend of urbanization and population concentration in urban areas has led to a surge in demand for sophisticated and visually pleasing interior spaces, which in turn has accelerated the adoption of decorative laminates across diverse sectors. According to the research report, “Global Decorative Laminates Market Overview, 2024-2029” published by Bonafide Research, the market is anticipated to cross USD 70 Billion by 2029, increasing from USD 53.71 Billion in 2023. The market is expected to grow with 5.79% CAGR by 2024-29. The market for decorative laminates in North America is supported by a booming furniture sector, a booming building sector, and a growing trend toward low-maintenance, reasonably priced interior design options. To appeal to consumers who care about the environment, manufacturers are introducing items manufactured from recycled materials and employing ecologically friendly production processes, with an emphasis on sustainability and eco-friendly components. The constant innovation in design within the worldwide decorative laminate market is an intriguing feature. By utilizing cutting-edge printing technologies, producers are able to produce laminates that remarkably replicate the look of real materials like stone, metal, and wood. Decorative laminates are becoming more and more popular in both residential and commercial applications because of this breakthrough, which enables consumers to replicate the look and feel of luxury materials at a fraction of the cost. The increasing desires for visually pleasing interiors, rising disposable incomes, and urbanization have all contributed to the market's steady expansion in recent years for decorative laminates worldwide. Emerging markets in Latin America, the Middle East and Africa, and Asia-Pacific are growing at particularly strong rates due to increased infrastructure and urbanization. As customers want distinctive and customized interior solutions, personalization and customization are becoming more and more significant in the decorative laminate market. In order to accommodate personal preferences and design aesthetics, manufacturers are providing customization choices, such as bespoke colors, patterns, textures, and finishes. Customers may express their creativity and build rooms that represent their lifestyle and personality thanks to the customization trend.
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Download SampleMarket Dynamic
Market Drivers • Urbanization and population growth: Rapid urbanization and population growth in emerging economies are driving the demand for construction activities, infrastructure development, and residential housing. As more people migrate to urban areas, there is an increasing need for interior design solutions, including decorative laminates, to furnish homes, commercial spaces, and public buildings. • Preference for cost-effective materials: Decorative laminates are very appealing to customers looking for reasonably priced, fashionable, and useful interior solutions since they provide a practical substitute for natural materials like metal, wood, and stone. In both residential and commercial applications, laminates are becoming more and more popular because of their affordability, particularly in projects where funds are limited. Market Challenges • Price volatility: Fluctuations in raw material prices, such as paper, resin, and chemicals, can impact the manufacturing costs of decorative laminates. Manufacturers may struggle to maintain profitability during periods of price volatility, leading to uncertainty in pricing for consumers and challenges in cost management for industry players. • Competition from substitutes: Decorative laminates face competition from alternative surfacing materials, including natural materials such as wood, stone, and metal, as well as engineered products like engineered wood and ceramic tiles. These substitutes offer different aesthetic qualities, performance characteristics, and price points, posing a challenge to the market share of decorative laminates. Market Trends • Sustainability focus: The decorative laminates market has witnessed a significant shift towards sustainability due to heightened consumer awareness of environmental issues and regulatory restrictions. In an effort to reduce their negative effects on the environment, manufacturers are embracing sustainable production methods and eco-friendly products like recycled paper and renewable polymers. Furthermore, certifications such as the Forest Stewardship Council (FSC) and GreenGuard have emerged as significant indicators of sustainability that impact consumer choices and purchasing behavior. • Digital printing technology: The market for decorative laminates has changed dramatically as a result of technological advancements in digital printing, which allow producers to produce incredibly lifelike patterns, textures, and designs. Unmatched customization possibilities are provided by digital printing, which enables realistic copies of natural materials like marble, stone, and wood, as well as complex patterns and vivid colors. The market is expanding as a result of the digital printing trend, which has stimulated product design innovation and improved decorative laminates' visual attractiveness.
Decorative Laminates Market Segmentation
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Europe | Germany | |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Russia | ||
| Asia-Pacific | China | |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| South America | Brazil | |
| Argentina | ||
| Colombia | ||
| MEA | United Arab Emirates | |
| Saudi Arabia | ||
| South Africa |
Based on product segment market includes low-pressure laminates, and high-pressure laminates. High-pressure laminates product segment is expected to lead the global decorative laminates market. In terms of texture segment market is segmented into glossy and matte/ suede. Matte/ suede texture is projected to lead the global decorative laminates market. High-pressure laminates are renowned for being strong and resilient to abrasion. They are made by compressing many layers of resin-impregnated kraft paper at high pressure and temperature. This method produces a material that is resilient to wear and tear and can be used for a variety of purposes, such as wall panels, countertops, flooring, and furniture surfaces. High-pressure laminates offer a wide range of patterns, colors, textures, and designs, providing designers with a multitude of creative alternatives. Because of this, architects, interior designers, and homeowners wishing to personalize their homes find them to be quite enticing. HPL can replicate the appearance of natural materials like metal, stone, and wood, offering aesthetic appeal without the expense or upkeep of the genuine thing. Suitcases or matte textures give surfaces a chic, modern appearance. They offer a gentle, non-reflective sheen that gives interior areas depth and coziness, which makes them very desirable to designers and clients looking for a simple, modern look. The demand for decorative laminates is mostly driven by consumer preferences for interior design trends. The trend toward natural materials and minimalism has led to a rise in the popularity of suede and matte textures in recent years. Their delicate, tactile feel gives spaces an air of comfort and luxury, which is in line with the tastes of many customers who like understated elegance. Matte and suede textures complement a wide range of design styles, from contemporary to traditional. They can be used in various applications, including furniture surfaces, cabinetry, countertops, wall panels, and flooring, providing designers and architects with flexibility in creating cohesive and visually appealing spaces. Based on application segment market is divided into flooring, furniture & cabinets and wall panels. Furniture and cabinets application is expected to dominate the global decorative laminates market. In terms of end user segment market includes residential and commercial. Residential are expected to remain major end user in global decorative laminates market. Vast arrays of design possibilities are available with decorative laminates, including different hues, patterns, textures, and finishes. Because of its adaptability, cabinetry and furniture may be made to order in a variety of traditional and modern styles to meet the likes and preferences of designers and manufacturers. A popular kind of ornamental laminate used in cabinets and furniture, high-pressure laminates (HPL) are renowned for their toughness and resilience against deterioration. They are perfect for high-traffic areas like tabletops, countertops, and cabinet doors because they can resist daily wear and tear, impact, scratches, and stains. Decorative laminates just need to be cleaned on a regular basis with a moist cloth and a light detergent, making maintenance simple. This low-maintenance requirement is particularly beneficial for furniture and cabinets in kitchens, bathrooms, and other high-traffic areas where cleanliness is essential. An inexpensive substitute for natural materials like metal, stone, or wood is decorative laminate. They are especially appealing to homeowners who wish to obtain a high-end look without having to pay the exorbitant cost of real materials because of their affordability. Decorative laminates are useful for a variety of things in the house, such as wall panels, flooring, furniture, kitchen counters, and cabinetry. Their adaptability enables homeowners to produce coherent design schemes and a consistent aesthetic throughout the house's many rooms. Many decorative laminates are made to be easily installed, so do-it-yourself enthusiasts who wish to work on home renovation projects can use them. Installing decorative laminates on surfaces like countertops, backsplashes, and accent walls may be done by homeowners with the right tools and instructions, which will save installation expenses and add a personal touch to their living spaces.
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Decorative Laminates Market Market Regional Insights
Based on report market includes four major regions North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Asia-Pacific region is expected to grow at grow at fastest rate in global decorative laminates market. The decorative laminate industry is booming in the Asia-Pacific region, which exhibits a dynamic blend of technological innovation, cultural diversity, and economic growth. Asia-Pacific is a significant player in the global laminate market because of a number of factors affecting its business environment. The growing economies of Asia-Pacific are fueled by increased industrialization, infrastructural development, and urbanization. This includes the decorative laminates industry. At the forefront of this economic boom are nations like China, India, Japan, and South Korea, where consumer spending, interior design trends, and construction activity have all expanded rapidly. Decorative laminates are becoming more and more popular in the residential, commercial, and institutional sectors as a result of the growing middle-class population's increased disposable income and desire for elegant, aesthetically pleasing interiors. In Asia-Pacific, cultural considerations are a major determinant of the market for ornamental laminates. The usage of laminates in interior décor is influenced by the unique cultural legacies, architectural styles, and design preferences of each country in the region. Laminates find uses that embrace global design trends while connecting with local sensitivities, from the minimalist elegance of Japanese design to the sumptuous beauty of traditional Chinese buildings. Because of the diversity of cultures present in the market, laminate manufacturers are able to innovate and be creative, which results in a wide range of distinctive finishes, textures, and designs that cater to the particular preferences of Asian customers.
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Companies Mentioned
- Mohawk Industries Inc.
- Tarkett S.A.
- Steelcase Inc.
- Century Plyboards Ltd.
- Kronospan
- Fritz EGGER
- Greenlam Industries Ltd
- OMNOVA Solutions Inc.
- Formica Group
- Archidply Industries Ltd.
Table of Contents
- 1. Executive Summary
- 2. Market Dynamics
- 2.1. Market Drivers & Opportunities
- 2.2. Market Restraints & Challenges
- 2.3. Market Trends
- 2.3.1. XXXX
- 2.3.2. XXXX
- 2.3.3. XXXX
- 2.3.4. XXXX
- 2.3.5. XXXX
- 2.4. Covid-19 Effect
- 2.5. Supply chain Analysis
- 2.6. Policy & Regulatory Framework
- 2.7. Industry Experts Views
- 3. Research Methodology
- 3.1. Secondary Research
- 3.2. Primary Data Collection
- 3.3. Market Formation & Validation
- 3.4. Report Writing, Quality Check & Delivery
- 4. Market Structure
- 4.1. Market Considerate
- 4.2. Assumptions
- 4.3. Limitations
- 4.4. Abbreviations
- 4.5. Sources
- 4.6. Definitions
- 5. Economic /Demographic Snapshot
- 6. Global Decorative Laminates Market Outlook
- 6.1. Market Size By Value
- 6.2. Market Share By Region
- 6.3. Market Size and Forecast, By Product
- 6.4. Market Size and Forecast, By Texture
- 6.5. Market Size and Forecast, By Application
- 6.6. Market Size and Forecast, By End User
- 7. North America Decorative Laminates Market Outlook
- 7.1. Market Size By Value
- 7.2. Market Share By Country
- 7.3. Market Size and Forecast, By Product
- 7.4. Market Size and Forecast, By Texture
- 7.5. Market Size and Forecast, By Application
- 7.6. Market Size and Forecast, By End User
- 8. Europe Decorative Laminates Market Outlook
- 8.1. Market Size By Value
- 8.2. Market Share By Country
- 8.3. Market Size and Forecast, By Product
- 8.4. Market Size and Forecast, By Texture
- 8.5. Market Size and Forecast, By Application
- 8.6. Market Size and Forecast, By End User
- 9. Asia-Pacific Decorative Laminates Market Outlook
- 9.1. Market Size By Value
- 9.2. Market Share By Country
- 9.3. Market Size and Forecast, By Product
- 9.4. Market Size and Forecast, By Texture
- 9.5. Market Size and Forecast, By Application
- 9.6. Market Size and Forecast, By End User
- 10. South America Decorative Laminates Market Outlook
- 10.1. Market Size By Value
- 10.2. Market Share By Country
- 10.3. Market Size and Forecast, By Product
- 10.4. Market Size and Forecast, By Texture
- 10.5. Market Size and Forecast, By Application
- 10.6. Market Size and Forecast, By End User
- 11. Middle East & Africa Decorative Laminates Market Outlook
- 11.1. Market Size By Value
- 11.2. Market Share By Country
- 11.3. Market Size and Forecast, By Product
- 11.4. Market Size and Forecast, By Texture
- 11.5. Market Size and Forecast, By Application
- 11.6. Market Size and Forecast, By End User
- 12. Competitive Landscape
- 12.1. Competitive Dashboard
- 12.2. Business Strategies Adopted by Key Players
- 12.3. Key Players Market Share Insights and Analysis, 2022
- 12.4. Key Players Market Positioning Matrix
- 12.5. Porter's Five Forces
- 12.6. Company Profile
- 12.6.1. Greenlam Industries Limited
- 12.6.1.1. Company Snapshot
- 12.6.1.2. Company Overview
- 12.6.1.3. Financial Highlights
- 12.6.1.4. Geographic Insights
- 12.6.1.5. Business Segment & Performance
- 12.6.1.6. Product Portfolio
- 12.6.1.7. Key Executives
- 12.6.1.8. Strategic Moves & Developments
- 12.6.2. OMNOVA Solutions Inc.
- 12.6.3. Formica Group
- 12.6.4. Fritz EGGER
- 12.6.5. Archidply Industries Ltd.
- 12.6.6. Kronospan
- 12.6.7. Century Plyboards Ltd
- 12.6.8. Steelcase Inc
- 12.6.9. Mohawk Industries
- 12.6.10. Tarkett S.A
- 13. Strategic Recommendations
- 14. Annexure
- 14.1. FAQ`s
- 14.2. Notes
- 14.3. Related Reports
- 15. Disclaimer
Table 2: Influencing Factors for Decorative Laminates Market, 2023
Table 3: Top 10 Counties Economic Snapshot 2022
Table 4: Economic Snapshot of Other Prominent Countries 2022
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Decorative Laminates Market Size and Forecast, By Product (2018 to 2029F) (In USD Billion)
Table 7: Global Decorative Laminates Market Size and Forecast, By Texture (2018 to 2029F) (In USD Billion)
Table 8: Global Decorative Laminates Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 9: Global Decorative Laminates Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 10: North America Decorative Laminates Market Size and Forecast, By Product (2018 to 2029F) (In USD Billion)
Table 11: North America Decorative Laminates Market Size and Forecast, By Texture (2018 to 2029F) (In USD Billion)
Table 12: North America Decorative Laminates Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 13: North America Decorative Laminates Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 14: Europe Decorative Laminates Market Size and Forecast, By Product (2018 to 2029F) (In USD Billion)
Table 15: Europe Decorative Laminates Market Size and Forecast, By Texture (2018 to 2029F) (In USD Billion)
Table 16: Europe Decorative Laminates Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 17: Europe Decorative Laminates Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 18: Asia-Pacific Decorative Laminates Market Size and Forecast, By Product (2018 to 2029F) (In USD Billion)
Table 19: Asia-Pacific Decorative Laminates Market Size and Forecast, By Texture (2018 to 2029F) (In USD Billion)
Table 20: Asia-Pacific Decorative Laminates Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 21: Asia-Pacific Decorative Laminates Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 22: South America Decorative Laminates Market Size and Forecast, By Product (2018 to 2029F) (In USD Billion)
Table 23: South America Decorative Laminates Market Size and Forecast, By Texture (2018 to 2029F) (In USD Billion)
Table 24: South America Decorative Laminates Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 25: South America Decorative Laminates Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 26: Middle East & Africa Decorative Laminates Market Size and Forecast, By Product (2018 to 2029F) (In USD Billion)
Table 27: Middle East & Africa Decorative Laminates Market Size and Forecast, By Texture (2018 to 2029F) (In USD Billion)
Table 28: Middle East & Africa Decorative Laminates Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 29: Middle East & Africa Decorative Laminates Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Decorative Laminates Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Decorative Laminates Market Share By Region (2023)
Figure 6: North America Decorative Laminates Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: North America Decorative Laminates Market Share By Country (2023)
Figure 8: Europe Decorative Laminates Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Europe Decorative Laminates Market Share By Country (2023)
Figure 10: Asia-Pacific Decorative Laminates Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Asia-Pacific Decorative Laminates Market Share By Country (2023)
Figure 12: South America Decorative Laminates Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: South America Decorative Laminates Market Share By Country (2023)
Figure 14: Middle East & Africa Decorative Laminates Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 15: Middle East & Africa Decorative Laminates Market Share By Country (2023)
Figure 16: Competitive Dashboard of top 5 players, 2023
Figure 17: Market Share insights of key players, 2023
Figure 18: Porter's Five Forces of Global Decorative Laminates Market
Decorative Laminates Market Market Research FAQs
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