Decorative Laminates Market - Forecast(2024 - 2030)
Decorative Laminates Market Overview
The Decorative Laminates Market size is estimated to reach US$12.7
billion by 2027 after growing at a CAGR of around 3.7% from 2022 to 2027. Decorative
laminates are materials used for lamination with decorative papers on various
surface materials to be used in walls, floors, furniture to give an aesthetic
appeal to the interior designing of homes and offices. The decorative paper is
pressed on top of Kraft paper and is impregnated with plastic resins. They are
mainly made of resins such as phenolic, melamine, as overlays, adhesives, plastic resin, and wood substrate. These
decorative laminates are majorly used in applications such as wall paneling furniture,
flooring wall, tabletops, and others. The increase in residential construction
projects in countries like India, Singapore, Korea acts as a driver to the
decorative laminates market. This is because, there will be a demand for wall
panels, decorative flooring, cabinets in residential housing projects which
require decorative laminates for enhancing the aesthetics of the houses. The
consumer preference towards interior designing for their houses also will act
as a driver for the decorative laminates market.
COVID-19 Impact
The COVID-19 pandemic
has negatively impacted the Decorative laminates market. This is because several
residential construction projects witnessed delays due to imposed lockdown
restrictions in major countries like the United States, India, and others. Due
to which interior designing products like decorative laminates witnessed fluctuating
demand throughout 2020. According to the Organization for Economic Co-operation
and Development (OECD), residential construction projects in the United Kingdom
collapsed by more than 30% in April 2020, residential building activities in the
United States decreased by 21%. Thus, due to the decline in residential
projects globally due to covid, there was a slow demand for in-wall paneling,
cabinets, flooring which in turn declined the demand for decorative laminates
market in 2020.
Report Coverage
The report: “Decorative
Laminates Market– Forecast (2022-2027)” by IndustryARC covers an in-depth
analysis of the following segments of the Decorative Laminates Industry.
By Product Type: High-Pressure
Laminates, Low-Pressure Laminates
By Resin Material: Phenolic,
Melamine, Polyester, Silicone, and Others
By Application: Cabinets,
Flooring, Wall Panel, Cubicles, and Others
By Geography: North America
(USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands,
Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India,
South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest
of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South
America), Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and
Africa (South Africa, Nigeria, Rest of Africa)
Key Takeaways
- The growth of residential construction projects in the Asia-Pacific region will drive the market. This is because there will be a demand for home furniture like cabinets, tabletops, shelving’s in the modern house construction projects which will drive the decorative laminates market. In low pressure laminates, the decorative paper is soaked in melamine resin, and the laminated paper is then directly bonded to particle board or fiber board (MDF and HDF) at low pressure. It is essentially a composite artificial material and is made by pressing together thin layers of flat paper and plastic resins.
- The consumer preference towards renovation and changing the interior design of their homes according to the modern look will increase the demand for decorative laminates made of flat paper and plastic resins.
- The growth of wall panels due
to an increase in residential construction will drive the decorative laminates
market.
Decorative Laminates Market Segment Analysis – By Product Type
By product type, high-pressure laminates are expected to grow by 3.5% during the forecast period. This is because they show excellent scratch and impact resistance which gives excellent aesthetic quality interior design solutions for consumers. Thus, are widely used in wall paneling in residential construction. High-Pressure Laminates are produced by saturating multiple layers of kraft paper with phenolic resin and highly pressing a layer of decorative paper on top of Kraft Paper. There is increased growth in the kraft paper industry. 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 market for the production of high-pressure laminates, there will be increased growth of the decorative laminates market in the forecast period.
Decorative Laminates Market Segment Analysis – By Resin Material
By resin material, phenolic is expected to account for the largest share in the global market in 2020 and is expected to grow by 3.1% during the forecast period. Phenolic resins are used during the manufacture of decorative laminates to impregnate the kraft paper. There will be an increase in the production of phenol resins because major phenol-producing companies are expanding their production capacity. For instance, in March 2021, Honeywell Universal Oil Products announced that it will produce more than 565,000 metric tons per annum of phenol and acetone at its petrochemical’s facility in Yeosu, Korea with Lotte GS Chemical Corp., using its Phenol 3G and other technologies. Similarly, Sinopec SABIC Tianjin Petrochemical, Anhui Hangmo, and Jinan Shengquan’s phenolic resin plants started in 2021. Phenolic resin in decorative laminates acts as an excellent adhesives for decorative laminates to be used as edge binding on cabinets, table tops and others. Thus, due to the increased production of phenolic resin, there will be increased use of phenolic resin in the production of decorative laminates.
Decorative Laminates Market Segment Analysis – By Application
By application, wall panel is expected to account for the largest share in the global market in 2020 and is expected to grow by 3.9% during the forecast period. Decorative laminates are widely used in wall panels especially in residential construction because these laminates aesthetically enhance and accentuate the walls and thus are preferred by consumers in their houses. Companies come up with a variety of range of decorative laminates for wall panels. For instance, ATI a major player in the decorative laminates market produces MirroFlex decorative laminates specifically designed for 3-dimensional, thermoplastic wall panels which are suitable for walls in both 4 feet x 8 feet and 4 feet x 10 feet panels. Due to the rise in residential projects coming up in the future, there will be more demand for wall panels in the upcoming years. For instance, in February 2021, the Ministry of Land, Infrastructure, and Transport, South Korea announced its real estate plan, which aims in housing redevelopment projects of around 830,000 housing units in Seoul and other big cities by 2025 led by state-run agencies. Such residential development projects in the forecast period will increase the demand for wall panels to give an appealing interior look to the housing infrastructures. Owing to the growing demand for wood panels, the demand for decorative laminates will also increase in the forecast period.
Decorative Laminates Market Segment Analysis – By Geography
Asia Pacific is the largest and the fastest-growing region in the decorative laminates market in the year 2021 and is expected to grow by 4.5% during the forecast period. This is because of the increase in residential construction projects in the Asia-Pacific region. Increasing residential construction projects and schemes in countries like China, India, Singapore, and others are expected to boost the demand for wall panels, cabinets, tabletops, and others. Several government schemes promote residential construction in these countries. For instance, in India, the residential sector is expected to grow in the upcoming years due to the initiatives taken by the central government aiming to build 20 million affordable houses across the country by 2022 under the Pradhan Mantri Awas Yojana Scheme of the Union Ministry of Housing And Urban Affairs. Due to such schemes, there is a growth in residential construction in Asia-Pacific. Thus, there will be an increased demand for wall panels, cabinets, wooden table tops which will increase the demand for decorative laminates market in the forecast period.
Decorative Laminates Market Drivers
Increasing consumer preference towards home renovation and enhancing home interior is driving the demand for decorative laminates market
There has been a significant increase in demand for home renovation
ideas amongst consumers in recent years to enhance their home interior to have
an appealing look. According to an article by Wilsonart, a major player in the decorative
laminates market, due to the work from a home pattern, remote lifestyle, there
is an increase in the urge for home renovations among consumers. Residential
clients are looking to create modern, sleek, and welcoming spaces with a nod
toward function and technology. Wilsonart offers a portfolio of engineered
surface decorative laminates for every room in a house. Therefore, the increase
in home renovations will create a demand for the decorative laminates market.
An increase in residential construction projects will drive the decorative laminates market
There
is an increase in upcoming residential construction projects which will drive
the market growth of the decorative laminates market. According to a report by
World Economic Forum Organization on April 2021, Singapore is building its
first smart and sustainable ‘forest town' with abundant green spaces and
underground roads. Under this project named as Tengah project, the country is
building five residential districts with 42,000 homes on the 700-hectare site
in Singapore’s Western region which are designed to improve residents’ health
and wellbeing and give them a better quality of life. Such smart city
residential construction projects which require residential construction in
such a huge number will require decorative laminates to be used in wall panels,
wooden cabinets, and other furniture items. Thus, the increase in such
residential projects will create more demand for decorative laminates and thus
drive the market growth.
Decorative Laminates Market Challenges
The development of large format printing can be a challenge to the decorative laminates market
The
use of large format printing using inkjet printers is increasing which is now
becoming an alternative to decorative laminates. This is because decorative
laminates have the risk of cracking. This is because changes in weather and
moisture conditions cause them to expand and contract, leading to cracks in the
laminate. The large format printing is almost similar to decorative laminates
and comes in a wide range of variety of designs. For instance, large format
prints using inkjet prints can be first printed on wall stickers, and then
installed on walls. There is no need for special adhesives like resins to be
used in large format printing unlike decorative laminates, and thus are cheaper
than decorative laminates.
Decorative Laminates Industry Outlook
Technology
launches, acquisitions, and R&D activities are key strategies that are
adopted by the dominant players in this market. Decorative Laminates top 10 companies include
- Omnova Solutions Incorporation
- Fletcher Building Limited
- Greenlam Industries Limited
- Merino Industries Limited
- Wilsonart LLC
- ATI Decorative Laminates
- Archidply Industries Limited
- FunderMax Gmbh
- Panolam Industries
International, Inc.
- Stylam Industries Limited
Acquisitions/Technology Launches
In August 2020, Wilsonart
International Inc, Wilsonart Engineered Surfaces announced that it has signed
an agreement to acquire Alpine Sales, Inc., a Columbia, South Carolina-based
wholesale distributor of decorative surfaces, post-formed countertops, lacquers
and stains, and hardware. This agreement will promote Alpine’s broad engineered
surfaces portfolio with decorative laminates of Wilsonart.
Relevant Reports
Laminating Film Market – Forecast (2021 - 2026)
Report Code: CMR 20403
Wood And Laminate Flooring Market – Forecast (2021 - 2026)
Report Code: CMR 67026
Laminated Labels Market– Forecast (2021 - 2026)
Report Code: CMR 75403
For more Chemicals and Materials Market reports, please click here
LIST OF TABLES
1.Global Decorative Laminates, By Raw Material Market 2023-2030 ($M)1.1 Plastic Resin Market 2023-2030 ($M) - Global Industry Research
1.1.1 Phenolic Resin Market 2023-2030 ($M)
1.1.2 Melamine Resin Market 2023-2030 ($M)
1.2 Overlay Market 2023-2030 ($M) - Global Industry Research
1.2.1 Saturating Kraft Paper Market 2023-2030 ($M)
1.2.2 Decorative Paper Market 2023-2030 ($M)
1.2.3 Vinyl Film Market 2023-2030 ($M)
1.3 Adhesive Market 2023-2030 ($M) - Global Industry Research
1.4 Wood Substrate Market 2023-2030 ($M) - Global Industry Research
1.4.1 Particleboard Market 2023-2030 ($M)
1.4.2 Medium Density Board Market 2023-2030 ($M)
1.4.3 Hardboard Market 2023-2030 ($M)
2.Global Decorative Laminate Market, By Type Market 2023-2030 ($M)
2.1 General Purpose Market 2023-2030 ($M) - Global Industry Research
2.2 Postforming Market 2023-2030 ($M) - Global Industry Research
2.3 Special Product Market 2023-2030 ($M) - Global Industry Research
2.4 Backer Market 2023-2030 ($M) - Global Industry Research
3.Global Decorative Laminates, By End-Use Sector Market 2023-2030 ($M)
3.1 Residential Market 2023-2030 ($M) - Global Industry Research
3.2 Non-Residential Market 2023-2030 ($M) - Global Industry Research
3.3 Transportation Market 2023-2030 ($M) - Global Industry Research
4.Global Decorative Laminates, By Raw Material Market 2023-2030 (Volume/Units)
4.1 Plastic Resin Market 2023-2030 (Volume/Units) - Global Industry Research
4.1.1 Phenolic Resin Market 2023-2030 (Volume/Units)
4.1.2 Melamine Resin Market 2023-2030 (Volume/Units)
4.2 Overlay Market 2023-2030 (Volume/Units) - Global Industry Research
4.2.1 Saturating Kraft Paper Market 2023-2030 (Volume/Units)
4.2.2 Decorative Paper Market 2023-2030 (Volume/Units)
4.2.3 Vinyl Film Market 2023-2030 (Volume/Units)
4.3 Adhesive Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Wood Substrate Market 2023-2030 (Volume/Units) - Global Industry Research
4.4.1 Particleboard Market 2023-2030 (Volume/Units)
4.4.2 Medium Density Board Market 2023-2030 (Volume/Units)
4.4.3 Hardboard Market 2023-2030 (Volume/Units)
5.Global Decorative Laminate Market, By Type Market 2023-2030 (Volume/Units)
5.1 General Purpose Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Postforming Market 2023-2030 (Volume/Units) - Global Industry Research
5.3 Special Product Market 2023-2030 (Volume/Units) - Global Industry Research
5.4 Backer Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global Decorative Laminates, By End-Use Sector Market 2023-2030 (Volume/Units)
6.1 Residential Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Non-Residential Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Transportation Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America Decorative Laminates, By Raw Material Market 2023-2030 ($M)
7.1 Plastic Resin Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Phenolic Resin Market 2023-2030 ($M)
7.1.2 Melamine Resin Market 2023-2030 ($M)
7.2 Overlay Market 2023-2030 ($M) - Regional Industry Research
7.2.1 Saturating Kraft Paper Market 2023-2030 ($M)
7.2.2 Decorative Paper Market 2023-2030 ($M)
7.2.3 Vinyl Film Market 2023-2030 ($M)
7.3 Adhesive Market 2023-2030 ($M) - Regional Industry Research
7.4 Wood Substrate Market 2023-2030 ($M) - Regional Industry Research
7.4.1 Particleboard Market 2023-2030 ($M)
7.4.2 Medium Density Board Market 2023-2030 ($M)
7.4.3 Hardboard Market 2023-2030 ($M)
8.North America Decorative Laminate Market, By Type Market 2023-2030 ($M)
8.1 General Purpose Market 2023-2030 ($M) - Regional Industry Research
8.2 Postforming Market 2023-2030 ($M) - Regional Industry Research
8.3 Special Product Market 2023-2030 ($M) - Regional Industry Research
8.4 Backer Market 2023-2030 ($M) - Regional Industry Research
9.North America Decorative Laminates, By End-Use Sector Market 2023-2030 ($M)
9.1 Residential Market 2023-2030 ($M) - Regional Industry Research
9.2 Non-Residential Market 2023-2030 ($M) - Regional Industry Research
9.3 Transportation Market 2023-2030 ($M) - Regional Industry Research
10.South America Decorative Laminates, By Raw Material Market 2023-2030 ($M)
10.1 Plastic Resin Market 2023-2030 ($M) - Regional Industry Research
10.1.1 Phenolic Resin Market 2023-2030 ($M)
10.1.2 Melamine Resin Market 2023-2030 ($M)
10.2 Overlay Market 2023-2030 ($M) - Regional Industry Research
10.2.1 Saturating Kraft Paper Market 2023-2030 ($M)
10.2.2 Decorative Paper Market 2023-2030 ($M)
10.2.3 Vinyl Film Market 2023-2030 ($M)
10.3 Adhesive Market 2023-2030 ($M) - Regional Industry Research
10.4 Wood Substrate Market 2023-2030 ($M) - Regional Industry Research
10.4.1 Particleboard Market 2023-2030 ($M)
10.4.2 Medium Density Board Market 2023-2030 ($M)
10.4.3 Hardboard Market 2023-2030 ($M)
11.South America Decorative Laminate Market, By Type Market 2023-2030 ($M)
11.1 General Purpose Market 2023-2030 ($M) - Regional Industry Research
11.2 Postforming Market 2023-2030 ($M) - Regional Industry Research
11.3 Special Product Market 2023-2030 ($M) - Regional Industry Research
11.4 Backer Market 2023-2030 ($M) - Regional Industry Research
12.South America Decorative Laminates, By End-Use Sector Market 2023-2030 ($M)
12.1 Residential Market 2023-2030 ($M) - Regional Industry Research
12.2 Non-Residential Market 2023-2030 ($M) - Regional Industry Research
12.3 Transportation Market 2023-2030 ($M) - Regional Industry Research
13.Europe Decorative Laminates, By Raw Material Market 2023-2030 ($M)
13.1 Plastic Resin Market 2023-2030 ($M) - Regional Industry Research
13.1.1 Phenolic Resin Market 2023-2030 ($M)
13.1.2 Melamine Resin Market 2023-2030 ($M)
13.2 Overlay Market 2023-2030 ($M) - Regional Industry Research
13.2.1 Saturating Kraft Paper Market 2023-2030 ($M)
13.2.2 Decorative Paper Market 2023-2030 ($M)
13.2.3 Vinyl Film Market 2023-2030 ($M)
13.3 Adhesive Market 2023-2030 ($M) - Regional Industry Research
13.4 Wood Substrate Market 2023-2030 ($M) - Regional Industry Research
13.4.1 Particleboard Market 2023-2030 ($M)
13.4.2 Medium Density Board Market 2023-2030 ($M)
13.4.3 Hardboard Market 2023-2030 ($M)
14.Europe Decorative Laminate Market, By Type Market 2023-2030 ($M)
14.1 General Purpose Market 2023-2030 ($M) - Regional Industry Research
14.2 Postforming Market 2023-2030 ($M) - Regional Industry Research
14.3 Special Product Market 2023-2030 ($M) - Regional Industry Research
14.4 Backer Market 2023-2030 ($M) - Regional Industry Research
15.Europe Decorative Laminates, By End-Use Sector Market 2023-2030 ($M)
15.1 Residential Market 2023-2030 ($M) - Regional Industry Research
15.2 Non-Residential Market 2023-2030 ($M) - Regional Industry Research
15.3 Transportation Market 2023-2030 ($M) - Regional Industry Research
16.APAC Decorative Laminates, By Raw Material Market 2023-2030 ($M)
16.1 Plastic Resin Market 2023-2030 ($M) - Regional Industry Research
16.1.1 Phenolic Resin Market 2023-2030 ($M)
16.1.2 Melamine Resin Market 2023-2030 ($M)
16.2 Overlay Market 2023-2030 ($M) - Regional Industry Research
16.2.1 Saturating Kraft Paper Market 2023-2030 ($M)
16.2.2 Decorative Paper Market 2023-2030 ($M)
16.2.3 Vinyl Film Market 2023-2030 ($M)
16.3 Adhesive Market 2023-2030 ($M) - Regional Industry Research
16.4 Wood Substrate Market 2023-2030 ($M) - Regional Industry Research
16.4.1 Particleboard Market 2023-2030 ($M)
16.4.2 Medium Density Board Market 2023-2030 ($M)
16.4.3 Hardboard Market 2023-2030 ($M)
17.APAC Decorative Laminate Market, By Type Market 2023-2030 ($M)
17.1 General Purpose Market 2023-2030 ($M) - Regional Industry Research
17.2 Postforming Market 2023-2030 ($M) - Regional Industry Research
17.3 Special Product Market 2023-2030 ($M) - Regional Industry Research
17.4 Backer Market 2023-2030 ($M) - Regional Industry Research
18.APAC Decorative Laminates, By End-Use Sector Market 2023-2030 ($M)
18.1 Residential Market 2023-2030 ($M) - Regional Industry Research
18.2 Non-Residential Market 2023-2030 ($M) - Regional Industry Research
18.3 Transportation Market 2023-2030 ($M) - Regional Industry Research
19.MENA Decorative Laminates, By Raw Material Market 2023-2030 ($M)
19.1 Plastic Resin Market 2023-2030 ($M) - Regional Industry Research
19.1.1 Phenolic Resin Market 2023-2030 ($M)
19.1.2 Melamine Resin Market 2023-2030 ($M)
19.2 Overlay Market 2023-2030 ($M) - Regional Industry Research
19.2.1 Saturating Kraft Paper Market 2023-2030 ($M)
19.2.2 Decorative Paper Market 2023-2030 ($M)
19.2.3 Vinyl Film Market 2023-2030 ($M)
19.3 Adhesive Market 2023-2030 ($M) - Regional Industry Research
19.4 Wood Substrate Market 2023-2030 ($M) - Regional Industry Research
19.4.1 Particleboard Market 2023-2030 ($M)
19.4.2 Medium Density Board Market 2023-2030 ($M)
19.4.3 Hardboard Market 2023-2030 ($M)
20.MENA Decorative Laminate Market, By Type Market 2023-2030 ($M)
20.1 General Purpose Market 2023-2030 ($M) - Regional Industry Research
20.2 Postforming Market 2023-2030 ($M) - Regional Industry Research
20.3 Special Product Market 2023-2030 ($M) - Regional Industry Research
20.4 Backer Market 2023-2030 ($M) - Regional Industry Research
21.MENA Decorative Laminates, By End-Use Sector Market 2023-2030 ($M)
21.1 Residential Market 2023-2030 ($M) - Regional Industry Research
21.2 Non-Residential Market 2023-2030 ($M) - Regional Industry Research
21.3 Transportation Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Decorative Laminates Market Revenue, 2023-2030 ($M)2.Canada Decorative Laminates Market Revenue, 2023-2030 ($M)
3.Mexico Decorative Laminates Market Revenue, 2023-2030 ($M)
4.Brazil Decorative Laminates Market Revenue, 2023-2030 ($M)
5.Argentina Decorative Laminates Market Revenue, 2023-2030 ($M)
6.Peru Decorative Laminates Market Revenue, 2023-2030 ($M)
7.Colombia Decorative Laminates Market Revenue, 2023-2030 ($M)
8.Chile Decorative Laminates Market Revenue, 2023-2030 ($M)
9.Rest of South America Decorative Laminates Market Revenue, 2023-2030 ($M)
10.UK Decorative Laminates Market Revenue, 2023-2030 ($M)
11.Germany Decorative Laminates Market Revenue, 2023-2030 ($M)
12.France Decorative Laminates Market Revenue, 2023-2030 ($M)
13.Italy Decorative Laminates Market Revenue, 2023-2030 ($M)
14.Spain Decorative Laminates Market Revenue, 2023-2030 ($M)
15.Rest of Europe Decorative Laminates Market Revenue, 2023-2030 ($M)
16.China Decorative Laminates Market Revenue, 2023-2030 ($M)
17.India Decorative Laminates Market Revenue, 2023-2030 ($M)
18.Japan Decorative Laminates Market Revenue, 2023-2030 ($M)
19.South Korea Decorative Laminates Market Revenue, 2023-2030 ($M)
20.South Africa Decorative Laminates Market Revenue, 2023-2030 ($M)
21.North America Decorative Laminates By Application
22.South America Decorative Laminates By Application
23.Europe Decorative Laminates By Application
24.APAC Decorative Laminates By Application
25.MENA Decorative Laminates By Application
26.Fletcher Building Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Omnova Solution Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Greenlam Industry Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Merino Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Wilsonart International Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Abet Laminati S P A, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Archidply Industry Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Fundermax Gmbh, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Panolam Industry International, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Stylam Industry Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)