Decorative Plastics And Paper Laminates Market - Forecast(2024 - 2030)
Decorative Plastics and Paper Laminates Market Overview
The Decorative Plastics and Paper Laminates Market size is forecast to reach US$70.3 billion by 2027, after growing at a CAGR of 5.2%
during the forecast period 2022-2027. The decorative plastics and paper
laminates are manufactured by impregnating plastics and paper with carbon fiber
and phenolic resin, after which these treated papers are pressed under
calculated pressure and controlled temperature. They are
used for a wide range of applications that include column claddings, furniture
and cabinets, flooring, wall paneling, doors, and other similar applications in the construction of residential and commercial buildings. According to recent
insights from the World Cement, the global construction industry output increased
by 5.7% in 2021. An
increase in building & construction activities along with increasing
consumer preference towards laminate flooring acts as major drivers for the
market. On the other hand, the availability of cheaper alternatives such as inkjet
printers may confine the market growth
COVID-19 Impact
There is no doubt that the COVID-19 lockdown
has significantly reduced construction, and production activities as a result
of the country-wise shutdown of construction sites, shortage of labor, and the
decline of supply and demand chain all over the world, thus, affecting the
market. Studies show that the outbreak of COVID-19 sharply declined the
production of raw materials in 2020 due to a lack of operations across multiple
countries around the world. However, a slow recovery in new development and
construction contracts has been witnessed across many countries around the world
since 2021. For instance, according to the General Statistics Office
(GSO) of Vietnam, the building & construction industry recorded a growth of
5.7% during the third quarter of 2020, and up to 5.5% during the fourth quarter
of 2020. Furthermore, in order to encourage the private investors, the
government also offered incentives to developers for the construction of affordable
houses and has set aside US$1.3 billion for the construction of affordable
houses in the country during the period of 2018 to 2022.
In this way, a steady increase in building and
construction activities is expected to increase the demand for decorative
plastics and paper laminates for use in column
claddings, furniture and cabinets, flooring, wall paneling, doors, and other
similar applications
in residential or commercial buildings. This indicates a slow and steady recovery
of the market in the upcoming years.
Decorative Plastics and Paper Laminates Market Report Coverage
The report: “Decorative Plastics and Paper Laminates Market – Forecast (2022-2027)”,
by IndustryARC covers an in-depth analysis of the following segments of the Decorative Plastics and Paper Laminates
Industry.
By Type: High Pressure, Low Pressure, Edge
Banding.
By Application: Column Claddings, Furniture, and
Cabinets, Flooring, Wall Paneling, Doors, Others.
By End-Use: Residential Construction, Commercial
Construction, Others.
By Geography: North America (USA, Canada, and
Mexico), Europe (the UK, Germany, France, Italy, Netherlands, Spain, Russia,
Belgium, and the Rest of Europe), Asia-Pacific (China, Japan, India, South
Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and the Rest of Asia-Pacific),
South America (Brazil, Argentina, Colombia, Chile and the Rest of South
America), the Rest of the World (the Middle East, and Africa).
Key Takeaways
- The
low-pressure laminates in Decorative Plastics and Paper Laminates Market is
expected to see the fastest growth, especially during the forecast period. Its
wide range of characteristics, crack, and abrasion resistance properties made
it stand out in comparison to other types of laminates in the market.
- Residential
construction in Decorative Plastics and Paper Laminates Market is expected to
see the fastest growth, especially during the forecast period, owing to its
increasing demand for applications such as furniture, cabinets, column
claddings, flooring, walls, and doors during the construction of residential
buildings.
- Asia-Pacific
dominated the Decorative Plastics and Paper Laminates Market in 2021, owing to
the increasing demand for decorative plastics and paper laminates from construction
sectors in the region. For instance, in October 2021, the MoC (Ministry of
Construction) of Vietnam proposed around 266 residential housing projects
across the country which are scheduled to be completed from 2022 to 2025.
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The low pressure laminate held the largest
share in the Decorative Plastics and Paper Laminates Market in
2021 and is expected to grow at a CAGR of 5.4% between 2022 and 2027, owing to
its increasing demand due to the properties and benefits they offer. Low pressure laminates provide resistance to crack,
scratch, abrasion, and can also tolerate humid weather conditions. They can duplicate
any design, offer excellent color translation, and are extremely easy to clean
along with being much cheaper and cost-effective in comparison to high pressure
and edge band laminates. Moreover, low pressure laminates come in a wide range
of colors, textures, and patterns which makes them ideal for use in a range of
applications such as furniture, cabinets, column claddings, and flooring in
commercial and residential settings. Hence, all of these benefits of low
pressure laminates are driving its demand over other types of plastic and paper
laminates, thus, boosting the market growth in the upcoming years.
Decorative Plastics and Paper Laminates Market Segment Analysis – By End-Use
The residential construction held the largest
share in the Decorative Plastics and Paper Laminates Market in 2021 and is
expected to grow at a CAGR of 5.6% between 2022 and 2027, owing to the increase
in construction of residential buildings across the globe. For instance, in
October 2021, the Ministry of Construction of Vietnam had proposed VND 30
trillion (US$ 1.3 billion) credit package to build low-cost residential
homes for workers. Likewise, MoC had proposed 266 residential housing projects
with more than 142,000 units totaling more than 7.1 million square meters
across the country in 2021. Another 278 residential projects including 276,000
units with a total area of 13.8 million square meters are currently under
development in Vietnam. All of these projects are scheduled to begin in 2022 and be completed by the end of 2025.
Furthermore, recent
insights from Construct Connect states that the US government has funded around US$ 20,000 for the construction of a Real
Estate and Development project called One Central Project in Chicago. The
project is under the Schematic Design phase and currently undergoing construction
in 2022. In this way, an increase in the construction of buildings for residential
sectors is expected to increase the demand for decorative plastics and paper
laminates for use in column claddings, furniture and cabinets, flooring, wall
paneling, doors, and other similar applications. This is most likely to drive
the market growth during the forecast period.
Decorative Plastics and Paper Laminates Market Segment Analysis – By Geography
The Asia Pacific held the largest share in the
Decorative Plastics and Paper Laminates Market in 2021 up to 30%. The
consumption of decorative plastics and paper laminates is particularly high in
this region due to its increasing demand from the construction sector. For
instance, in December 2021, CapitaLand Group, a leading real estate group in
Asia, announced the acquisition of a prime site for its large-scale residential
project in Vietnam, with a projected total gross development value of
approximately US$ 1.12 billion. The site is located in Binh Duong province,
Vietnam. The project is expected to be launched in phases and construction of the
first phase consisting of about 1,300 houses and apartments will start in
2022. The first phase of the project is
scheduled to be completed in 2024, while the rest of the project is scheduled
for completion in 2027. In 2020, the Ho Chi Minh City Committee in
Vietnam announced the commencement of
building a high-rise commercial-financial service condominium Tower in Tan Phu
District which is expected to be completed by the end of 2022. Likewise, the development of a
high-rise condominium with commercial services, in Ward 16, District 8 of Ho
Chi Minh City, is undergoing development and is expected to be completed in 2024.
Furthermore, the government of China approved 695 building and construction projects with a total investment of 3 trillion yuan (US$ 471 billion) in January 2022. Hence, an increase in such new building and construction projects in multiple countries across the region is expected to increase the demand for decorative plastics and paper laminates, thus, leading to the growth of the market in the upcoming years.
Decorative
Plastics and Paper Laminates Market Drivers
An increase in construction activities is most likely to increase demand for the product
Construction activities are considered to be
the pillar of growth for a country and also play a major role in increasing the
overall global economy. For instance, according to Volvo CE, the construction
sector saw an increase in construction activities across multiple regions
since the fourth quarter of 2020. South America saw an increase of 12%, Asia by
39%, Europe by 20%, and China by 28% in 2020. Furthermore, YIT Corporation commenced
the construction of numerous residential apartment building projects in
Finland, the CEE countries, and Russia in December 2021, with total investments
of around EUR 200 million (US$ 236.5 million). The projects are scheduled to be
completed by the end of 2023. Hence, an increase in global construction
activities is expected to increase the demand for decorative plastics and paper
laminates for use in column claddings, furniture, cabinets, flooring, wall
paneling, and doors of a residential or commercial building. This is most
likely to drive the growth of the market in the upcoming years.
Increasing consumer preference towards laminate flooring is most likely to increase demand for the product
Laminate flooring provides a strong,
scratch-resistant, and highly durable flooring surface. It is much easier to
install in comparison to other floor types. It is available in a wide range of
colors, thicknesses, patterns, finishing, and plank styles. It is quite versatile
and can be installed on any type of subfloor as opposed to hardwood floors.
Laminate flooring offers good resistance to stain and moisture, which makes it
much easier to clean and maintain. Moreover, laminate flooring is comparatively
cheaper than hardwood flooring and is much easier to install than any other
floor type. Hence, all of these properties and benefits of laminate flooring
are driving its demand over other types of flooring. Owing to these benefits,
consumer preference towards laminate flooring has been increasing since recent
years, which in turn, is expected to drive the Decorative Plastics and Paper
Laminates Market in the upcoming years.
Decorative Plastics and Paper Laminates Market Challenges
Availability of cheaper alternatives such as inkjet printers may confine the market growth
The use of
inkjet printers as an alternative to decorative laminates for producing a
decorative surface is increasing rapidly. The major reason behind this is the
higher risk of cracking related to decorative laminates. Changes in weather and
moisture conditions cause decorative laminates to expand and contract, thus,
resulting in cracks in the laminate. Decorative surface printed using inkjet
printer produces similar results to decorative laminates and come in a wide
range of designs and patterns. For example, large format prints using an inkjet
printer can be easily printed on wall stickers, and then installed on walls. It
does not require the use of special adhesives like resins as opposed to
decorative laminates, which makes it cheaper than decorative laminates. Thus,
such increasing availability of cheaper alternatives may confine the growth of
the market.
Decorative Plastics and Paper Laminates Industry Outlook
Technology launches, acquisitions, and R&D
activities are key strategies adopted by players in the market. Decorative Plastics and
Paper Laminates top 10 companies include:
- Panolam
Industries International
- OMNOVA
Solutions
- Wilsonart
International
- Greenlam
Industries
- Abet
Laminati
- Stylam
Industries
- Century
Plyboards
- Archidply
Industries
- Fundermax
GmbH
- Fletcher
Building
Recent Developments
- In
December 2021, TCS Marketing launched its decorative laminates range in India. The
new laminates range includes its 0.8 mm range with 19 exclusive textures along
with 220 designs. In addition to this, the company also launched its 1mm
laminate range in the next month that included more than 250 designs.
- In
May 2021, Amulya Mica announced to launch its imperial premium decorative
laminate collection in May 2022. Its new laminate collection range is expected
to uplift the look of any application as compared to other laminates.
Relevant Reports
Flooring Market
– Forecast (2022 - 2027)
Report Code: CMR 1245
Wood
and Laminate Flooring Market – Forecast (2021 - 2026)
Report Code: CMR 67026
Laminating Film Market - Forecast (2021-2026)
Report Code: CMR 20403
For more Chemicals and Materials related reports, please click here
LIST OF TABLES
1.Global Decorative Plastic and Paper Laminates Market Analysis By Type Market 2023-2030 ($M)1.1 By Type, Market 2023-2030 ($M) - Global Industry Research
1.1.1 High Pressure Market 2023-2030 ($M)
1.1.2 Low Pressure Market 2023-2030 ($M)
1.1.3 Edge Banding Market 2023-2030 ($M)
2.Global Decorative Plastic and Paper Laminates Market Analysis By End Use Market 2023-2030 ($M)
2.1 By End Use, Market 2023-2030 ($M) - Global Industry Research
2.1.1 Residential Market 2023-2030 ($M)
2.1.2 Commercial Market 2023-2030 ($M)
2.1.3 Institutional Market 2023-2030 ($M)
3.Global Competition Landscape Market 2023-2030 ($M)
3.1 Market Structure Analysis Market 2023-2030 ($M) - Global Industry Research
4.Global Decorative Plastic and Paper Laminates Market Analysis By Type Market 2023-2030 (Volume/Units)
4.1 By Type, Market 2023-2030 (Volume/Units) - Global Industry Research
4.1.1 High Pressure Market 2023-2030 (Volume/Units)
4.1.2 Low Pressure Market 2023-2030 (Volume/Units)
4.1.3 Edge Banding Market 2023-2030 (Volume/Units)
5.Global Decorative Plastic and Paper Laminates Market Analysis By End Use Market 2023-2030 (Volume/Units)
5.1 By End Use, Market 2023-2030 (Volume/Units) - Global Industry Research
5.1.1 Residential Market 2023-2030 (Volume/Units)
5.1.2 Commercial Market 2023-2030 (Volume/Units)
5.1.3 Institutional Market 2023-2030 (Volume/Units)
6.Global Competition Landscape Market 2023-2030 (Volume/Units)
6.1 Market Structure Analysis Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America Decorative Plastic and Paper Laminates Market Analysis By Type Market 2023-2030 ($M)
7.1 By Type, Market 2023-2030 ($M) - Regional Industry Research
7.1.1 High Pressure Market 2023-2030 ($M)
7.1.2 Low Pressure Market 2023-2030 ($M)
7.1.3 Edge Banding Market 2023-2030 ($M)
8.North America Decorative Plastic and Paper Laminates Market Analysis By End Use Market 2023-2030 ($M)
8.1 By End Use, Market 2023-2030 ($M) - Regional Industry Research
8.1.1 Residential Market 2023-2030 ($M)
8.1.2 Commercial Market 2023-2030 ($M)
8.1.3 Institutional Market 2023-2030 ($M)
9.North America Competition Landscape Market 2023-2030 ($M)
9.1 Market Structure Analysis Market 2023-2030 ($M) - Regional Industry Research
10.South America Decorative Plastic and Paper Laminates Market Analysis By Type Market 2023-2030 ($M)
10.1 By Type, Market 2023-2030 ($M) - Regional Industry Research
10.1.1 High Pressure Market 2023-2030 ($M)
10.1.2 Low Pressure Market 2023-2030 ($M)
10.1.3 Edge Banding Market 2023-2030 ($M)
11.South America Decorative Plastic and Paper Laminates Market Analysis By End Use Market 2023-2030 ($M)
11.1 By End Use, Market 2023-2030 ($M) - Regional Industry Research
11.1.1 Residential Market 2023-2030 ($M)
11.1.2 Commercial Market 2023-2030 ($M)
11.1.3 Institutional Market 2023-2030 ($M)
12.South America Competition Landscape Market 2023-2030 ($M)
12.1 Market Structure Analysis Market 2023-2030 ($M) - Regional Industry Research
13.Europe Decorative Plastic and Paper Laminates Market Analysis By Type Market 2023-2030 ($M)
13.1 By Type, Market 2023-2030 ($M) - Regional Industry Research
13.1.1 High Pressure Market 2023-2030 ($M)
13.1.2 Low Pressure Market 2023-2030 ($M)
13.1.3 Edge Banding Market 2023-2030 ($M)
14.Europe Decorative Plastic and Paper Laminates Market Analysis By End Use Market 2023-2030 ($M)
14.1 By End Use, Market 2023-2030 ($M) - Regional Industry Research
14.1.1 Residential Market 2023-2030 ($M)
14.1.2 Commercial Market 2023-2030 ($M)
14.1.3 Institutional Market 2023-2030 ($M)
15.Europe Competition Landscape Market 2023-2030 ($M)
15.1 Market Structure Analysis Market 2023-2030 ($M) - Regional Industry Research
16.APAC Decorative Plastic and Paper Laminates Market Analysis By Type Market 2023-2030 ($M)
16.1 By Type, Market 2023-2030 ($M) - Regional Industry Research
16.1.1 High Pressure Market 2023-2030 ($M)
16.1.2 Low Pressure Market 2023-2030 ($M)
16.1.3 Edge Banding Market 2023-2030 ($M)
17.APAC Decorative Plastic and Paper Laminates Market Analysis By End Use Market 2023-2030 ($M)
17.1 By End Use, Market 2023-2030 ($M) - Regional Industry Research
17.1.1 Residential Market 2023-2030 ($M)
17.1.2 Commercial Market 2023-2030 ($M)
17.1.3 Institutional Market 2023-2030 ($M)
18.APAC Competition Landscape Market 2023-2030 ($M)
18.1 Market Structure Analysis Market 2023-2030 ($M) - Regional Industry Research
19.MENA Decorative Plastic and Paper Laminates Market Analysis By Type Market 2023-2030 ($M)
19.1 By Type, Market 2023-2030 ($M) - Regional Industry Research
19.1.1 High Pressure Market 2023-2030 ($M)
19.1.2 Low Pressure Market 2023-2030 ($M)
19.1.3 Edge Banding Market 2023-2030 ($M)
20.MENA Decorative Plastic and Paper Laminates Market Analysis By End Use Market 2023-2030 ($M)
20.1 By End Use, Market 2023-2030 ($M) - Regional Industry Research
20.1.1 Residential Market 2023-2030 ($M)
20.1.2 Commercial Market 2023-2030 ($M)
20.1.3 Institutional Market 2023-2030 ($M)
21.MENA Competition Landscape Market 2023-2030 ($M)
21.1 Market Structure Analysis Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)2.Canada Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
3.Mexico Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
4.Brazil Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
5.Argentina Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
6.Peru Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
7.Colombia Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
8.Chile Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
9.Rest of South America Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
10.UK Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
11.Germany Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
12.France Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
13.Italy Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
14.Spain Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
15.Rest of Europe Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
16.China Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
17.India Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
18.Japan Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
19.South Korea Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
20.South Africa Decorative Plastics And Paper Laminates Opportunity Assessment 2019 Market Revenue, 2023-2030 ($M)
21.North America Decorative Plastics And Paper Laminates Opportunity Assessment 2019 By Application
22.South America Decorative Plastics And Paper Laminates Opportunity Assessment 2019 By Application
23.Europe Decorative Plastics And Paper Laminates Opportunity Assessment 2019 By Application
24.APAC Decorative Plastics And Paper Laminates Opportunity Assessment 2019 By Application
25.MENA Decorative Plastics And Paper Laminates Opportunity Assessment 2019 By Application