Decorative Laminates Market Size, Demand, Growth Factors and Forecast 2024-2032

The decorative laminates market is expected to reach US$ 62.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.

ST. BROOKLYN, NY, USA, July 9, 2024 /EINPresswire.com/ -- IMARC Group, a leading market research company, has recently releases report titled “Decorative Laminates Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, The study provides a detailed analysis of the industry, including the global decorative laminates market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the decorative laminates market?

The global decorative laminates market size reached US$ 46.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 62.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.

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Factors Affecting the Growth of the Decorative Laminates Industry:

• The rapid pace of urbanization and housing development:

As urban areas expand, there is a corresponding increase in the construction of residential and commercial buildings. This surge in construction activity directly boosts the demand for interior decoration materials, including decorative laminates, which are widely used for furniture, cabinetry, wall panels, and flooring. In emerging economies, urban migration is particularly pronounced, leading to heightened demand for cost-effective yet visually appealing materials for interior design. Decorative laminates offer a durable and economical solution for enhancing the aesthetic appeal of urban living spaces, making them a preferred choice among builders and homeowners alike, creating a positive outlook for market expansion.

• Growing consumer preference for aesthetically pleasing and functional home interiors:

Modern consumers are increasingly focused on creating stylish, comfortable, and personalized living environments. Decorative laminates cater to this trend by offering a vast array of designs, colors, and textures that can mimic the appearance of natural materials like wood, stone, and metal. The versatility of laminates allows for endless customization options, enabling consumers to achieve their desired look and feel for their interiors without the high costs associated with natural materials. Additionally, decorative laminates are known for their durability, ease of maintenance, and resistance to scratches and stains, making them a practical choice for households with high foot traffic or children and pets. This combination of aesthetic versatility and functional benefits has led to increased adoption of decorative laminates in home renovation and remodeling projects, aiding the market growth.

• Advancements in technology and materials used in laminate production:

Innovations in manufacturing processes have resulted in high-quality decorative laminates that offer enhanced performance characteristics. For instance, high-pressure laminates (HPL) and low-pressure laminates (LPL) have seen significant improvements in terms of durability, heat resistance, and moisture resistance. Moreover, technological advancements have enabled the production of laminates with more realistic and intricate designs, closely replicating the appearance of natural materials. Digital printing technology has revolutionized the decorative laminates market by allowing for precise and customizable designs, catering to specific consumer preferences and trends. The development of eco-friendly laminates, utilizing sustainable materials and environmentally conscious manufacturing practices, appealing to the growing segment of environmentally aware consumers supporting the market growth.

Decorative Laminates Market Report Segmentation:

Breakup By Product Type:

• High Pressure Laminates
• Low Pressure Laminates

Low-pressure laminates dominate the market because they offer a cost-effective solution with adequate durability for various applications.

Breakup By Application:

• Furniture and Cabinets
• Flooring
• Wall Panels
• Others

Furniture and cabinets represent the majority of shares as they are used in the primary areas where they are extensively used for their aesthetic appeal and functionality.

Breakup By End-Use:

• Non-Residential
• Residential
• Transportation

Non-residential accounts for the majority of shares due to the high demand volumes of decorative laminates for interior design projects in commercial and retail spaces.

Breakup By Texture:

• Matte/Suede
• Glossy

Matte/suede holds the majority of shares because it provides a contemporary, stylish look that is highly popular among consumers for interior surfaces.

Breakup By Pricing:

• Premium
• Mass

Mass dominates the market due to its affordability and accessibility, catering to the broad consumer base looking for economical decorative solutions.

Breakup By Sector:

• Organised
• Unorganised

Organized represents the majority of shares due to the benefit of better distribution networks and brand recognition.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific enjoys the leading position owing to the booming construction industry and rapidly growing urbanization, driving demand for decorative laminates.

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Global Decorative Laminates Market Trends:

The increasing trend of home improvement and do-it-yourself (DIY) projects, as consumers seek affordable and stylish solutions for renovations strengthening the market growth. In line with this, the rise of e-commerce has made decorative laminates more accessible, allowing consumers to easily explore and purchase a wide range of options providing an impetus to the market growth. Besides this, the rising demand for eco-friendly and sustainable building materials, as consumers and businesses prioritize environmental responsibility impelling the market growth. Furthermore, the increasing popularity of modular furniture, which often incorporates decorative laminates for aesthetic and functional benefits, is supporting the market growth.

Leading Companies Operating in the Global Decorative Laminates Industry:

• 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
• Wilsonart LLC.

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