Decorative Plastics and Paper Laminates Market Overview
According to a research survey conducted by ChemView Consulting, in 2022, the Global Decorative Plastics and Paper Laminates Market was worth US$ 53,476.8 Mn and is expected to grow at a CAGR of 5.6% over the forecast period. The market is expected to hit US$ 92,215.6 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 5.1%, the market underwent significant growth.
The Decorative Plastics and Paper Laminates market is rapidly expanding due to the growing demand for Decorative Plastics and Paper Laminates in the production of constructing cabinets, countertops, flooring, and furniture. Due to its benefits such as high flexibility and toughness, resistance to corrosion, and low maintenance requirements, which in turn fuel market growth in various industries.
ChemView Consulting has analyzed that Decorative Plastics and Paper Laminates seek significant demand from the Construction industry, positively influencing the market growth. Increasing Furniture production in regions such as the Middle East, Asia Pacific, and Latin America has risen dramatically in Decorative Plastics and Paper Laminates demand.
The main factors contributing to increased Commercial furniture production are increased credit availability, disposable income, and people’s increasing need for personal transportation. The above factors will likely increase global demand for Decorative Plastics and Paper Laminates.
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Segments Covered in Report
- Low Pressure
- High Pressure
- Edge Banding
- Furniture and Cabinets
- Wall Paneling
- Column Cladding
By End Use
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Decorative Plastics and Paper Laminates Market
- Based on the end-user, the Residentialsegment accounts for 40.0% of the global Decorative Plastics and Paper Laminates market share. The most important factor driving this growth is the construction sector in developing countries, which is presently undergoing an ongoing boom phase.
- Based on the Application, the Furniture and Cabinets segment will dominate at a significant CAGR from 2022 to 2032.
- Based on type, the heavy-pressure laminate segment dominated the decorative plastic and paper laminate market in 2021. As a result of heavy pressure laminate’s commercial success, the segment is expected to generate more than 30.0% of the decorative plastic and paper laminate market in the next five years.
- Asia-Pacific is projected to dominate the Decorative Plastics and Paper Laminates market with a market share of 58.9% during the forecast period due to high consumption from the region’s stringent end-use
Key companies covered in the market study are Archidply Industries Ltd, OMNOVA Solutions Inc., Illinois Tool Works, Inc., Merino Group, Fletcher Building Limited, Greenlam Industries Ltd., Stylam Industries Ltd, Panolam Industries International, Inc., Illinois Tool Works, Inc., OMNOVA Solutions Inc., and Century Plyboards (India) Limited.
Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.