The market is expected to generate an incremental $ opportunity of US$ 38,738.8 Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00217 Format: PDF Pages: 300
Decorative Plastics and Paper Laminates Market Size Analysis
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.
Decorative plastic and paper laminates are used as surface materials in constructing cabinets, countertops, flooring, and furniture. These laminated sheets are made of kraft and printed papers that are fused with pressure and heat. They have a special adhesive that binds them together, allowing them to be cut even after fusing.
THE GROWTH IN THE READY-TO-ASSEMBLE FURNITURE WILL DRIVE THE MARKET
Ready-to-assemble furniture (RTA) is a type of furniture that is easy to assemble and transport. Consequently, this type of furniture has become more popular and widely used than flooring materials. Moreover, the increased demand for RTA furniture contributes to its price since it requires fewer raw materials than other conventional types of furniture. Rising disposable income and urbanization, as well as expenditure on infrastructure improvement, mainly in commercial and residential sectors, are the major driving factors for the growth of RTA furniture.
AVAILABILITY OF CHEAPER ALTERNATIVES HAMPER THE MARKET GROWTH
Inkjet printers, essentially computer-controlled printers, can be used to print decorative surfaces like wall stickers using different types of inks, producing a wide range of design patterns and designs. This has made it more economical than decorative laminates, which are costly. Another advantage is that inkjet printers come with a wider color gamut than standard printing technologies. Thus, color tones or shades can be reproduced easily on the surface of various types of materials.
AN INCREASE IN THE CONSTRUCTION INDUSTRY CREATES AMPLE OF OPPORTUNITY
Over the past several years, the residential building industry has significantly recovered, a major factor in the decorative plastic and paper laminates industry’s sales growth. As lifestyle has become faster-paced, there is a growing desire for more vibrant and engaging public spaces. This new trend will lead to the exploitation of the visual potential of laminates in modern design. Laminated flooring is easy to install and can be adapted depending on the current configuration.
Market Segments Covered in Report
By End Use
By Region and Country:
Why is the high-pressure laminate segment projected to dominate the market?
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. This is attributed to heavy-pressure products’ increasing use as work surfaces for commercial furniture and restaurants, popularly used products in North America and Europe.
Why is the residential construction segment expected to expand the fastest during the forecast period?
The Decorative Plastics and Paper Laminates market has witnessed growth in the global construction sector. This has primarily been driven by the growing demand for home building across all regions of the world, resulting in a bulk of this market. The most important factor driving this growth is the construction sector in developing countries, which is presently undergoing an ongoing boom phase.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Manufacturers of Decorative Plastic and Paper Laminates are channeling efforts towards expanding their production capacities and strengthening their retailer and distributor network. It will certainly impact the Decorative Plastic and Paper Laminates market shortly.
A list of some of the key suppliers present in the market are:
Global Decorative Plastics and Paper Laminates Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Application, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|