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(Construction.IndustryNews247.Com, October 25, 2019 ) The report "Decorative Laminates Market by Raw Material, Type (General Purpose, Post forming, Backer, and Special Products), Application, End-Use Sector (Residential, Non-Residential, and Transportation), and Region - Global Forecast Till 2021", is estimated to grow from USD 6.71 Billion in 2016 to USD 7.97 Billion by 2021, at a CAGR of 3.5% from 2016 to 2021. Globally, people are opting for lavish and elegant interiors such as cabinets, wall panels, and floorings, thus increasing the demand for decorative laminates. Increasing disposable income and rapid urbanization further encourages the use of decorative laminates globally.
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Asia-Pacific is the largest market for decorative laminates
Asia-Pacific is estimated to be the largest market for decorative laminates. China is estimated to be the largest market for decorative laminates in the Asia-Pacific region. High population in the region is driving the demand for advanced infrastructure. Hence, developing economies, along with rapidly growing infrastructure is driving the decorative laminates market in the region. The demand for decorative laminates from the residential sector is expected to grow in the Asia-Pacific due to rapid urbanization and increasing disposable income of consumers.
Based on end-use sector, the non-residential sector is estimated to lead the decorative laminates market during the forecast period
Decorative laminates are used in restaurants, laboratories, educational institutes, office furniture, hospital, hotels, and retail shops. Based on end-use sector, the non-residential sector led the decorative laminates market in 2016 followed by the residential sector. Decorative laminates are used in the non-residential sector, owing to their distinct properties such as durability, high impact strength, cost effectiveness, variety, microbe-resistant, easy to maintain, customizable, easy installation, and lavish elegant looks.
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Browse in-depth TOC on "Decorative Laminates Market”
62 - Market Data Tables
31 - Figures
130 - Pages
Based on type, the general purpose segment is projected to lead the global decorative laminates market
Based on type, the general purpose segment is expected to lead the decorative laminates market during the forecast period. General purpose decorative laminates are known for their excellent properties such as impact resistance, ease of cleaning, hygiene, scratch resistance, and heat resistance. These stiff, hard, thin, abrasion-resistant, strong materials have durability and excellent aesthetic appeal. Owing to these properties, general purpose decorative laminates are used in applications such as countertops, furniture, tabletops, sink tops, and cabinetry, among others.
Major players in the global decorative laminates market are Fletcher Building Limited (New Zealand), Omnova Solutions Incorporation (U.S.), Greenlam Industries Limited (India), Merino Group (India), Wilsonart International Inc. (U.S.), Abet Laminati S.p.A. (Italy), Archidply Industries Limited (India), FunderMax Gmbh (Europe), Panolam Industries International, Inc. (U.S.), and Stylam Industries Limited (India).
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