Decorative High-Pressure Laminates Market Report Insights and Industry Analysis Application (Furniture & Cabinets), End-Users (Residential, Commercial), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Competitive Market Size, Share, Trends, and Forecast, 2018 - 2023

Pune, India, June 14, 2019 (GLOBE NEWSWIRE) -- Market Research Future (MRFR) published a new research report titled “Global Decorative High-Pressure Laminates Market,” which states that the market is expected to strike 5.3%CAGR to achieve a valuation of USD 14,857 million by 2023. Demand for Decorative High-Pressure Laminates will benefit from the increasing applications in the construction industry which includes flooring, infrastructural development, whereas ready-to-assemble (RTA) furniture, cabinets, countertops, tabletops, case goods, wood panels, and flooring and more.

High-Pressure Laminates, also known as HPL, are predominantly used and recommended by architects and interior designers across the world. HPL, denoted as the successor of plastic laminates is among the most durable materials available for horizontal surfaces, including countertops, desktops, and flooring as it usually comes with various exclusive properties. These laminates are ideal for both residential and commercial creations and are manufactured by drenching multiple layers of Kraft papers with phenolic resin and fused using heat and pressure (more than 1,000 PSI). With this, a layer of printed decor paper is placed on top of the Kraft paper before application of pressure. Materials such as thermoset plastics, including, phenolic and melamine resins are used, resulting in the formation of seperate paper sheets, which are called laminate sheets. They eventually increase the lifespan of surfaces and offer an attractive finish.

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Decorative High-Pressure Laminates, being remarkably flexible, are easy to be installed. Unlike other surfacing materials, Decorative High-Pressure Laminate sheets can be bent to a great extent, which makes them ideal for creating innovative designs. Due to these qualities and properties, the Global Decorative High-Pressure Laminates Market is expanding each year, creating a renowned market position among other competitors. HPL has paved its way across the booming construction industry, especially in Asia Pacific, which, in turn, is anticipated to drive the growth of the Global Decorative High-Pressure Laminates Market during the assessment period. These laminates are valuable substitutes for high-cost floorings, which is helping tremendously in areas of infrastructural developments. Due to increased disposable income, the Global Decorative High-Pressure Laminates are in favors at a high level.

On top of it, High-Pressure Laminates not only accentuate the aesthetic appeal of a property but also offer several other benefits that make them a better choice than other surfacing materials. Upon this, there has been a considerable rise in the adoption of High-Pressure Laminates in the construction of toilet cubicle systems, laboratory tables, and kitchen tops owing to their high durability and aesthetic appeal.

Key Players:

The Decorative High-Pressure Laminates Manufacturers range from large multinational corporations to small, privately owned companies in this industry. The key players operating in the global market are Formica Corporation (US), Greenlam Industries Limited (India), Merinolaminates (India), Stylam Industries Limited (India), Pfleiderer (Germany), Wilsonart LLC (US), OMNOVA Solutions Inc (US), Abet Laminati S.p.A. (Italy), Panolam Industries International, Inc (US), and Fundermax (Austria), among others.

Summary:

Acknowledging the accruals, the Global Decorative High-Pressure Laminates Market is relishing a prosperous growth graph currently by demonstrating its potentiality in the years to come. This report published by Market Research Future (MRFR) asserts that the Global Decorative High-Pressure Laminates Market will be valued at USD 14,857 million by 2023 and would register an impressive growth rate of 5.85% CAGR over the projection period .

Browse the market data and information spread across 129 pages with 171 data tables and 41 figures of the report “Decorative High-Pressure Laminates Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/decorative-high-pressure-laminates-market-7743  

Market Segmentation:

The future of the Global Decorative High-Pressure Laminates is projected to remain lucrative. This MRFR report offers a comprehensive segmental analysis of the Global Decorative High-Pressure Laminates Market which is carried out based on Application and End-Users.

By the mode of Application, the furniture & cabinets segment seized the largest market share of 59.9% in 2018, and now it is estimated to register the highest CAGR of 5.36% during the assessment period owing to the expansion of the use of ready-to-assemble (RTA) furniture and cabinets. Likewise, advanced design in decorative laminates for furniture & cabinets is also expected to add up for tremendous growth of this market segment.

By the mode of End-Users, the residential segment leads the global market by having a market share of 57.94% in 2018 and was valued at USD 6,649.4 million. Such growth graph is attributed to the mounting adoption of High-Pressure Laminates from flooring, RTA furniture, and in home décor, to manufacture of various furniture such as sofa, beds, and tables.

The market scale of High-Pressure Laminates will keep increasing over the next few years with high sales across the world along with the introduction of new opportunities

The geographical evaluation of Global Decorative High-Pressure Laminates Includes regions such as Asia Pacific, North America, Europe, the Middle East & Africa (MEA), and Latin America. Among these, Asia Pacific region leads by reatining the maximum market share of the market, which was recorded to be 47.5% share in 2018. The region is estimated to register a CAGR of 5.61% by 2024. This growth graph of the market is thus, attributed to the inflow of investments that are being made in the region of South-East Asia that includes Thailand, Indonesia, Singapore, and Myanmar mainly for infrastructural development. Other factors such as a rapid growth of population and economy, which ultimately results in the growth of per capita consumption are expected to propel the market growth of HPL in the region. Besides, surging disposable income in developing countries also leads to an increase in high expenditure on home interiors, which is continually boosting the regional market growth.

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North American market accounted for the second-largest market share of 23.56% in 2018, which is likely to exhibit a noteworthy CAGR of 4.71% during the assessment period. This growth graph of the market goes with the factors of high consumption of HPL in cabinets and commercial applications. Furthermore, the presence of prominent manufacturers of HPL such as Formica Corporation, Wilsonart LLC, and OMNOVA Solutions Inc in the region is helping in developing product portfolios for assorted applications in furniture and flooring sector. Meanwhile, Europe is also expected to exhibit market evolution and stability in the foreseeable future. The High-Pressure Decorative Laminates is likely to pave its way across residential and commercial applications in the regional market, thus, supporting its growth.

Related Reports:

Global Decorative Laminates Market Information Report by Material (Plastic, Paper, Vinyl, and others), by Product (High pressure laminates, Low Pressure Laminates, and Edgebanding) and Application (Residential Construction and Non-Residential Construction) and Region- Forecast 2016-2022 @ https://www.marketresearchfuture.com/reports/decorative-laminates-market-2363

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