Paper-Based Laminates Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Paper Based Laminates Industry Prospective:

The global paper based laminates market size was worth around USD 6.18 billion in 2023 and is predicted to grow to around USD 9.07 billion by 2032 with a compound annual growth rate (CAGR) of roughly between 2024 and 2032.4.36%

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Paper Based Laminates Market: Overview

Paper-based laminates are produced by processing and stacking layers of resin-impregnated formulation. They are also known as synthetic resin-bonded papers (SRBPs). The resin used during the production process is specially formulated. When modified paper-based structures are stacked and subjected to high pressure and temperature, the resulting material is highly lightweight and economical.

In addition to this, paper-based laminates also offer excellent mechanical properties, insulation features, and rigidity. One of the main features of SRBP is its low water absorption and superior electrical insulation properties, which sets it apart from its fabric-based counterparts.

However, the latter is known to deliver higher mechanical characteristics and impact strength. The inherent properties of paper-based laminates make them ideal for high and medium-voltage applications. In addition to this, B3 and B1 synthetic resin-bonded papers are suited for environments that are exposed to varying levels of humidity or in places where the final product will be immersed in oil.

The demand for paper-based laminates is used across several industries, including the furniture and interior designing industry and construction & buildings industry. During the forecast period, the industry is likely to deliver exceptional growth trends while also facing specific challenges and growth limitations.

Key Insights:

• As per the analysis shared by our research analyst, the global paper based laminates market is estimated to grow annually at a CAGR of around 4.36% over the forecast period (2024-2032)
• In terms of revenue, the global paper based laminates market size was valued at around USD 6.18 billion in 2023 and is projected to reach USD 9.07 billion by 2032.
• The stigmasterol-rich plant sterols market is projected to grow at a significant rate due to the growing use in the construction & building sector.
• Based on the end-user, the food & beverages segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on the grade, the bleached laminates segment is anticipated to command the largest market share.
• Based on region, Asia-Pacific is projected to dominate the global market during the forecast period.

Paper Based Laminates Market: Growth Drivers

Growing use in the construction & building sector will fuel the market demand rate

The global paper-based laminates market is expected to grow due to the growing use of the material in the construction & building industry. Paper-based laminates have shown exceptional performance as decorative materials for building flooring. Moreover, they are easy to install, clean, and maintain, further influencing the decision-makers.

The growing demand for affordable flooring solutions is projected to further fuel the market revenue. In addition to this, paper-based laminates are beneficial in terms of wall cladding. They are highly resistant to extreme and harsh environments thus showcasing superior performance in terms of acting as a protective covering over external and internal walls.

The construction & building industry is one of the fastest-growing sectors with growing demand for residential and commercial spaces. The rising number of real estate investors and buyers in the form of office buildings, residential spaces, and others will fuel the investment rate in the global construction industry.

Emerging economies such as India and China are registering higher demand for affordable housing solutions, especially in metropolitan cities. In addition to this, regions are also registering higher investments in upgrading existing and older structures that are undergoing deterioration.

Growing use in the food packaging industry may further impact the market revenue rate

Paper-based laminates are increasingly being considered in the food packaging sector. They are used for their high durability and moisture-restricting functional capabilities. In June 2024, Mondelez, a global food brand, announced a strategic partnership with Saica Group to launch a paper-based packaging range for confectionary items.

The products will be available in laminate and single-ply form, thus benefiting the global paper-based laminates market. According to company claims, the product is suitable for the heat-sealable packing process and can be produced in non-coated or coated form.

Paper Based Laminates Market: Restraints

Competition from alternate solutions across the industry will restrict the market expansion rate

The global industry for paper based laminates is expected to be restricted due to the high competition faced from alternate solutions. For instance, the construction & building industry is actively investing in wooden veneers, quickly replacing paper-based laminates. Furthermore, acrylic surfaces have also gained higher popularity in recent times. The food & beverages industry is slowly being taken over by recycled or biodegradable plastics. Such intense competition from other solutions will impact demand for laminates made of paper.

Paper Based Laminates Market: Opportunities

Growing focus on biodegradable paper-based laminates will generate higher growth opportunities

The global paper based laminates market is expected to generate growth opportunities in the biodegradable segment. In April 2024, Parkside Flexible, a leading producer of paper-based alternatives to paper, announced the launch of Recoflex.

The new solutions are a part of paper-based flexible packaging materials offering barrier performance, durability, and heat sealability. The range is available in laminate and single-ply form. In February 2021, FreeForm Packaging launched stretchable paper laminate consisting of 85% paper.

According to the company claims, the product is one-sided laminate due to higher demand from brands and end-user companies. The product is called Standard Paper Out and replaces the traditionally used polythene layer on the outside with paper. The structure allows the product to gain a warm and natural feel.

The demand for biodegradable variants is further driven by growing consumer awareness about the importance of sustainable packaging and decorative solutions. According to a market survey, more people have shown an inclination toward companies that incorporate sustainable and environmentally conscious ethical options in business decisions.

Paper Based Laminates Market: Challenges

Changing prices of raw materials will impact the industry’s growth trend during the projection period

The global industry for paper based laminates is expected to be challenged by the varying prices of raw materials. Paper-based laminates rely heavily on a consistent supply of good-quality paper and specially developed resin. However, the raw materials are sensitive to the global economic order and trading relationships between countries. These factors are likely to impact the industry’s expansion trend during the projection period.

Paper Based Laminates Market: Segmentation

The global paper based laminates market is segmented based on end-user, packaging format, grade, and region.

Based on the end-user, the global market segments are cosmetics & personal care, healthcare & pharmaceuticals, food & beverages, homecare & hygiene, and others. In 2023, the highest growth was witnessed in the food & beverages industry.

The segmental demand is driven by the growing use of sustainable packaging solutions in the food packaging business. Moreover, paper-based laminates can be used to improve the outer appearance of the product while also protecting the stored content from deterioration. The global food industry is currently valued at over USD 9 trillion.

Based on packaging format, the global paper based laminates industry is divided into sachets, bags, pouches, stick packs, and blisters.

Based on the grade, the global market divisions are unbleached laminates and bleached laminates. The highest revenue was generated by the bleached laminates segment driven by several advantages offered by the variant over its counterpart.

Bleached laminates offer greater decorative appeal and hence can be used across industries such as personal care & cosmetics and food & beverages. Unbleached laminates enjoy the loyalty of niche end-users. Basic paper-based laminates can cost around USD 2 to USD 6 per square meter.

Paper-Based Laminates Market: Report Scope

Paper Based Laminates Market: Regional Analysis

Asia-Pacific to generate the highest revenue during the projection period

The global paper based laminates market is projected to be led by Asia-Pacific during the forecast period. According to regional market research, countries such as India and China will emerge as leading players due to the growing demand for paper-based laminates across major industries. India is expected to grow at a CAGR of more than 6%, whereas China will report a CAGR of around 5.5%.

India’s growth rate will be the result of increased initiatives by the regional government to support the domestic manufacturing industry while also promoting end-user sectors such as construction & buildings, food & beverages, and personal care & cosmetics. The growing demand for affordable housing solutions across major cities, as well as increased investments in smart city projects, will further help India cement its position in the regional market.

China, on the other hand, will be subjected to further growth due to the presence of a massive chemicals & materials industry. China is the world’s leading chemical producer and supplier in the global chemical industry.

Moreover, the strategic and aggressive expansion policies adopted by China to enter new markets could be beneficial to the regional market players.

Paper Based Laminates Market: Competitive Analysis

The global paper based laminates market is led by players like:

• Merino Laminates
• Panolam Industries
• Formica Group
• Royal Touche Laminates
• Arpa Industriale
• Greenlam Industries
• Sonae Arauco
• Abet Laminati
• Trespa International
• FunderMax
• Wilsonart
• Westag & Getalit AG
• Stylam Industries
• Resopal GmbH
• Pfleiderer Group

The global paper based laminates market is segmented as follows:

By End-User

• Cosmetics & Personal Care
• Healthcare & Pharmaceuticals
• Food & Beverages,
• Homecare & Hygiene
• Others

By Packaging Format

• Sachets
• Bags
• Pouches
• Stick Packs
• Blisters

By Grade

• Unbleached Laminates
• Bleached Laminates

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa