Decorative Laminates Market Growth, Size, Share, Trends, and Forecast 2030

Decorative Laminates Industry Prospective:

The global decorative laminates market size was evaluated at $8 billion in 2022 and is slated to hit $13 billion by the end of 2030 with a CAGR of nearly 7.2% between 2023 and 2030.

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Decorative Laminates Market: Overview

Decorative laminates are sheet laminates of decorative printed papers as well as brown Kraft papers combined by using heat as well as pressure. These products offer protection to furniture from corrosion, fire, and scratches. They are also utilized in wall paneling and furniture surface substances. These products demonstrate anti-fungal and anti-bacterial features and are highly resistant to stains as well as moisture. Apparently, they help in enhancing the lifespan of any surfaces and impart an attractive finishing touch to them. Utilization of decorative laminates imparts an exceptional & stylish look to the furniture in residential & non-residential sectors.

Key Insights

• As per the analysis shared by our research analyst, the global decorative laminates market is projected to expand annually at the annual growth rate of around 7.2% over the forecast timespan (2023-2030)
• In terms of revenue, the global decorative laminates market size was evaluated at nearly $8 billion in 2022 and is expected to reach $13 billion by 2030.
• The global decorative laminates market is anticipated to grow rapidly over the forecast timeline owing to the rise in the use of product in the oil & gas segment.
• In terms of type, the high-pressure laminates segment is slated to register the highest CAGR over the analysis period.
• Based on application, the cabinets & furniture segment is projected to record a massive surge in the coming years.
• Region-wise, the Asia-Pacific decorative laminates industry is expected to register the fastest CAGR during the assessment timeline.

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Decorative Laminates Market: Growth Factors

Rise in the penetration of products in the construction sector to boost global market trends

The rapidly expanding construction sector and enhancement in living standards will prompt the expansion of the decorative laminates market over the estimated timespan. In addition to this, low deployment costs as well as the reduction in maintenance costs of the product will embellish the global market trends. Technological breakthroughs in texture & printing procedures proliferate the global market size in the years ahead. Furthermore, massive product demand in flooring activities along with altering fashion trends will steer the expansion of the market over the forecast timespan.  

Additionally, growing artistic developments and the launching of new designs & patterns on metal surfaces, wood, ceramics, natural tiles, and gloss as well as 3D surfaces will escalate the expansion of the market in the forthcoming years. Strategic alliances and capacity expansions are predicted to make notable contributions toward the global market proceeds in the near future. For instance, in the last quarter of 2021, Wilsonart, a key manufacturer and distributor of decorative laminates, increased its production capacity by establishing a new unit in Oregon in the U.S. Furthermore, in the first half of 2022, Panolam Industries International Inc., a key player producing high-pressure laminates & thermally-fused laminates, signed an agreement with Specialty Laminates, a key manufacturer of thermally-fused laminates, for expanding thermally fused laminates product line of both firms.

Decorative Laminates Market: Restraints

High product costs can hamper the expansion of the global industry over 2023-2030

Rising product costs will put brakes on the global decorative laminates industry growth over the ensuing years. Fluctuating raw component prices are likely to impede the total sales of the product in the upcoming years.

Decorative Laminates Market: Opportunities

Low maintenance costs can create new growth opportunities for the global market

Elongated shelf life along with high heat resistance, moisture resistance, and abrasion resistance is projected to open new growth avenues for the global decorative laminates market. Moreover, lower maintenance charges and reduction in deployment costs will further pave the way for the global market surge in the upcoming years.

Decorative Laminates Market: Challenges

Stringent legislation executed by the government pertaining to product usage can prove to be a huge challenge for the global industry

Strict laws implemented by the government related to the use of the product can prove to be a big challenge in the growth path of the global decorative laminates industry in the years to come.

Decorative Laminates Market: Segmentation

The global decorative laminates market is sectored into raw material, end-use sector, application, type, and region.

In type terms, the global decorative laminates market is segregated into low-pressure laminates and high-pressure laminates segments. Furthermore, the high-pressure laminates segment, which acquired approximately 58% of the global market revenue in 2022, is anticipated to register the highest growth rate in the next eight years. The growth of the segment during the projected timespan can be attributed to a rise in the penetration of high-pressure decorative laminates in construction activities.

Based on the application, the global decorative laminates industry is sectored into cabinets & furniture, flooring, tabletop, countertop, and wall panels segments. Moreover, the cabinets & furniture segment, which accumulated the largest share of the global industry in 2022, is anticipated to lead the segmental landscape in the next couple of years. The expansion of the segment in the ensuing years can be subject to a rise in the use of decorative laminates in cabinets & furniture production to enhance the durability and longevity of the latter.  

Based on the raw material, the decorative laminates market globally is bifurcated into plastic resins, overlays, adhesives, and wood substrate segments.  

Based on the end-use sector, the global decorative laminates industry is divided into non-residential, residential, and transportation segments.  

Decorative Laminates Market: Report Scope

Decorative Laminates Market: Regional Insights

North America is predicted to maintain its dominant position in the global decorative laminates market over the prognosis timeframe

North America, which amassed approximately 55% of the global decorative laminates market revenue share in 2022, is predicted to dominate the regional sphere in the upcoming years. Additionally, the regional market expansion over the coming eight years can be attributed to the rise in the demand for decorative laminates in bathroom components and the construction of panels in buildings. Apart from this, the presence of key players in countries such as the U.S. and Canada will proliferate the growth of the market in the region.

The Asia-Pacific decorative laminates industry is set to register the highest CAGR in the ensuing years subject to favorable government schemes about the use of products implemented in the countries such as India and China. Apart from this, a high focus of the respective governments on bringing a paradigm shift in infrastructural growth will further define the growth of the industry in the sub-continent.

Decorative Laminates Market: Competitive Space

The global decorative laminates market profiles key players such as: Wilsonart International Inc.

• Greenlam Industries Limited
• Stylam Industries Limited
• Omnova Solutions Incorporation
• Panolam Industries International Inc.
• Fletcher Building Limited
• Archidply Industries Limited
• Merino Group
• Laminati S.p.A.
• FunderMax Gmbh

The global decorative laminates market is segmented as follows:

By Raw Material

• Plastic Resins
• Overlays
• Adhesives
• Wood Substrate

By Application

• Cabinets & Furniture
• Flooring
• Tabletop
• Countertop
• Wall Panels

By End-Use Sector

• Non-Residential
• Residential
• Transportation

By Type

• Low-Pressure Laminates
• High-Pressure 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