Decorative Laminates Market Size (2024 - 2029)

The decorative laminates market is anticipated to experience growth, driven primarily by the expanding construction industry in the Asia-Pacific region. Despite challenges posed by the COVID-19 pandemic, the market's expansion is supported by the furniture application sector, which is expected to lead the market. The Asia-Pacific region is projected to not only dominate the market size but also emerge as the fastest-growing area during the forecast period.

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Market Size of Decorative Laminates Industry

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Decorative Laminates Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 3.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Decorative Laminates Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Decorative Laminates Market Analysis

The global market for decorative laminates is expected to grow at a CAGR of more than 3% during the forecast period. The major factor driving the market studied is the growing construction industry in the Asia-Pacific region. On the flip side, unfavorable conditions arising due to the COVID-19 outbreak is hindering the growth of the market.

Furniture application is expected to dominate the market studied over the forecast period owing to the increasing construction industry. 

Asia-Pacific region is expected to dominate the global decorative laminates market and is also forecasted to be the fastest-growing region over the forecast period.

Decorative Laminates Industry Segmentation

The Decorative Laminates market report includes:

Raw Material
Plastic Resin
Overlays
Adhesives
Wood Substrate
Others
Application
Furniture
Cabinets
Flooring
Wall Panels
Others
End-user Industry
Residential
Non-residential
Transportation
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Decorative Laminates Market Size Summary

The decorative laminates market is poised for growth, driven primarily by the burgeoning construction industry in the Asia-Pacific region. This growth is expected despite challenges posed by the COVID-19 pandemic. The market is anticipated to see significant demand from the furniture sector, which is a major application area for decorative laminates. These laminates, often used to enhance the aesthetic appeal of wooden furniture, are gaining traction due to the rising middle-class population and increasing disposable incomes, which are fueling the expansion of the middle-class housing segment globally. The Asia-Pacific region, particularly China, is expected to lead the market, supported by its robust furniture industry and growing non-residential sector, which are anticipated to bolster the demand for decorative laminates.

The Asia-Pacific region is projected to be the fastest-growing market for decorative laminates, with countries like China, India, and Japan contributing significantly to this growth. The surge in construction activities in these countries, including numerous airport projects in China and initiatives like 'Housing for All' and 'Smart City Mission' in India, are expected to drive the demand for furniture and, consequently, decorative laminates. The market is characterized by a partial fragmentation with several key players such as Greenlam Industries Limited, Merino Laminates Ltd, OMNOVA Solutions Inc., FunderMax, and Wilsonart LLC competing for market share. These companies are well-positioned to capitalize on the increasing demand driven by construction and furniture applications in the region.

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Decorative Laminates Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Construction Industry in the Asia-Pacific Region

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porters Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Raw Material

      1. 2.1.1 Plastic Resin

      2. 2.1.2 Overlays

      3. 2.1.3 Adhesives

      4. 2.1.4 Wood Substrate

      5. 2.1.5 Others

    2. 2.2 Application

      1. 2.2.1 Furniture

      2. 2.2.2 Cabinets

      3. 2.2.3 Flooring

      4. 2.2.4 Wall Panels

      5. 2.2.5 Others

    3. 2.3 End-user Industry

      1. 2.3.1 Residential

      2. 2.3.2 Non-residential

      3. 2.3.3 Transportation

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

Decorative Laminates Market Size FAQs

The Decorative Laminates Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

OMNOVA Solutions Inc., Wilsonart LLC, Merino Laminates Ltd, Greenlam Industries Limited and FunderMax are the major companies operating in the Decorative Laminates Market.

Decorative Laminates Market Report Snapshots

Decorative Laminates Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)