United States Decorative Laminates Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
United States Decorative Laminates Market Analysis
The United States Decorative Laminates Market is estimated to reach USD 880 million by the end of this year and is projected to reach USD 992 million in the next five years, registering a CAGR of 2% during the forecast period.
- The COVID-19 pandemic has affected several industries negatively. The lockdown in the United caused disruptions in furniture production, as well as construction activities, and restrictions in freight transportation disturbed the supply chain. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
- Over the short term, the growth in residential construction and increasing consumption of furniture are major factors driving the growth of the market studied.
- However, the availability of substitutes like Veneer is likely to restrain the growth of the studied market.
- Nevertheless, development of aircraft laminates is likely create lucrative growth opportunities for the global market.
United States Decorative Laminates Market Trends
Furniture Industry to Dominate the Market
- In United States, the furniture industry is a well-established market that has shown significant growth in the past few years. The rising immigrant population is one of the driving factors for the furniture demand in the country.
- According to the US Census Bureau, Manufacturers' New Orders for Furniture and Related Products have grown by 30% from the Pandemic lows in April 2020. The average new orders were valued at USD 6745 million from January to Decemeber 2022.
- According to the Department of Commerce, Furniture and home furnishings sales in December 2022 were USD 11.504 billion, up 0.3% from December 2021's USD 11.473 billion.
- In June 2023, furniture and home furnishing sales totaled USD 689.5 billion, up 1.5% compared to June 2022's USD 679.4 billion. Through the first six months of 2023, the Department of Commerce estimated that total retail sales accounted for USD 4.043 trillion, up 3.2% in 2023 compared with 2022.
- Morover, quite a few companies are expanding operations to cater to the rising demand in the country.
- Ethnicraft, a Belgium-based supplier of high-end furniture, announced an investment of USD 18 million in a new building in the United States in July 2023. The building will house an office, full-scale showroom, and warehouse and serve as the company's U.S. headquarters.
- In June 2023, Furniture giant Ikea acquired Made4Net, a New Jersey-based supplier of warehouse management and supply chain software. The company intends to deploy Made4net omnichannel fulfillment solution across its stores and fulfillment points to modernize and future-proof omnichannel operations. The move is anticipated to improve supply chain visibility.
- Thus, considering the rising sales in the past year, increasing company operations and overall demand, the furniture industry will dominate the decorative laminates demand in the country.
Residential and Non-Residential Construction amongst the largest End-User Industries
- Decorative laminates are mostly used for flooring, wall panels, and furniture in the United States. The residential and non-residential construction markets primarily drive the demand for decorative laminates in the country. Home renovations and establishment of new offices are amongst the major growth contributors.
- According to the AIA (American Institute of Architects) Construction Consensus Forecast Panel, nonresidential building construction spending expanded to 5.4% in 2022. Further, U.S. expenditure on new private non-residential buildings peaked at over 539 billion U.S. dollars in 2022. By 2023, all the principal commercial, industrial, and institutional categories will witness at least reasonably healthy gains.
- Following are some major non-residential construction projects in the United States which are estimated to be completed by 2023 :
- Fontainebleau, Las Vegas - The 67-story hotel, gaming, meeting, and entertainment project construction which will include 3,700 hotel rooms, 550,000 square feet of convention and meeting space, as well as dining, gaming, retail, and experiences, focused on health and wellness.
- Amazon HQ2 - The first phase of the new Amazon HQ2 office space at National Landing, which began in January 2020, will be completed by 2023.
- According to the US Census Bureau, in the past 5 years from 2018 to 2022, the total value if construction has increased by almost 40%, with residential construction accounting for almost for more than 60% increase in total value of construction.
- The total value of residential construction in 2022 was USD 927 billion, an increase of 14.6% over 2021. The total value of non-residential construction in 2022 was USD 921 billion, an increase of 9% over 2021.
- The growing construction industry in the United States is going to add to the demand for decorative laminates over the forecast period.
United States Decorative Laminates Industry Overview
The United States Decorative Laminates Market is partially fragmented in nature. The major players (not in any particular order) include Omnova Solutions, Mohawk Industries Inc., LL Flooring, Merino Laminates, and Wilsonart International, among others.
United States Decorative Laminates Market Leaders
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LL Flooring, Inc.
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Merino Laminates Ltd.
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Mohawk Industries, Inc
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Wilsonart International
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OMNOVA Solutions, Inc.
*Disclaimer: Major Players sorted in no particular order
United States Decorative Laminates Market News
- October 2022: Uniboard Canada announced the appointment of Atlantic Plywood as a distributor for Uniboard products in the US Midwest. The offering will include 24 specifically selected colors of Uniboard's Thermally Fused Laminates (TFL) and High Pressure Laminates (HPL) product line.
- August 2022: LL Flooring opened three new stores in Abilene, Texas; Mundelein, Illinois; and Prescott Valley, Arizona, bringing its total retail footprint to 440 locations across the United States.
Table of Contents
1. Introduction
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. Research Methodology
3. Executive Summary
4. Market Dynamics
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4.1 Drivers
- 4.1.1 Growing Demand from the Construction Sector
- 4.1.2 Increased Consumption of Furniture
- 4.1.3 Low Cost of Installation and Maintenance
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4.2 Restraints
- 4.2.1 Availability of Substitutes
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. Market Segmentation (Market Size in Value)
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5.1 Raw Material
- 5.1.1 Plastic Resin
- 5.1.2 Overlays
- 5.1.3 Adhesives
- 5.1.4 Wood Substrate
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5.2 Application
- 5.2.1 Furniture
- 5.2.2 Cabinets
- 5.2.3 Flooring
- 5.2.4 Wall Panels
- 5.2.5 Other Applications (Table Tops and Counter Tops)
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5.3 End-User Industry
- 5.3.1 Residential
- 5.3.2 Non-residential
- 5.3.3 Transportation
6. Competitive Landscape
- 6.1 Merger & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Armstrong World Industries, Inc
- 6.4.2 Arpa Industriale SpA.
- 6.4.3 ATI Decorative Laminates
- 6.4.4 Formica Group
- 6.4.5 LL Flooring, Inc.
- 6.4.6 Merino Laminates Ltd.
- 6.4.7 Mohawk Industries, Inc
- 6.4.8 OMNOVA Solutions, Inc.
- 6.4.9 Panolam Industries International, Inc.
- 6.4.10 Shaw Industries Group, Inc.
- 6.4.11 Uniboard Canada, Inc.
- 6.4.12 Wilsonart International
- *List Not Exhaustive
7. Market Opportunities and Future Trends
- 7.1 Development of Aircraft Laminates
- 7.2 Other Opportunities
United States Decorative Laminates Industry Segmentation
Decorative laminates are predominantly used as furniture surface materials or wall paneling. They are primarily known for their aesthetic appeal and availability in various textures, patterns, colors, and finishes. Due to their decorative and protective properties, they are often used for furniture designs such as shelves, cabinets, doors, and office cubicles.
United States decorative laminates market is segmented by raw material, application, end-user industry, and geography. By raw material, the market is segmented into plastic resin, overlays, adhesives and wood substrates. By application type, the market is segmented into furniture, cabinets, flooring, wall panels, and other applications (table tops and counter tops). By end-user industry, the market is segmented into residential, non-residential, and transportation.
For each segment, the market sizing and forecasts have been done on the basis of value (USD).
| Raw Material | Plastic Resin |
| Overlays | |
| Adhesives | |
| Wood Substrate | |
| Application | Furniture |
| Cabinets | |
| Flooring | |
| Wall Panels | |
| Other Applications (Table Tops and Counter Tops) | |
| End-User Industry | Residential |
| Non-residential | |
| Transportation |
Frequently Asked Questions
What is the current United States Decorative Laminates Market size?
The United States Decorative Laminates Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in United States Decorative Laminates Market?
LL Flooring, Inc., Merino Laminates Ltd., Mohawk Industries, Inc, Wilsonart International and OMNOVA Solutions, Inc. are the major companies operating in the United States Decorative Laminates Market.
What years does this United States Decorative Laminates Market cover?
The report covers the United States Decorative Laminates Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Decorative Laminates Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States Decorative Laminates Industry Report
Statistics for the 2024 United States Decorative Laminates market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Decorative Laminates analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
