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

The Report Covers Global Decorative Laminates Manufacturers and it is Segmented by Raw Material (Plastic Resin, Overlays, Adhesives, Wood Substrate, and Others), Application (Furniture, Cabinets, Flooring, Wall Panels, and Others), End-user Industry (Residential, Non-residential, and Transportation), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Decorative Laminates Market Size

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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 Market Trends

This section covers the major market trends shaping the Decorative Laminates Market according to our research experts:

Furniture Application to Dominate the Market

  • Decorative laminates are used in various applications in the furniture industry. Decorative laminates are primarily used on wooden furniture to give it a more attractive look. It is mainly decorative or kraft paper soaked in phenyl formaldehyde. 
  • The growing middle-class population, coupled with increasing disposable incomes, has facilitated an expansion in the middle-class housing segment, thereby, increasing the demand for furniture, globally.
  • China has the largest furniture industry in the world in terms of production, consumption as well as exports. The growing non-residential sector in the country is driving the demand for furniture in the country, which is further projected to support the demand for the decorative laminates in the near future.
  • Additionally, the development of smart cities all over the world is rapidly increasing in recent times. By 2020, the smart city industry is expected to grow, with a revenue of around USD 400 billion. 
  • Thus growing construction activities is expected to boost the demand for furniture which further is expected to boost the demand for the market studied in coming years. 
Decorative Laminates Market,  Revenue (%), by Application, Global, 2019

Asia-Pacific Region to Dominate the Market

  • 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 owing to the increasing consumption from countries such as China, India, and Japan.
  • Increasing construction activities in countries such as China, India, Japan among others are expected to boost the demand for furniture, wall panels, cabinets, etc. which further is expected to drive the demand for decorative laminates in the coming years.
  • In China, there are numerous airport construction projects that are either in development or the planning phase. These include Beijing Capital International Airport, Chengdu Shuangliu International Airport, Chongqing Jiangbei International Airport, and Guangzhou Baiyun International Airport, among others.
  • According to Invest India, the Indian construction industry is expected to grow at a CAGR of 15.7% from 2017-2022 and is projected to value USD 738.5 billion in 2022. Additionally, initiatives, such as 'Housing for All' and 'Smart City Mission', is expected to drive the growth of the construction sector in India.
  • Furthermore, countries such as Japan, ASEAN countries have also been contributing to the growth of the market studied. Such factors are expected to further drive the demand for decorative laminates market over the forecast period.
Decorative Laminates Market - Growth Rate by Region, 2020-2025

Decorative Laminates Industry Overview

The global decorative laminates market is partially fragmented in nature with many healthy competitors in the market. The major companies are Greenlam Industries Limited, Merino Laminates Ltd, OMNOVA Solutions Inc., FunderMax, and Wilsonart LLC among others.

Decorative Laminates Market Leaders

  1. OMNOVA Solutions Inc.

  2. Wilsonart LLC

  3. Merino Laminates Ltd

  4. Greenlam Industries Limited

  5. FunderMax

*Disclaimer: Major Players sorted in no particular order

Decorative Laminates Market Concentration
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Decorative Laminates Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Construction Industry in the Asia-Pacific Region

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Raw Material

      1. 5.1.1 Plastic Resin

      2. 5.1.2 Overlays

      3. 5.1.3 Adhesives

      4. 5.1.4 Wood Substrate

      5. 5.1.5 Others

    2. 5.2 Application

      1. 5.2.1 Furniture

      2. 5.2.2 Cabinets

      3. 5.2.3 Flooring

      4. 5.2.4 Wall Panels

      5. 5.2.5 Others

    3. 5.3 End-user Industry

      1. 5.3.1 Residential

      2. 5.3.2 Non-residential

      3. 5.3.3 Transportation

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Abet Laminati S.p.A.

      2. 6.4.2 AICA Laminates India Pvt. Ltd.

      3. 6.4.3 Airolam decorative laminates

      4. 6.4.4 Archidply

      5. 6.4.5 Bell Laminates

      6. 6.4.6 Broadview Holding (Formica Group)

      7. 6.4.7 Fletcher Building

      8. 6.4.8 FunderMax

      9. 6.4.9 Greenlam Industries Limited

      10. 6.4.10 Kronoplus Limited

      11. 6.4.11 Merino Laminates Ltd

      12. 6.4.12 OMNOVA Solutions Inc.

      13. 6.4.13 Panolam Industries International, Inc.

      14. 6.4.14 Stylam Pvt. Ltd.

      15. 6.4.15 Wilsonart LLC.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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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 Research 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.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Decorative Laminates Market.

The report covers the Decorative Laminates Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Decorative Laminates Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Decorative Laminates Industry Report

Statistics for the 2024 Decorative Laminates market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Decorative Laminates analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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