Ecommerce, New Products Help Reinvent Product Demand During COVID-19 Pandemic
To help companies, they must navigate the coronavirus outbreak; companies that sell decorative laminates have robust supply chains that cater to critical applications in the healthcare, retail, and the hospitality sector. ATI Decorative Laminates has recently announced its entry into the eCommerce industry to boost the market amid the COVID-19 epidemic for new and novel products, such as their Acrylic Divider Panels as Deco-Defender products.
Antibacterial laminates have created new business opportunities for producers in the market of decorative laminates. But, many remain hesitant about increasing the amount they spend on non-essential items like laminates, furniture, and furniture and interior items for the home. In these cases, eCommerce and social media platforms are helping boost the market’s sales by increasing consumer demand for antibacterial and antibacterial coatings.
Veneer vs. Laminate What is the Best Choice?
Laminates tend to be more budget-friendly and less expensive than veneer. In terms of aesthetics, veneers are more refined and beautiful than laminates, as they are mass-produced and do not have uniqueness. In terms of diversity, manufacturers in the market for decorative laminates profit from this benefit since the laminates are available in high-gloss, textured, matte and soft appearances. However, veneers are offered in limited shades made of paper backing, lay-up, and reconstituted materials.
Veneers require more attention to maintenance as opposed to laminates. These advantages translate into business owners’ opportunities in the decorative laminate market. They are increasing the number of waterproof and scratch-resistant laminates.
Residential Remodeling, Office Spaces Fuel Demand for Decorative Laminates
The market for decorative laminates is expected to reach US$1 72.1 Bn by 2030. Manufacturers are increasing their revenue streams to offices and commercial spaces. Modern 1mm laminates are increasing in popularity due to their tranquil and relaxing atmosphere in Indian offices. The majority of customers prefer zero-finish laminates in high-traffic areas like offices.
Laminates for countertops and cabinets are becoming more popular in the home remodeling and design market. Manufacturers of the design and decorative market have been expanding the number of cost-effective laminates so that consumers can spend on other essential items for renovations in their homes. This is why manufacturers are becoming aware of granite texture counter tops and glossy and matte finish laminates, which provide contemporary design in residential areas.
Synchronized Laminates Impersonating Genuine Wood Gaining Popularity in Interior Decor
Alongside low and high-pressure laminates, companies operating in the market for decorative laminates are expanding their production capacities in synchronized laminates, and PVC (Poly Vinyl Chloride) laminates to increase their income streams. The marketplace is predicted to grow at a healthy CAGR of about 6 percent over the forecast time. Synchronized laminates are promoted as an enriching overlay that looks like authentic wood. Manufacturers are creating these overlays using designs that replicate the natural wood grain.
The ability to design and experiment with various laminates leads to revenue opportunities for companies working in the market for decorative laminates. Laminates with a high-gloss finish are becoming used in interior decor.
|Decorative Laminates Market Report Scope and Segmentation|
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
BWR Laminates, DNV-accredited Companies Competitive Edge in India
Manufacturers of the decorative laminates industry are increasing their capabilities of producing high-pressure laminates, pre-laminated particle boards, and medium density fiber (MDF) boards to take advantage of the opportunities for growth in India. For example, Century Plywood India Ltd. (CPIL) is working to gain expertise in producing Boiling water-resistant (BWR) Decorative Veneers and Laminates.
Businesses in India India’s industry of decorative laminates are stepping up efforts to comply with ISO (International Organisation to Standardization) standard. They seek certification through organizations like the UKAS Environmental Management and the Det Norske Veritas (DNV) to increase their competitiveness in this Indian market. High-gloss laminates are increasingly popular to add more depth to smaller spaces because of their light reflection characteristics.
Decorative Laminates Market: Overview
- Laminates with decorative properties give elegant designs to walls, furniture floorings, and many other kinds of construction. The raw materials needed to produce decorative laminates include vinyl, wood, plastic resin, and paper.
- Laminates with decorative designs protect furniture from damage, fire, and everyday wear and wear and tear. They are available in various designs, colors, and textures to meet the specifications of different industries.
- These decorative laminates extend the life of surfaces and provide the surface with a beautiful surface. There are two kinds of decorative materials: low-pressure laminates as well as high-pressure laminates. Lower pressure laminates tend to be inexpensive, whereas High-pressure laminates can be more expensive and durable.
Drivers of Decorative Laminates Market
- The market for decorative laminates worldwide is growing. These laminates are low-maintenance and are easy to find. Thus, decorative laminates are widely preferred over wood flooring. Interior decoration is a trend that has been increasing all over the world. The demand for attractive interiors for gymnasiums, convention centers, and indoor clubs is expected to open new avenues for the market for decorative laminates. The trend towards healthier lifestyles and a rise in the interest in interior design and renovation are expected to be the main drivers of the world marketplace for decorative laminates.
- The market for decorative laminates is, in turn, driven by the rise in the demand for these laminates in the home industry. They are now integral to large and growing markets like furniture, real estate, and modular kitchens. Costs for installation and maintenance associated with decorative laminates are predicted to increase the growth of the market for decorative laminates in the world over the next couple of years. The rapid expansion of the residential sector in both urban and semi-urban areas and the increase in the renovation and reconstruction of buildings across North America and Europe are believed to be significant contributors to the market’s overall growth. The substantial expansion of manufacturing and services has resulted in a significant increase in the world’s GDP. This is, in turn, beneficial to the market for decorative laminates.
Critical Challenges for Decorative Laminates Market
- The decorative laminates originate from phenolic resins, melamine Methanol, formaldehyde, and methanol. They are used in a variety of industries with end-use. The regulations governing phenolic resins and Melamine could hinder the worldwide decorative laminate market. Government regulations are strict, and other regulations have been enacted in response to the growing concern about the harm that phenolic resins and Melamine on the planet. In excess, the use of plastic products in laminates with decorative features is prohibited by various nations.
- The high costs of raw materials are expected to hinder the worldwide market for decorative laminates. Raw materials like Melamine, phenolic resins formaldehyde and methanol, tissue newspaper, Kraft papers, wood logs, and various chemicals are used to produce decorative laminates. The prices of those raw ingredients are pretty high. This can increase the overall price of the decorative laminates and, consequently, hampers the market.
Lucrative Opportunities for Players in Decorative Laminates Market
- Influential players such as Fletcher Building Limited, Aica Kogyo Co., Ltd., OMNOVA Solutions Inc., and Greenlam Industries Ltd. can be focused on expanding their reach globally by utilizing strategic capital allocation and the expansion of production capacity.
- Businesses should concentrate on improvements to their products to generate new customers for their existing products. This will help attract customers and increase the quality of the products.
Key Market Segments
- By Product Type
- High Pressure Laminates
- Low Pressure Laminates
- By Application
- Furniture and Cabinets
- By End Use
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
Leading Players in Decorative Laminates Market
- Global players that dominate the marketplace for decorative laminates are
- Fletcher Building Limited
- Aica Kogyo Co., Ltd.
- OMNOVA Solutions Inc.
- Greenlam Industries Ltd.
- Wilsonart LCC
- Abet Laminati S.p.A.
- Archidply Industries Limited.
- FunderMax Gmbh
- Panolam Industries International, Inc.
- Stylam Industries Ltd (India)
- Companies thatoperating in the global decorative laminates industry are implementing different organic and inorganic strategies for growth, such as mergers and acquisitions, brand new products,, collaborations with strategic partners, and joint ventures to expand their portfolio of products and operations.