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Decorative High-Pressure Laminates Market Research Report—Forecast till 2023

Report / Search Code: MRFR/CnM/6274-CR Publish Date: April, 2019

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Description: Global Decorative High-Pressure Laminates (HPL) Market: Information by

Application (Furniture & Cabinets), by End-Users (Residential, Commercial), and
by Region (North America, Europe, Asia-Pacific, Latin America, Middle East &
Africa)—Forecast till 2023
Decorative High-Pressure Laminates (HPL) Market is projected to register a healthy CAGR
of 5.3% to reach USD 14,857 million by 2023.

Decorative high-pressure laminates (HPL) are manufactured by saturating multiple layers of Kraft
papers with phenolic resin, fused using heat and pressure (more than 1,000 PSI). A layer of printed
decor paper is placed on top of the Kraft paper before applying pressure. As thermoset plastics such
as phenolic and melamine resins are used, the curing process transforms the resin into plastic by
cross-linking, which converts the paper sheets into a single, rigid laminates sheet. These laminates
are a common choice for horizontal surfaces including countertops, desktops, and flooring owing to
their durability. They increase the lifespan of surfaces and offer an attractive finish.

The surging demand for decorative high-pressure laminates in the construction industry in the
emerging countries of Asia-Pacific is expected to drive the global market growth during the forecast
period. Factors such as the rapidly growing construction industry, substitute for high-cost floorings,
growing investments for infrastructural development, and increasing disposable income are likely to
favor the global market growth in the coming years. There is a rise in the adoption of the product in
the construction of ready-to-assemble (RTA) furniture, toilet cubicle systems, laboratory tables, and
kitchen tops on account of their high durability and aesthetic appeal.

Market Dynamics

The growing consumption of HPL in the residential and commercial buildings in the manufacturing of
cabinets, countertops, tabletops, case goods, wood panels, and flooring is expected to boost the
global market growth. In addition, an unlimited variety of color, finishing surfaces, thickness range,
and dimensions depending on the requirement are further projected to drive the global market growth
in the coming years. Moreover, the building and construction industry is almost saturated in North
America and Europe, and decorative HPL find applications in the renovation of existing commercial
and residential buildings. In Asia-Pacific, China and India are the major consumers of decorative
HPL owing to a rapid increase in the population accompanied by expansion of the economy, which
ultimately results in an increase in per capita income.

Furthermore, low maintenance and installation costs of decorative HPL is likely to boost the global
market growth. HPL is easy to install as compared to hardwood floors and other substitutes.
Moreover, they serve as an excellent option for flat top surfaces such as wall paneling, countertops,
and desks/benches in schools. They can be installed easily by using laminate glue or resin without
any professional help, due to which they require less installation costs. Also, these laminates are
easy to maintain and can be cleaned easily.

Global Decorative High-Pressure Laminates Market Revenue, by End Users, 2017 (USD
Million)
Sources: MRFR Analysis

Segmentation

Based on application, the furniture & cabinets segment held the largest market share of 59.9% in
2018 and is estimated to register the highest CAGR of 5.36% during the review period due to the
upsurge in the use of ready-to-assemble (RTA) furniture and cabinets. Moreover, advanced design
in decorative laminates for furniture & cabinets is expected to add up to the growth of the segment.

On the basis of end-users, the residential segment dominated the global market with a market share
of 57.94% in 2018 and was valued at USD 6,649.4 million. This is attributed to the growing adoption
of HPL in flooring, RTA furniture, and in home décor, to manufacture furniture such as sofa, beds,
and tables.

Global Decorative High-Pressure Laminates Market Share, by Region, 2017 (%)

Sources: MRFR Analysis

Regional Analysis

The Asia-Pacific market dominated the global market accounting the largest share of 47.5% in 2018
and is estimated to register a significant CAGR of 5.61% by the end of 2024. This is attributed to the
increasing investments in the emerging economies of South-East Asia including Thailand, Indonesia,
Singapore, and Myanmar for infrastructural development. Other factors such as a rapid growth of
population and economy which ultimately results in the growth of per capita consumption is further
expected to propel the regional market growth. Furthermore, increasing disposable income in
developing countries leads to an increase in spending on home interiors, which further boosts the
regional market growth.
The North American market accounted for the second-largest market share of 23.56% in 2018 and is
likely to exhibit a notable CAGR of 4.71% during the assessment period owing to the high
consumption of HPL in cabinets and commercial applications. Moreover, the presence of major
manufacturers of HPL such as Formica Corporation, Wilsonart LLC, and OMNOVA Solutions Inc
further help in serving the products for diverse applications in furniture and flooring.

Key Players
The prominent players in the global decorative high-pressure laminates market are Formica
Corporation (US), Greenlam Industries Limited (India), Merinolaminates (India), Stylam
Industries Limited (India), Pfleiderer (Germany), Wilsonart LLC (US), OMNOVA Solutions Inc
(US), Abet Laminati S.p.A. (Italy), Panolam Industries International, Inc (US), and Fundermax
(Austria), among others.
Some of the key strategies followed by the players operating in the global decorative high-pressure
laminates market are expansion, acquisitions, and product launches.
In December 2018, Formica, a subsidiary of Fletcher
Building, was acquired by Broadview Industries. The
Fletcher Building signed a sale–purchase agreement
which brought together two leading companies in the
international decorative surfacing industry. The agreement
includes sale of Formica’s businesses in North America,
Asia, and Europe, as well as its Homapal metal laminates
business. With the combined expertise of Formica’s global
presence and operational and commercial capabilities and
Broadview’s unique and innovative product technologies,
both companies will gain significant market shares.
In July 2018, Wilsonart acquired Laminate Works Dallas, a
division of Laminate Works Inc, a Kansan City-based
manufacturer of decorative high-pressure laminates (HPL)
panels. This acquisition will help the company to expand its
production capacity of HPL panels. In addition, it will offer
surfacing options across a broad range of materials in the
North American market.
In October 2017, Greenlam launched its new design of
laminates under its flagship brand—Greenlam Laminates.
This new range of laminates includes over 12 collections in
alignment with customers’ preferences. The product range
includes HD Gloss, Designer Collection, Super Gloss,
Synchro, Stucco, Stone Collection, Textile Nuovo,
Naturalle, Smoked, Olmo, Wood Horizontal, Woodgrain,
and Pearlescent. This development helps in catering
customer demand and expands its product portfolio in
laminates.

Market Segmentation
Global Decorative High-Pressure Laminates Market, by Application
Furniture & Cabinets
Flooring & Wall Panels

Global Decorative High-Pressure Laminates Market, By End Users

Residential
Commercial
Transportation

Global Decorative High-Pressure Laminates Market, By Region

North America
US
Canada

Europe
Germany
France
Spain
Italy
UK
 Russia
Rest of Europe

Asia-Pacific
China
India
Japan
South Korea
Australia & New Zealand
Indonesia
Malaysia
Thailand
Rest of Asia-Pacific

Latin America
Mexico
Brazil
Rest of Latin America

Middle East & Africa

Egypt
South Africa
Saudi Arabia
UAE
Israel
Rest of the Middle East and Africa

Available Additional Customizations

Company Profiles of Other Key Players

1. Century Laminates

2. Royale Touche

3. Arborite

4. AICA Laminates India Pvt. Ltd

Decorative High-Pressure Laminates market PESTEL analysis

Intended Audience
Decorative High-Pressure Laminates Manufacturers
Raw Material Suppliers
Suppliers and Traders
Government, Associations, and Industrial Bodies
Investors and Trade Experts
End Users
 Infographic Summary:

Contents:

Contents

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TABLE OF CONTENTS

− 1 EXECUTIVE SUMMARY

1.1 Market Attractiveness Analysis 17

1.1.1 Global Decorative High-Pressure Laminates (HPL) Market, By Region 17

+ 2 MARKET INTRODUCTION

3 MARKET INSIGHTS
 + 4 RESEARCH METHODOLOGY

+ 5 MARKET DYNAMICS

+ 6 MARKET FACTOR ANALYSIS

+ 7 GLOBAL DECORATIVE HIGH-PRESSURE LAMINATES (HPL) MARKET,

BY APPLICATION

+ 8 GLOBAL DECORATIVE HIGH-PRESSURE LAMINATES (HPL) MARKET,

BY END-USERS

+ 9 GLOBAL DECORATIVE HIGH-PRESSURE LAMINATES (HPL) MARKET,

BY REGION

+ 10 COMPETITIVE LANDSCAPE

+ 11 COMPANY PROFILES

12 CONCLUSION

+ 14 LIST OF TABLES

+ 15 LIST OF FIGURES

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