Decorative High Pressure Laminates (HPL) Market Segmentation by End-Users (Residential, and Non-Residential); and by Application (Flooring, Furniture, Cabinets, and Others)-Global Demand Analysis & Opportunity Outlook 2031
21 Oct 2022
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022...
The Research Report is Updated with 2022 Base Year, 2023 Estimated year and Forecast till 2035 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2022 as base year, 2023 as estimated year and forecast to 2035. This will have market drivers, recovery rate in the market, insights and competitive analysis.
Global Decorative High-Pressure Laminates (HPL) Market Highlights Over 2022 - 2031
The global decorative high-pressure laminates (HPL) market is estimated to grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The market registered a revenue of approximately USD 9276.0 million in 2021. The growth of the market can be attributed to the increase in the urbanization percentage that will result in more residential and commercial projects in the urban area. As per the World Bank, the percentage of the world population living in cities has increased to 56% of the total population in 2020 from 47% in 2000. Furthermore, the value of the residential property also rises with the use of decorative high-pressure laminates as they come in different sizes and colors that can be customized according to the need of the customers. Moreover, there has been a rise in the population, resulting in more projects that require decorative high-pressure laminates. According to the World Bank, the total population has increased from 6.11 billion in 2000 to 7.76 billion in 2020.
GET A SAMPLE COPY OF THIS REPORT
The COVID-19 pandemic had a negative impact on the global decorative high-pressure laminates (HPL) market owing to the restrictive measures taken by the government. The raw material required for the lamination was not available, making it difficult for the manufacturer to carry on their projects. Moreover, consumers were spending less on non-essential commodities owing to government restrictions.
The global decorative high-pressure laminates (HPL) market is segmented by application into flooring, furniture, cabinets, and others. Out of which, the furniture segment is expected to hold the largest share over the forecast period in the global decorative high-pressure laminates (HPL) market. This can be attributed to the increase in residential and commercial projects that require fancy furniture to give a better view. Moreover, there has been an increase in the demand for lamination from furniture manufacturers as they give long lasting effects to the furniture
Global Decorative High-Pressure Laminates (HPL) Market Regional Synopsis
Regionally, the global decorative high-pressure laminates market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness modest growth over the forecast period on the back of increase in the population and urbanization. Furthermore, this increase in urbanization and population is expected to result in the rise of residential and commercial projects for which decorative high-pressure laminates can be used. As per the World Bank, the total population of China has increased to 1.41 billion in 2020 from 1.26 billion in 2000. Moreover, India’s total population has also risen from 1.06 billion in 2000 to 1.38 billion in 2020, as per the World Bank.
Our in-depth analysis of the global decorative high-pressure laminates (HPL) market includes the following segments:
Growth Drivers and Challenges Impacting the Growth of the Global Decorative High Pressure Laminates (HPL) Market
Increase in the urbanization population
Rise in the population
Increase in the commercial and residential projects
Requirement of huge capital by the new market entrants
High cost for the decorative high-pressure laminates
Key Companies Dominating the Global Decorative High-Pressure Laminates (HPL) Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global decorative high-pressure laminates (HPL) market that are included in our report are Wilsonart LLC, Panolam Industries International, Inc., Formica Group, Gentas, Abet, Inc., FunderMax, Stylam Industries Limited, OMNOVA Solutions Inc., Merino Laminates Ltd., Kronospan Limited and others.
Latest Developments in the Global Decorative High-Pressure Laminates (HPL) Market:
10 November 2021: Wilsonart LLC, announced its partnership with HomeSphere to serve the homebuilder market. The company will benefit from the newly created alliance by way of a special incentive scheme that will assist the company expand and foster partnerships with the new residential community.
17 October 2019: Panolam Industries International, Inc., introduced the YesteryearsTM Collection, a collection of 20 new and nostalgic designs inspired by some of Nevamar's most popular patterns over the past 80 years, including rich woodgrains, abstractions, and solids.
Key Reasons to Buy Our Report
The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact the market growth.
The report includes detailed company profiles of the major players dominating the market.
We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
What are the major factors driving the growth of the decorative high pressure laminates (HPL) market?
Increase in the urbanization percentage, rise in the population and increase in the commercial and residential projects are the major factors driving the growth of the decorative high pressure laminates (HPL) market
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022-2031.
Requirement of huge capital by the new market entrants and high cost for the decorative high pressure laminates are estimated to hamper the market growth.
Which region will provide more business opportunities for growth of decorative high pressure laminates (HPL) market in future?
Asia Pacific region will provide more business opportunities for growth of decorative high pressure laminates (HPL) market in future.
The major players in the market are Wilsonart LLC., Panolam Industries International, Inc., Formica Group, Gentas, Abet, Inc., FunderMax, Stylam Industries Limited, OMNOVA Solutions Inc., Merino Laminates Ltd., Kronospan Limited, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by end-users, application, and by region.
Which segment captures the largest market size in application segment in the decorative high pressure laminates (HPL) market?
The furniture segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.
Please enter your personal details below
- Wilsonart LLC
- Panolam Industries International, Inc.
- Formica Group
- Abet, Inc.
- Stylam Industries Limited
- OMNOVA Solutions Inc.
- Merino Laminates Ltd.
- Kronospan Limited