Report ID: 10085839 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
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.
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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.
Market Segmentation
Our in-depth analysis of the global decorative high-pressure laminates (HPL) market includes the following segments:
By End-Users
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Residential
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Non-Residential
By Application
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Flooring
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Furniture
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Cabinets
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Others
Growth Drivers and Challenges Impacting the Growth of the Global Decorative High Pressure Laminates (HPL) Market
Growth Drivers
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Increase in the urbanization population
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Rise in the population
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Increase in the commercial and residential projects
Challenges
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Requirement of huge capital by the new market entrants
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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:
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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.
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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
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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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.
Frequently Asked Question
The market is segmented by end-users, application, and by region.
The furniture segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.
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Report ID: 10085839 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
