Decorative laminates are laminated products used as furniture surface materials or wall paneling. They are commonly used as an overlay over wooden furniture. Decorative laminates are an essential part of interior surfacing solution. Use of decorative laminates on wooden furniture surface provides a unique and stylish look to furniture in residential and non-residential buildings. Decorative laminates are used to laminate surfaces to protect them from wear and tear, scratches, and fire. They enhance the lifespan of surfaces and give them an attractive finish.
Key factors driving the decorative laminates market include upcoming cultural and fashion trends in interior designing, increase in demand from the flooring industry, cabinets, and rise in demand from the rebounding housing markets. Demand for decorative laminates is gaining momentum, led by the advancements in technology and growth of artistic innovations. Along with technological advances, production techniques have been improved in order to support new upcoming patterns and designs such as metal surfaces, and gloss and three dimensional surfaces.
Technical improvements have resulted in the development of next generation laminates with thin microscopic particles of aluminum oxide, which acts as a barrier or a protective layer that provides color/gloss retention and scratch resistance. Demand for laminates with wide range of styles, colors, designs and textures, which include wood, natural tile, ceramic, and metal has been increasing. This, in turn, is estimated expected to fuel the demand for decorative laminates. Constant innovations are expected to increase product diversification from conventional uses into new applications in the field of automobiles, electronics, and constructions, among others. High cost of high pressure decorative laminates acts as a restraint to market growth. This is expected to adversely affect the market growth in a few regions.
Based on manufacturing process, the decorative laminates market can be classified into high pressure decorative laminates (HPDL) and low pressure decorative laminates (LPDL). HPDL is composed of resin-impregnated kraft paper, decorative paper face material, and clear melamine-impregnated overlay. These sheets are bonded at different pressures and temperatures. LPDL is manufactured relatively at low pressures and temperatures. It is generally offered in panel form. It consists of decorative paper impregnated with melamine, resin which is bonded directly to the particleboard. LPDL paper is specifically engineered to be thermally fused onto a substrate. Therefore, it does not have the kraft paper core that distinguishes HPDL. Thus, impact resistance is lower. LPDL are low-cost, while HPDL is high-priced and more durable than LPDL.
Decorative laminates, due to their properties such as pleasing looks, water resistance, durability, microbe-resistant, and ease of maintenance, are used in a wide range of applications. Based on application, the market can be classified into flooring, furniture, cabinets, and wall panels.
In terms of geography, the decorative laminates market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America is anticipated to account for significant share of the market during the forecast period. Asia Pacific is estimated to be a rapidly growing region of the decorative laminates market, owing to the rise in demand for these laminates from residential and non-residential sectors. Increase in disposable income, economic growth, rise in standard of living, and growth in residential construction are some of the factors driving the market in Asia Pacific. Middle East & Africa is likely to be an attractive region of the decorative laminates market during the forecast period owing to the increase in the number of tourist hotels and growth in the construction industry in the region.
Key players operating in the global decorative laminates market include Kingboard Chemical Holdings Ltd, Roseburg Forest Products, Formica Group, and Wilsonart International.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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