High Pressure Laminate (HPL) Market: Overview
High pressure laminate (HPL) is a type of decorative laminate which is manufactured by impregnating kraft paper with the help of melamine resin, with the help of high pressure. These sheets are bonded on substrates such as particle board or medium density fiberboard. The most common pressure range used for manufacturing (HPL) is between 1,200 to 2,000 lbs per square inch. The resulting laminate is later covered with a layer of decorative paper. High pressure laminates can be employed in both horizontal as well as vertical applications.
High pressure laminates have various benefits such as durability, versatility, scratch resistant, and easy to maintain. Due to the durability and supreme qualities possessed by high pressure laminates, high pressure laminates are utilized in a wide range of applications such as residential, commercial, and industrial due to their superior qualities and durability.
High Pressure Laminate (HPL) Market: Trends
Demand for high pressure laminates is expected to rise at a steady pace during the forecast period. Demand is estimated to increase primarily due to rise in the utilization of cabinets and ready-to-assemble furniture and floorings.
In the interior design industry, HPL is highly preferred due to its pattern, color, finish, and texture. The designer can optimize high pressure laminates as per the requirement, which helps to add aesthetic sense to the interiors. Upcoming social, economic and design trends across the globe are major factors that are driving the demand for HPL in the last few years.
Manufacturers of high pressure laminates can develop new products by innovation or by carrying required research and development activities. Manufacturing eco-friendly products is anticipated to present opportunities for manufacturers, which in turn is likely to provide growth opportunities for manufacturers to increase their consumer base in the market.
High Pressure Laminate (HPL) Market: Region-wise Outlook
Asia Pacific was a prominent market for high pressure laminates in 2016. Among the countries in Asia Pacific, the demand was substantially high in developing countries such as China and India. These countries have been witnessing rapid increase in its population along with expansion of their overall economies, which has led to increase in disposable income. Increased spending on home interiors is fuelling the high pressure laminate market in Asia Pacific.
There are several manufacturers of high pressure laminates in Europe and North America. In North America, the demand for high pressure laminates is primarily driven by the residential sector. Improved standards of living and rising usage of high pressure laminates for flooring purpose are anticipated to drive the market in North America.
In Europe, the demand for high pressure laminate is anticipated to be primarily from the commercial sector. High pressure laminates are being employed widely for flooring in commercial complexes, which is estimated be a major factor that is likely to propelling the consistent expansion of the high pressure laminate market in the region.
Demand for high pressure laminates in Middle East & Africa is projected be primarily due to the utilization of high pressure laminates in the construction industry. In recent years, there has been exceptional growth in the construction industry of UAE and Egypt which has driven the market of high pressure laminates in the region of Middle East & Africa.
High Pressure Laminate (HPL) Market: Key Players
Key players operating in the high pressure laminate market include Formica Group, Wilsonart Engineered Surfaces, Sonae Indústria, Polyrey, and Panel Processing.
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
- Insights and Tools based on data-driven research
- 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
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
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.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
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?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.