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What's driving the Decorative Laminates Market Growth? FunderMax, Formica, Kingboard Holdings, Kronospan Holdings, Ronotex, Armstrong World Industries, Advanced Technology, Roseburg Forest Products

07-03-2019 06:42 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: global market insights

Decorative Laminates Market

Decorative Laminates Market

Asia Pacific decorative laminates market size was the largest, and accounted for over 46% of the global revenue in 2015. China was the major producer of ready to assemble and laminated flooring, with more than 30% of the total demand in the same year. Increase in purchasing power coupled with growth in residential and non residential construction spending in Indonesia and India are likely to boost regional demand.

Europe is expected to witness significant growth owing to large presence of laminate flooring and furniture manufacturers. The UK government is estimated to invest around USD 80 billion for infrastructure development in the near future which is likely to propel regional decorative laminates market size.

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Decorative laminates is an attractive and safe way to keep the interior beautiful and to protect furniture from wear and tear, scratching, and fire risk. These products also help to increase the surfaces’ life span and provide them an eye-catching finish. In order to establish presence in various industries, it comes in wide range of designs, textures, and colors to serve different purposes. Tissue paper, kraft paper, base paper, methanol, melamine, formaldehyde, and phenol are some of the raw materials required to manufacture these products.

Products can be segmented into low-pressure (LPL) and high-pressure laminates (HPL). HPL is considered to be a more durable and tough product as it is derived from phenolic resin and kraft paper. It is preferred on countertops, flooring, and desktop applications owing to fire and chemical resistance properties. Increasing demand for sustainable and long-life flooring in the residential and institutional sector is likely to propel product demand.

Reasons to Buy This Report:

1. Decorative laminates market size & share forecast by product & application 2019-2025
2. Growth drivers, pitfalls & industry challenges
3. Key Decorative laminates market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/decorative-laminates-market

Applications can be bifurcated into cabinets, furniture, flooring, and wall panels. Furniture and cabinets was the largest segment, accounted for more than 65% of the global decorative laminates market share. Expansion in the real estate industry accompanied by increasing trend for ready to assemble furniture in homes and offices are among the key factors to drive decorative laminates demand.

Industries including hotels, hospitals, offices, shopping malls, airports and colleges are likely to fuel demand for flooring and wall panels owing to presence of variety of designs, textures and colors. Flooring and ready to assemble furniture production was dominated by China, due to expansion in manufacturing capacity and raw material availability.

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Decorative laminates market share is fragmented, key players include FunderMax, Formica, Kingboard Holdings, Kronospan Holdings, Ronotex, Armstrong World Industries, Advanced Technology, Roseburg Forest Products, SierraPine, Sekisui Chemical, Tarkett SA, Timber Products, Woodcraft Industries, Wilsonart International, and Omnova Solutions.

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Global Market Insights, Inc.
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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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