Press release
Global Decorative Laminates Market Is Expected to Reach $10.0 Billion by 2031: Says AMR
According to the report published by Allied Market Research, the global decorative laminates market was estimated at $7.0 billion in 2021 and is expected to hit $10.0 billion by 2031, registering a CAGR of 3.4% from 2022 to 2031. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.Increase in the global population and rise in trend of living in nuclear families have significantly heightened the demand for residential infrastructure, which in turn has driven the growth of the global decorative laminates market. At the same time, expansion of the furniture & cabinets industry has supplemented the growth even more. Moreover, several growth prospects in the emerging economies have been beneficial for the market.
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Covid-19 scenario-
Restrictions on manufacturing activities impacted the global decorative laminates market negatively, especially during the initial period.
Also, reduced furnishing and remodeling activities aggravated the market condition even more. However, the market is expected to revive soon.
The global decorative laminates market is analyzed across product type, application, end use, and region. Based on product type, the high pressure laminates segment accounted for more than three-fourths of the total market share in 2021, and is expected to rule the roost by 2031. The low pressure laminates segment, however, would garner the fastest CAGR of 3.7% throughout the forecast period.
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Based on end-use, the residential segment contributed to nearly four-fifths of the total market revenue in 2021, and is projected to lead the trail by 2031. The commercial segment, on the other hand, would exhibit the fastest CAGR of 3.8% during the forecast period.
Based on region, the market across Asia-Pacific held the major share in 2021, garnering more than two-fifths of the global market. The LAMEA region, simultaneously, would manifest the fastest CAGR of 4.2% throughout the forecast period. The report also analyzes other regions including Europe and North America.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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