Global Decorative Laminates Market to Reach US$ 95 Bn by 2025-end

A new exhaustive study titled “Global Market Study on Decorative Laminates: Impressive Growth to be Witnessed in the Furniture and Cabinets Application Segment During 2017 - 2025” has recently been submitted to the database of Market Research Reports Search Engine (MRRSE). According to the report, the global decorative laminates market is likely to grow at a CAGR of 4.7% through 2025, and reach a valuation of nearly US$ 95 Bn by the end of 2025.

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According to the report, demand for decorative laminates is likely to witness steady growth on account of a range of broader and industry-specific factors. In addition to rising per capita expenditure on home décor, the demand for decorative laminates is also rising on account of growing urbanization and steady recovery of the housing market.

The report segments the global decorative, laminates market into application, type and region. The application segment is further sub-segmented into wall panel, flooring, furniture & cabinets and others. On the basis of type segment, global market is categorized into edge banding, high pressure and low pressure. Geographically, the market is divided into key regions globally which are North America, Latin America, Europe, Asia Pacific and Middle East & Africa.

According to the report, demand for low pressure laminates is expected to be higher than high pressure and edge banding laminates. The report projects the low pressure laminates segment to grow at a CAGR of 4.9% during the assessment period. By application, demand for furniture and cabinets is likely to grow at steady CAGR during the assessment period.

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By region, North America and Asia Pacific are likely to be the key regions in the market. Demand for decorative laminates in North America is likely to remain resurgent in the US, whereas China and India are the key markets in Asia Pacific. Demand for decorative laminates in Japan is also likely to grow at a steady pace during the assessment period. The Asia Pacific decorative laminates market is likely to account for over 50% revenue share of the market.

The report profiles some of the leading players operating in the market. Some of these players are Stylam Industries Ltd., Fundermax GmbH, Panolam Industries International, Inc., Archidply Industries Ltd., Illinois Tool Works, Inc., Abet Laminati S.P.A., Merino Group, Omnova Solution Inc., Greenlam Industries Ltd. and Fletcher Building Limited. These players are focusing on consolidating their position in developing regions to leverage the emerging opportunities.

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This release was published on openPR.