Ohio Ag Connection - Decorative Plastic and Paper Laminates Expecting Growth

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Decorative Plastic and Paper Laminates Expecting Growth
Ohio Ag Connection - 12/13/2018

Future Market Insights' published market report titled "Decorative Plastic and Paper Laminates Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028" examines the Decorative Plastic and Paper Laminates market and provides crucial market insights for the period 2018-2028. According to FMI analysis, the global sales of decorative plastic and paper laminates is estimated to be valued at $ 66,644 billion by the end of 2018 and is expected to register 5.5% CAGR between 2018 and 2028. This report discusses demand for Decorative Plastic and Paper Laminates and segmentation of the market on the basis of different types, applications and regions.

Low pressure Decorative Plastic and Paper Laminates are expected to gain traction over the forecast period owing to rising demand for decorative papers for furniture, cabinets, desks and wall paneling applications in residential as well as commercial buildings. Moreover, increasing commercial spaces in developing regions, such as South East Asia, China and Middle East, among others, have added to the growth of the furniture industry, which is expected to have a direct impact on the Decorative Plastic and Paper Laminates market over the forecast period. Rising disposable income, growing urbanization and increased spending on infrastructure development, mainly in residential and commercial sectors, are the major driving factors for the growth of the ready-to-assemble furniture. This, in turn, is expected to give a push to the growth of the decorative plastics and paper laminates market in the U.S. and Europe.

The growth of furniture industry is likely to create a platform for the sales of Decorative Plastic and Paper Laminates in the coming years. Manufacturers involved in the Decorative Plastic and Paper Laminates market are focused on adopting new manufacturing technologies and providing new and innovative products to strengthen their global footprint. Additionally, growing demand for ready-to-assemble furniture across the globe will give a boost to the demand for Decorative Plastic and Paper Laminates.

The low pressure laminates segment is expected to dominate the global Decorative Plastic and Paper Laminates market over the forecast period. Low cost and ease of use are the main factors owing to which the demand for low pressure laminates is expected to grow significantly over the forecast period. Low pressure laminates find a wide range of applications in furniture, cabinets and flooring applications. The growth of the housing market is, thus, anticipated to create high demand for decorative plastic and paper laminates in the coming years. Additionally, laminates are considered as indispensable parts in evolving markets, such as modular kitchen, flooring and furniture. Growing demand from these markets will create significant growth opportunities for decorative plastic and paper laminates manufacturers. The furniture and cabinets segment, which was reported to be valued at around US$ 37 Bn in 2017, is expected to provide lucrative opportunities for the growth of the Decorative Plastic and Paper Laminates demand over the forecast period.

On the basis of region/country, China is anticipated to dominate the global Decorative Plastic and Paper Laminates market throughout the forecast period. In China, the Decorative Plastic and Paper Laminates market is expected to expand at a CAGR of around 6.6% during the forecast period. Moreover, India is anticipated to register relatively higher CAGR during the forecast period. These two countries, coupled with Latin America, are expected to register attractive growth rates in the global Decorative Plastic and Paper Laminates market during the forecast period. The Western Europe Decorative Plastic and Paper Laminates market has reached a mature stage and is expected to witness slow growth over the forecast period.

Some of the players reported in this study on the global Decorative Plastic and Paper Laminates market include Archidply Industries Ltd, OMNOVA Solutions Inc., Illinois Tool Works, Inc., Fletcher Building Limited, Greenlam Industries Ltd., Stylam Industries Ltd, Merino Group, Panolam Industries International, Inc., Century Plyboards (India) Limited, among others.

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