Decorative Plastic and Paper Laminates Market registered steady growth in the last few years and promises a higher growth during the forecast period. Decorative laminates are a combination of kraft paper sheets and printed decorative papers, which are merged together using a thermosetting process. Decorative laminates are made using resins, which provide it with the highly sought after water-resistant quality. This USP, which it shares with decorative plastic, is mainly responsible for driving demand in the global decorative plastic and paper laminates market.
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Both decorative plastic and paper laminates are finding a range of uses. Decorative laminates, for example, act as surface covers which protect and improve the aesthetics of processed wood. In fact, they are a common sight at posh studio apartments, high-end restaurants and corporate offices. Decorative laminates are also commonly found in home kitchens, where it not only adds to the decorum of the establishment, but also provides resistance to stains, scratches, and heat.
Global Decorative Plastic and Paper Laminates Market: Key Trends
The global decorative plastic and paper laminates market has shown a steady growth in the recent past and is expected to pursue an above average growth trajectory during the forecast period. The decorative plastic and paper laminates is expected to grow hand-in-hand with the increasing demand for RTA (ready-to-assemble) furniture.
RTA furniture has become a necessity in recent times. Increasing competition and hectic lifestyles has driven up the popularity of furniture that can be assembled at a moment’s notice. Additionally, the inclusion of decorative plastic and paper laminates provide wear and tear to aesthetically pleasing furniture, which adds an essential protective value to personal and corporate furniture setups.
Increasingly fast paced urban life is also changing consumption patterns towards laminated flooring in newly constructed buildings. Laminated flooring not only provides a cost-effective alternative in the short run, but can be revamped completely with minimum efforts in order attain a completely new look to offices as well as apartments.
The decorative plastic and paper laminate market is generally categorized into heavy pressure laminate, low pressure laminate and edge banding. Among them, the heavy pressure segment is expected to register stable to robust growth as it provides additional flame, chemical resistance in busy work places like food preparation areas and medical offices. On the other hand, low pressure laminate segment is also expected to register significant growth as the segment includes sturdy working surfaces, which are less expensive and can be applied in a wide variety of situations to suit a budget.
Global Decorative Plastic and Paper Laminates Market: Regional Outlook
The global decorative plastic and paper laminates market is expected to register significant growth due to surging construction activities in several developing countries. Hence, Asia Pacific region could emerge as a frontrunner in the market in the next couple of years. Additionally, the market is expected to be aided by a spur in number of enterprises across the US and Europe, led by youth-oriented startup culture is driving demand for RTA furniture and subsequently, for the global decorative plastic and paper laminates market. Consequently, the furniture segment among the applications is likely to witness major growth during the forecast period.
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Global Decorative Plastic and Paper Laminates Market: Competitive Dynamics
Some of the prominent companies operating in the global decorative plastic and paper laminates market are Archidply Industries Ltd, OMNOVA Solutions Inc., Illinois Tool Works, Inc., Fletcher Building Limited.