The Latest Decorative Laminates Industry Statistics Explained
The global decorative laminates market size was valued at USD 6.31 billion in 2019.
The statistic indicates that the global decorative laminates market had a total worth of USD 6.31 billion in the year 2019. Decorative laminates are thin layers of material bonded to a substrate, typically used in furniture, flooring, and wall panels to enhance aesthetics and provide durability. This market size value reflects the total revenue generated by companies involved in the production, distribution, and sale of decorative laminates worldwide in 2019. The figure serves as a key metric for assessing the economic importance and growth potential of the decorative laminates industry.
The global decorative laminates market is expected to grow at a Compound Annual Growth Rate (CAGR) of about 3% during the period 2021-2026.
The statistic highlights the projected growth rate of the global decorative laminates market over a five-year period from 2021 to 2026. The Compound Annual Growth Rate (CAGR) of approximately 3% indicates that on average, the market is anticipated to expand by 3% each year during this period. This growth could be attributed to various factors such as increasing demand for aesthetically appealing and customizable surface materials in both residential and commercial construction projects, rising disposable incomes driving consumer spending on home decor, and advancements in manufacturing technologies making decorative laminates more versatile and durable. Companies operating in the decorative laminates industry may benefit from this steady growth trend by strategic planning and capitalizing on emerging opportunities within the market.
Low pressure laminates accounted for over 65% market share in terms of volume in 2019.
This statistic indicates that low pressure laminates were predominant in the market in 2019, comprising more than two-thirds of the total volume of laminates sold. Low pressure laminates are likely popular due to their cost-effectiveness, versatility, and ease of installation compared to high-pressure laminates and other alternatives. This high market share signifies a strong preference for low pressure laminates among consumers, potentially driven by factors such as affordability, availability of various designs and patterns, and suitability for a wide range of applications in residential and commercial settings. The dominance of low pressure laminates in terms of volume suggests that they are a key player in the laminate industry and are likely to continue to be in high demand in the market.
Asia Pacific region dominated the market share for decorative laminates and accounted for over 45% of the total demand in 2019.
The statistic indicates that the Asia Pacific region held the largest market share for decorative laminates and represented more than 45% of the total demand in 2019. This suggests that the Asia Pacific region was the primary consumer of decorative laminates during that year, surpassing other regions in terms of demand. The dominance of the Asia Pacific market highlights the strong preference for decorative laminates in this region, possibly driven by factors such as rapid urbanization, increasing disposable income, and a growing construction and interior design industry. This data underscores the importance of the Asia Pacific market for manufacturers and suppliers of decorative laminates, emphasizing the need to cater to the specific preferences and trends in this region to capitalize on its market potential.
North America decorative laminates market size is projected to exceed $7 billion by 2026.
The statistic indicates that the market size for decorative laminates in North America is expected to increase and surpass $7 billion by the year 2026. This projection suggests significant growth in the demand for decorative laminates within the region over the next few years. Factors such as increasing residential and commercial construction, renovation activities, and interior design preferences are likely contributing to this anticipated expansion in the market size. The forecasted value of over $7 billion highlights the potential opportunities for businesses operating in the decorative laminates industry in North America to capitalize on this growing market.
Indian decorative laminates market was worth INR 189.6 Billion in 2019.
The statistic ‘Indian decorative laminates market was worth INR 189.6 Billion in 2019’ signifies the total value of decorative laminates traded in the Indian market during the year 2019. This metric represents the financial magnitude of the market, indicating the overall size and significant economic activity within the sector. It provides crucial insight into the demand for decorative laminates in India and hints at the level of consumer interest and investment in this industry. Such data is essential for stakeholders, policymakers, investors, and businesses to understand the market dynamics, make informed decisions, and track trends over time for strategic planning and forecasting purposes.
Digital printing type of decorative laminates is expected to grow at the fastest CAGR of 4.6% during the projected period
This statistic indicates that the digital printing type of decorative laminates is forecasted to experience the highest Compound Annual Growth Rate (CAGR) of 4.6% over the projected period. This means that the demand for digitally printed decorative laminates is expected to increase rapidly compared to other types of laminates. The growth in this sector may be driven by factors such as advancements in digital printing technology, increasing customization options, and changing consumer preferences towards more personalized and aesthetically appealing laminate designs. This trend suggests that businesses operating in the digital printing segment of decorative laminates may have favorable opportunities for growth and market expansion in the coming years.
In terms of product, general purpose laminates led the market in 2018 with a share of over 30.0%
The statistic “In terms of product, general purpose laminates led the market in 2018 with a share of over 30.0%” indicates that general purpose laminates were the most popular type of product within the market in 2018, capturing more than 30% of the total market share. This suggests that customers preferred general purpose laminates over other types of products in the same category during that time period. The high market share of general purpose laminates indicates their widespread use and acceptance among consumers, highlighting their importance and dominance within the market compared to other products.
The largest end use of decorative laminates is in the cabinets segment, with around 28% market share
The statistic indicates that the segment consuming the most decorative laminates is cabinets, accounting for approximately 28% of the overall market share. This means that nearly one-third of all decorative laminates produced are used in the production of cabinets. This high market share suggests that cabinets are a popular application for decorative laminates, likely due to their aesthetic appeal, durability, and versatility. Understanding this statistic can provide valuable insights for manufacturers, retailers, and designers in the decorative laminates industry, helping them tailor their products and marketing strategies to cater to the demands of the cabinets segment.
The plastic decorative laminates segment is estimated to register the highest CAGR of 5.7% during 2021-2026
This statistic suggests that the plastic decorative laminates industry is expected to experience a significant Compound Annual Growth Rate (CAGR) of 5.7% from 2021 to 2026. This indicates a robust growth trend for the plastic decorative laminates segment compared to other segments within the same industry during the specified time period. The high CAGR implies that the demand for plastic decorative laminates is projected to increase steadily over the next few years, likely driven by factors such as rising consumer preferences for durable and aesthetically pleasing interior décor solutions. Companies operating within this segment may have opportunities to capitalize on this growth potential by expanding their market presence, developing innovative products, and exploring new business opportunities to maximize profitability in the coming years.
China accounted for over 35% of the Asia Pacific decorative laminates revenue in 2019
The statistic ‘China accounted for over 35% of the Asia Pacific decorative laminates revenue in 2019’ indicates that China contributed significantly to the total revenue generated from decorative laminates in the Asia Pacific region during the specified year. This suggests that China holds a substantial market share in the decorative laminates industry within the Asia Pacific region, showcasing the country’s strong presence and influence in this particular sector. The statistic highlights the importance of China as a key player in the decorative laminates market, both in terms of production and consumption, and underscores its impact on the overall industry landscape in the region.
The Middle Eastern and African decorative laminates market is projected to witness substantial growth in the coming years.
The statistic suggests that the Middle Eastern and African decorative laminates market is expected to experience significant expansion in the near future. This growth may be driven by factors such as increasing urbanization, rising disposable incomes, and a growing focus on interior design and aesthetics in the region. The projection implies that there is a favorable market environment for decorative laminates in this region, with opportunities for manufacturers, suppliers, and other stakeholders to capitalize on the growing demand for these products. This anticipated growth may lead to increased competition within the market, as well as potential investments and developments in the industry to meet the rising consumer demands for decorative laminates.
The demand for fire-retardant laminates is expected to exhibit a CAGR of 4.2% from 2021 to 2026
The statistic indicating a Compound Annual Growth Rate (CAGR) of 4.2% for the demand of fire-retardant laminates from 2021 to 2026 suggests that there is projected growth in the market for these products over the specified time period. CAGR is a measure used to understand the average annual growth rate of an investment or market. In this case, the expected CAGR of 4.2% indicates a steady increase in demand for fire-retardant laminates, showcasing potential opportunities for manufacturers and suppliers in this industry. This information can be utilized by businesses to make informed decisions regarding production levels, pricing strategies, and market positioning to capitalize on the anticipated growth trend in the fire-retardant laminate market.
The furniture & cabinets application lead the decorative laminates market in 2019.
This statistic indicates that in 2019, the furniture & cabinets application segment held the largest market share within the decorative laminates industry. This suggests that a significant portion of decorative laminates produced and sold during that year were used for furniture and cabinet applications specifically. This could be due to factors such as the growing demand for decorative laminates in the furniture industry, or the versatility and durability of laminates for cabinet surfaces. Overall, this statistic highlights the importance and dominance of the furniture & cabinets application within the decorative laminates market in 2019.
Laminate countertops segment will grow by over 5.8% annually from 2021 to 2026.
The statistic that the laminate countertops segment will grow by over 5.8% annually from 2021 to 2026 indicates the projected rate of expansion for this specific market. This growth rate suggests a steady and positive trend in consumer demand, industry innovation, and overall market performance within the laminate countertop industry over the specified time period. The statistic implies that businesses operating in this segment can expect sustained growth opportunities, increased market share, and improved financial performance. Factors contributing to this growth may include changing consumer preferences, advancements in technology and design, as well as economic conditions favoring the construction and home improvement sectors. Overall, this statistic provides valuable insight for industry stakeholders, investors, and policymakers to make informed decisions and strategic planning for the future.
The flooring application segment is projected to exhibit a CAGR of 3.9% in the forecast period.
The statement indicates that the flooring application segment is expected to experience a Compound Annual Growth Rate (CAGR) of 3.9% over a specified forecast period. This suggests that the market for flooring applications is projected to grow steadily at a rate of 3.9% annually during the given timeframe. A higher CAGR indicates a faster growth rate, so a CAGR of 3.9% implies a moderate growth trend in the flooring application segment. This information can be valuable for businesses and investors looking to assess the potential opportunities and risks in the flooring industry over the forecast period.
In 2019, laminates based on particleboards accounted for a market share of over 50%.
The statistic indicates that in 2019, laminates manufactured using particleboards comprised more than half of the total market share within the laminate industry. This suggests that particleboard-based laminates were the predominant choice among consumers and industry players during that year. The high market share signifies the popularity and the widespread usage of laminates made from particleboards, likely due to their cost-effectiveness, durability, and aesthetic appeal. This statistic highlights the significant impact that particleboard-based laminates had on the market in 2019, indicating its dominance and influence within the industry.
By 2024, Asia-Pacific decorative laminates market size will surpass USD 10.5 Billion revenue.
The statistic suggests that by the year 2024, the decorative laminates market in the Asia-Pacific region is projected to amass a total revenue exceeding USD 10.5 billion. This indicates a significant growth opportunity within the market, likely driven by factors such as expanding construction and renovation activities, increasing disposable income, and a rising focus on aesthetic appeal in both residential and commercial spaces. The anticipated growth in revenue signals a thriving market for decorative laminates, implying a strong demand for these products and highlighting the region’s potential for sustained economic development and market expansion in the years to come.
The compact laminate segment is estimated to witness a growth rate of around 3.5% from 2021 to 2026.
The statistic ‘The compact laminate segment is estimated to witness a growth rate of around 3.5% from 2021 to 2026’ indicates that the market for compact laminates is projected to experience a steady increase over the specified period. This growth rate suggests that the demand for compact laminates, which are durable and versatile materials commonly used in various applications such as furniture, countertops, and wall panels, is expected to rise at an average annual rate of 3.5%. This information is crucial for businesses operating in the compact laminate industry, as it provides insight into the anticipated market trend and potential opportunities for expansion and strategic planning in the coming years.
References
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5. – https://www.theenterpriseworld.com
