An Incisive, In-depth Analysis on the Decorative Plastic Paper Laminates Market
This study offers a comprehensive, 360 degree analysis on the Decorative Plastic Paper Laminates market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Decorative Plastic Paper Laminates market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Decorative Plastic and Paper Laminates Market: Introduction
Decorative laminates are laminated sheets made of kraft papers and decorative printed papers, which are fused together with the help of pressure and heat. They are the surface materials used to protect and improve the aesthetics of engineered wood. Generally, decorative plastic and paper laminates are used in the construction of cabinets, countertops, flooring and furniture, among other products. On the basis of type, decorative plastic and paper laminates can be categorized into low pressure laminates, high pressure laminates and edge banding. Moreover, decorative plastic and paper laminates are used in several applications such as furniture & cabinets, floorings, wall paneling, doors and column cladding, among others.
The global Decorative Plastic and Paper Laminates market is projected to reach a value of US$ 66 Bn by 2018 end and is projected to reach US$ 113 Bn by the end of 2028. The Decorative Plastic and Paper Laminates market is estimated to expand at a CAGR of 5.5% during the forecast period. The global Decorative Plastic and Paper Laminates market is projected to create an incremental opportunity worth US$ 46 Bn between 2018 and 2028.
Growing Ready-to-assemble Furniture Market to Drive the Decorative Plastic and Paper Laminates Market over the Forecast Period
Ready-to-assemble furniture (RTA) mainly comprises unfinished or semi-finished furniture that is sold in component parts and assembled by consumers. Also, RTA furniture is easy to assemble, less prone to shipping damage and easy to transport and requires low maintenance. Attributing to these advantages, the purchase and maintenance cost of such furniture is also relatively low. The low cost of RTA furniture as compared to traditional furniture and its aesthetic appearance have led to the higher consumer preference for this furniture type in developed as well as developing countries. This significant rise in the demand for RTA furniture will subsequently lead to a rise in the demand for decorative plastic and paper laminates.
Rising disposable income and urbanization as well as spending on infrastructure development, mainly in residential and commercial sectors, are the major driving factors for the growth of RTA furniture in the U.S. and Europe, which in turn provides impetus for the growth of the Decorative Plastic and Paper Laminates market. According to FMI analysis, the ready-to-assemble furniture market in the U.S. and Europe is expected to grow at 5.1% and 4.8% CAGRs, respectively, over the forecast period. This significant growth in the ready to assemble furniture market in the U.S. and Europe is expected to boost the demand for decorative plastic and paper laminates during the forecast period.
Moreover, the changing consumer preference towards laminate flooring and rising construction spending in the U.S. and Europe is a major factor driving the growth of the decorative plastic and paper laminates market over the forecast period. Along with this, growing construction activities in developing regions, such as Asia-Pacific, are expected to fuel the growth of the decorative plastic and paper laminates market. Countries in Asia Pacific such as China and India, among others are expected to focus on increasing their infrastructure and construction spending during the forecast period.
China and India Tipped to be Healthy Growth and High Potential Markets during the Forecast Period
APAC is one of the fastest growing markets for several industries due to the presence of countries, such as India, China, Indonesia, Philippines, and Vietnam, which are witnessing infrastructural transformation. China, the largest market for decorative plastic and paper laminates, accounts for nearly 70% of the decorative plastic and paper laminates consumption in APAC, owing to the significant construction related activities and associated spending in the country. China is expected to maintain its dominance in the global as well as regional decorative plastic and paper laminates market over the forecast period. Moreover, China and India have witnessed a significant surge in the construction of residential and commercial spaces over the recent past. This is anticipated to create major opportunities for participants in the decorative plastic and paper laminates market.
The increasing per capita expenditure in the countries of Asia Pacific, such as China and India, is expected to boost the demand for decorative plastic and paper laminates in the near future. India is estimated to witness a healthy growth rate over the forecast period. The India Decorative Plastic and Paper Laminates market is expected to witness significant growth due to the strong construction industry in the country. As per the reports of WTTC, the construction sector contributed about 13% to the Indian economy in 2016 and is expected to grow at a decent pace in the coming years. The country is reported to have built around 7 Million houses since 2015, out of which 24% of the houses were built under government initiatives and schemes. Moreover, the growth of the construction industry is expected to provide lucrative opportunities for the growth of the decorative plastic and paper laminates market in India.
Decorative Plastic and Paper Laminates Market: Key Trends
Over the recent past, major key manufacturers of decorative plastic and paper laminates have been focusing on enhancing their products offerings with an aim to capture a wider customer base in developed countries such as the U.S., Germany, the U.K., France and Italy, among others. For the same, companies are establishing new printing techniques and innovating new textures. This increase in product portfolio is expected to create opportunities for the growth of the decorative plastic and paper laminates market during the forecast period
Decorative Plastic and Paper Laminates Market: Key Players
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., OMNOVA Solutions Inc., Illinois Tool Works, Inc. and Century Plyboards (India) Limited, among others. Moreover, manufacturers of Decorative Plastic and Paper Laminates are channelizing efforts towards the expansion of their production capacities and strengthening their retailer and distributor network. This is expected to certainly impact the Decorative Plastic and Paper Laminates market in the near future.
FMI analyzes the global decorative plastic and paper laminates market in its new publication titled ‘Decorative Plastic and Paper Laminates Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028’. This study provides a thorough analysis and key insights on the target market on the basis of type, application, end use and region for the historical period 2013–2017 and forecast period 2018–2028. The objective of the report is to assess the dynamics in the decorative plastic and paper laminates market and provide key information pertaining to the several segments of the global decorative plastic and paper laminates market. To provide a better understanding and support stakeholders for decision making and market analysis, the report is incorporated with the analysis of drivers, restraints and trends that influence the current market scenario and are expected to impact the global decorative plastic and paper laminates market over the forecast period. The study provides data for 2017 along with an inclusive market forecast for the period 2018–2028.
Decorative Plastic and Paper Laminates Market: Segmentation
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Decorative Plastic and Paper Laminates Market: Report Description
To understand and determine market opportunities and trends, the global decorative plastic and paper laminates market report has been categorically split into different sections on the basis of type, application, end use and region. The report begins with a market overview and provides market definition and taxonomy along with value chain, drivers, & pricing analysis pertaining to the decorative plastic and paper laminates market. After this, the decorative plastic and paper laminates market background has been covered, which includes the factors affecting the decorative plastic and paper laminates market such as macro-economic factors, which include region-wise sales and outlook for various industries. Macro-economic factors include the global statistics of the specialty decorative plastic and paper laminates market, the coatings industry and the chemical industry. The market background also covers the market dynamics that affect the decorative plastic and paper laminates market. The dynamics covered in the decorative plastic and paper laminates market report include drivers, restraints and trends. The market background also includes value chain analysis wherein the flow of decorative plastic and paper laminates from raw material manufacturers, decorative plastic and paper laminate manufacturers to end users through various distributors and retailers involved are listed. The final part in the market background is the forecast factors, which include the factors expected to have an impact on the global decorative plastic and paper laminates market, which is covered by manufacturing process overview and patents of decorative plastic and paper laminates.
The sections that follow include an analysis of the global decorative plastic and paper laminates market on the basis of type, application, end use and region/country. All the above sections evaluate the decorative plastic and paper laminates market on the basis of various factors affecting the market. Each section discusses the qualitative and quantitative aspects of the global decorative plastic and paper laminates market. To give a brief idea about revenue opportunities from the application, type, end use and region/country-wise segments, the report also provides market value (US$ Mn) data, growth rates, market shares and total incremental $ opportunity indices for each segment over the forecast period (2018–2028).
In the final section of the report, we have provided a detailed competition landscape with company market share and performance in order to provide report audiences with a dashboard view of key players operating in the global decorative plastic and paper laminates market along with their business strategies. This would enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly.
Decorative Plastic and Paper Laminates Market: Research Methodology
For market data analysis, we have considered 2017 as the base year with market numbers estimated for 2018 and a forecast made for 2018–2028. To determine the decorative plastic and paper laminates market, we have tracked down the production of key players such Archidply Industries Ltd, OMNOVA Solutions Inc., Illinois Tool Works, Inc., Fletcher Building Limited, Greenlam Industries Ltd. and Stylam Industries Ltd and quantified their sales to counter validate the market size. The FMI assessment is based on a multipronged approach that comprises secondary and primary research and triangulation of data obtained therefrom. During the initial phase of research work, product mapping was done, in which the types of products offered by major players with respect to application area were identified. Further, in secondary research, data available in the public domain such as industry association, company annual reports, white papers, publications, journals and government sites, among other sources was collected and accordingly, a set of data points were built. For the same, a top-down approach has been used to assess market numbers for each type and a bottom-up approach has been used to counter validate the market estimation. For forecast assessment, forecast growth for end-use industries such as residential, commercial, institutional and other factors affecting the consumption of decorative plastic and paper laminates have been considered. The forecast presented in the report evaluates the actual market size (US$ Mn) in 2017 with regard to decorative plastic and paper laminates and the expected market value in the global decorative plastic and paper laminates market over the forecast period.
We have also analyzed the different segments of the global decorative plastic and paper laminates market in terms of basis point share (BPS) to understand each individual segments’ relative contribution to the market growth. This detailed level of information is important for identifying various key trends governing the global decorative plastic and paper laminates market. The report also analyses the global decorative plastic and paper laminates market on the basis of the incremental $ opportunity and global absolute $ opportunity. This is usually overlooked while estimating the decorative plastic and paper laminates market forecast; however, from a business development perspective, it is essential to identify the market attractiveness in terms of three indices, viz. market share index, CAGR index and incremental $ opportunity index, to identify the high potential resources in the decorative plastic and paper laminates market. Moreover, the market attractiveness index is important to understand the key segments in terms of their performance and growth in the global decorative plastic and paper laminates market. This market attractiveness index would help clients identify real market opportunities in the global decorative plastic and paper laminates market.
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