Decorative Laminates Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa Research
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Decorative Laminates Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa Research
" The Global Decorative Laminates Market size may exceed 12 billion meter squares by 2024, growing at a CAGR above 5.5 % during the forecast period."
The global Decorative Laminates Market size is anticipated to exceed 12 billion square meters by 2024. It can register a CAGR above 5.5 % from 2016 to 2024( forecast period). Decorative laminates not only provide a beautiful finish to surfaces but also enhance their lifespan. Consumers are exposed to a broad range of decorative laminates nowadays. They are available in various designs, textures, and colors. They protect furniture surfaces from wear & tear, fire, and scratches. Melamine, phenol, formaldehyde, methanol, kraft paper, and base paper among others are some of the main raw materials used in the manufacture of these laminates.
Demand is driven by low installation costs and low maintenance costs. Consumers these days show greater preference for decorative laminates over wooden floorings. Also, rising income levels coupled with the trend of home renovations & interior decoration can propel the global Decorative Laminates Market in the forthcoming years. The trend of designer interiors in indoor sports clubs, gyms, and convention centers could create opportunities for further growth. Stiff competition and the availability of affordable substitutes can hamper overall demand for decorative laminates.
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