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Products , applications , and regions are the three main factors based on which the worldwide decorative laminates industry is segmented . On the basis of products , the industry is fragmented into HPL ( high pressure laminates ), LPL ( low pressure laminates ), and edgebanding . Unlike , HPL , LPL have shorter lifespan . This is because high pressure laminates are made of phenolic resin and kraft paper which makes them durable and quite strong . HPL are mainly used for floorings , desktops , and countertops . Since low pressure la minates are quite affordable , they are usually purchased by the lower income groups .
Based on applications , the worldwide Decorative Laminates Market is categorized into flooring , furniture , cabinets , and wall panels . The highest share in the overall industry is held by the furniture & cabinets segment . The popularity of ready-to-fix furniture for residential & commercial applications is expected to drive the market in the years to come . Demand for wall panels & floorings from end users , such as shopping malls , colleges , airports , offices , hotels , and hospitals , is projected to rise substantially .
As per regions , the global decorative laminates market is segmented into Asia Pacific , Europe , North America , and the Middle East & Africa . The overall market was led by Asia Pacific in 2015 . Surging income levels & standards of living in countries , such as China and India are factors that drive this regional market . High expenditure on non residential & residential construction in Indonesia and India may augment the Asia Pacific market in the forecast period .
High concentration of laminate furniture & flooring manufacturers in Europe is a key factor that is expected to fuel the Europe market from 2016 to 2024 . High investments by the U . K . government in infrastruc ture can fuel regional demand . Another noteworthy factor that fuels the North America market is rapid industrialization . The prospering real estate & hotel industries in the UAE and in South Africa may make the MEA a very lucrative market during the forecast period . Companies in the global decorative laminates industry are Wilsonart International , Kronospan Holdings , Kingboard Holdings , Armstrong World Industries , and FunderMax .
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