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Growing popularity of decorative laminates in marine applications to build decks, rooftops and doors are
anticipated to boost market growth. Increasing adoption of decorative laminates in manufacturing of structural
panels is likely to drive market expansion. Increasing infrastructural activities in developing economies across
the globe are major drivers for sustained growth of the market, in the last few years. Furthermore, rise in the
per capita income and surging economic condition in BRICS economies such as India, Brazil and China are
predicted to fuel market growth in near future.
Easy availability of raw materials required to manufacture decorative laminates, particularly in regions where
forest resources and wood plantations are in abundant amount, are offering lucrative growth opportunities for
market players in the decorative laminates industry. Moreover, substantial investment by market players in
development of innovative products to gain a competitive edge coupled with mergers, acquisitions and
partnerships for vertical integration are driving growth of the market, in the recent years.
The market is broadly categorized into two major segments based on the application type such as residential
sector and non-residential sector. The non-residential sector is considered as one of the fastest growing
segment in the market with substantial revenue generation in the last few years. Growing popularity of
decorative laminates in the non-residential segment is attributed to the increasing demand from restaurants,
laboratories, educational institutes, office furniture, hospital, hotels, and retail shops. The residential segment
has also witnessed substantial growth owing to the improved living standards and rising per capita income.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in the implementation of latest technologies home
décor industry, increase in the number of research & development activities in the region and existence of well-
established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the decorative laminates market with massive
growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with
robust growth home décor industry, increasing building & construction activities, rising per capita income,
improved living standards, and significant investment by leading industry players considering potential growth
opportunities in the region.
The key players in the decorative laminates market are Fletcher Building Ltd., Omnova Solutions Inc., Greenlam
Industries Ltd., Merino Group (India), Wilsonart International Inc., Abet Laminati S.p.A., Archidply Industries
Ltd., FunderMax GmbH, Panolam Industries International, Inc., and Stylam Industries Ltd.
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