The decorative laminates market has witnessed significant growth in recent years. Decorative laminates, due to their excellent properties, such as water resistance, huge variety, durability, microbe-resistant, and ease of maintenance are used in a wide range of applications such as cabinets, furniture, counter-tops, and wall panels. These are the main applications that have been considered in this report.
The main types of decorative laminates are general purpose, postforming, backer, and special products. Based on type, the general purpose segment led the decorative laminates market in 2016, due to the use of general purpose decorative laminates in several applications. This segment is estimated to grow at the highest CAGR during the forecast period, due to the increasing adoption of general purpose type of decorative laminates in the residential sector, owing to their excellent properties and distinct varieties. The demand for general purpose decorative laminates is high in all regions due to its easy availability and high disposable income of consumers.
Decorative laminates are used in various end-use sectors such as residential, non-residential, and transportation. Based on end-use sector, the non-residential segment is projected to lead the decorative laminates market during the forecast period. This is mainly due to high volume consumption of decorative laminates in non-residential buildings as compared to residential buildings.
North America, Europe, Asia-Pacific, Middle East & Africa, and South America have been considered as key markets for decorative laminates in the report. Asia-Pacific is estimated to lead the decorative laminates market, owing to the rising demand for decorative laminates from residential and non-residential sectors. North America is the second-largest consumer of decorative laminates globally. In addition, increasing disposable income and rapid urbanization are fueling the demand for decorative laminates in various applications.