KennethResearch published a report titled “DecorativeHigh Pressure Laminates (HPL) Market: Global Demand Analysis &Opportunity Outlook 2031” whichdelivers detailed overview of the global decorative high pressurelaminates (HPL) market in terms of market segmentation by application,end-users, and by region.
Further,for the in-depth analysis, the report encompasses the industry growthindicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global decorative high pressure laminates (HPL) market is estimatedto grow at a CAGR of ~5 % overthe forecast period, i.e., 2022-2031. The market is segmented byapplication into flooring, furniture,cabinets, and others, out of which, furniture segment is anticipated to holdthe largest share over the forecast period in the global decorativehigh pressure laminates (HPL) market. This can be attributed to the increase in commercial and residential projects that require fancy furniture and an increase in the demand of lamination from the furniture manufacturers for the furniture.
Expansion in commercial and residentialspaces across the globe is anticipated to increase the growth of the globaldecorative high pressure laminates (HPL) market. Moreover, the use of decorative high pressure laminates will rise the value of the residential and commercial property.
Geographically,the global decorativehigh pressure laminates (HPL) market is segmented into five major regions including NorthAmerica, Europe, Asia Pacific, Latin America and Middle East & Africaregion. Out of them, the market in the Asia Pacific region is estimated to witness modest growth by the endof the 2031 owing to the increase in the urbanization and population in the region that will lead to the rise in the residential and commercial projects.
Theresearch is global in nature and covers detailed analysis on the market inNorth America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasein the Population and Urbanization to Drive the Growth of the Market
Accordingto the World Bank, the percentageof people living in cities across the globe has climbed from 47 percent ofthe total population in 2000 to 56 percent of the total population in 2020.
Backed by the increase in population andurbanization, more commercial and residential projects requiring decorativehigh pressurelaminates are being undertaken. Moreover, it comes in different color and size that can be customized according to the needs of customers. Hence, it is anticipated to drive the growth of the global decorative high pressurelaminates (HPL) market.
However, requirement of huge capital for newmarket entrants and high cost for the decorative high pressure laminates areexpected to operate as key restraint to the growth of global decorative high pressure laminates (HPL) market overthe forecast period.
This report also provides the existingcompetitive scenario of some of the key players of the global decorative high pressure laminates (HPL) market which includes company profiling of WilsonartLLC., Panolam Industries International, Inc., Formica Group, Gentas, Abet,Inc., FunderMax, Stylam Industries Limited, OMNOVA Solutions Inc., Merino Laminates Ltd., Kronospan Limited , and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the globaldecorative high pressure laminates (HPL) market that will help industry consultants, equipment manufacturers,existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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