Decorative Laminates Market To Reach $10.34 Billion By 2030

Decorative Laminates Market Growth & Trends

The global decorative laminates market is anticipated to reach USD 10.34 billion by 2030 and is projected to grow at a CAGR of 2.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Decorative laminates offer a cost-effective alternative to natural materials such as wood, stone, and metal. This affordability appeals to consumers who want to achieve the look of these materials without the associated high costs. In addition, decorative laminates come in a wide range of designs, colors, and patterns, allowing consumers to customize their spaces according to their preferences and styles. This versatility makes these suitable for various applications, including furniture, countertops, wall panels, and flooring.

Furthermore, decorative laminates are known for their durability and ease of maintenance. They are resistant to scratches, stains, and fading, making them ideal for high-traffic areas in residential and commercial spaces. Their easy-to-clean nature also contributes to their popularity among consumers who seek practical and long-lasting solutions for their interior design needs especially for high-traffic areas in residential, commercial, and institutional buildings. As construction projects aim to create spaces that are both functional and visually appealing, laminates offer a practical solution for surfaces that require resistance to scratches, stains, moisture, and fading.

Growing construction industry drives the demand for decorative laminates by requiring cost-effective, durable, customizable, and sustainable interior finishing materials. As the construction industry grows, there is an increased demand for interior design and finishing materials to complete residential, commercial, and institutional buildings. Decorative laminates are versatile surfacing materials that can be used for various interior applications, including countertops, cabinetry, wall paneling, flooring, and furniture. Their wide range of designs, colors, textures, and finishes allows architects, designers, and builders to achieve specific aesthetic goals and enhance the visual appeal of interior spaces.

With increasing awareness of environmental issues, there is a growing demand for sustainable building materials in the construction industry. Many decorative laminate manufacturers prioritize sustainability by using recycled materials, eco-friendly adhesives, and energy-efficient manufacturing processes. Builders and developers seeking green building certifications such as LEED (Leadership in Energy and Environmental Design) often choose laminates that meet sustainability criteria, further driving demand for environmentally friendly products in the market.

Moreover, advancements in technology have led to improvements in the quality and performance of decorative laminates. Modern laminates feature enhanced designs, textures, and finishes that closely mimic the look and feel of natural materials. These innovations have expanded the market for decorative laminates, attracting a broader range of consumers who value both aesthetics and functionality in their interior spaces.

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Decorative Laminates Market Report Highlights

• Based on products, high pressure laminates dominated the industry in 2023 and accounted for the maximum revenue share of 81.1% of the global revenue. This is on account of its exceptional durability and resilience compared to other decorative surfacing materials. In addition, high-pressure decorative laminates come in a vast array of designs, colors, textures, and finishes, providing architects, designers, and consumers with virtually limitless options for interior decoration

• Based on application, furniture application dominated the industry with the major revenue share of 42.9% in 2023. This is due to cost effectiveness, durability, versatility and ad high performance of the product. Moreover, increasing spending in creating modern and multipurpose furniture in urban areas due to growing trend of remote working is driving industry demand for decorative laminates in developing countries

• Asia Pacific region led the market in 2023 and accounted for the largest revenue share of more than 44.2% of the global revenue. Rapid urbanization and population growth in countries like China, India, and Southeast Asian nations have led to increased demand for cost-effective and modern and light weighted housing and interior designing materials

• Many decorative laminate manufacturers prioritize environmental sustainability in their production processes. They use recycled materials, water-based adhesives, and eco-friendly manufacturing techniques to minimize their environmental impact. As consumers become more environmentally conscious, furniture made with sustainable laminates becomes increasingly desirable, driving demand for these products in the market

Decorative Laminates Market Segmentation

Grand View Research has segmented the decorative laminates market report based on product, application, and region:

Decorative Laminates Product Outlook (Revenue, USD Billion, 2018 - 2030)

• High Pressure Laminates

• Low pressure Laminates

Decorative Laminates Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Walls

• Furniture

• Flooring

• Others

Decorative Laminates Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• Middle East & Africa

  • Saudi Arabia

• Central & South America

  • Brazil

List of Key Players in the Decorative Laminates Market

• Greenlam Industries Limited

• OMNOVA North America Inc

• Abet Laminati SpA

• STYLAM INDUSTRIES LIMITED

• Wilsonart LLC

• Merino Laminates Ltd

• FunderMax

• Airolam decorative laminates

• Archidply

• Bell Laminates

• Broadview Holding (Formica Group)