Global High-Pressure Laminate Market anticipates reaching USD 9.4 BN By 2025
Posted On January 22, 2019
According to Value Market Research, the Global High-Pressure Laminate Market was valued at USD 6.2 BN (by revenue) in 2018 and is anticipated to reach USD 9.4 BN by 2025.The recently updated report identifies a growth CAGR of 6.15% between 2019 and 2025. The market of the high-pressure Laminate is expected to benefit from increase in the production of products such as cabinets, ready-to-assemble (RTA) furniture, and flooring, which are primarily made from laminate engineered wood. The market study also explores that the demand will be driven by the increasing market penetration at the expense of other surfacing materials (wood veneer and paint) owing to cost and performance benefits. Further, the high-pressure laminate will benefit from the consistent improvement in textures and in printing techniques that offer advanced graphics rivaling the aesthetics of alternative products.
High-pressure Laminate (HPL) is a type of decorative laminate which is produced by impregnating kraft paper with the help of technology like melamine resin, under high pressure after which the resulting laminate is covered with a layer of decorative paper. Technically, these sheets are bonded on substrates such as particle board or medium density fiberboard. The most common pressure range used for the creation of (HPL) is between 1,200 to 2,000 lbs per square inch. This high-pressure laminates can be employed for both horizontal as well as vertical applications. The advantage of this laminates includes versatility, durability, scratch resistant, and easy to maintain. Owing to their excellent durability they widely utilized across residential, commercial, and industrial.
The report titled "Global High Pressure Laminate Market Report By Surface (Horizontal Surfaces And Vertical Surfaces), Application (Furniture And Cabinets, Flooring, Wall Panel, And Others), End-User (Residential, Commercial And Industry) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2018-2025” considers important market environmental factors, detailed industry structure along with evaluating leading players market share.
The market segmentation covered by the report is by surface, application, end-user, and region. The surface segment has been bifurcated into horizontal surfaces and vertical surfaces. Out of which, vertical segment is gaining traction in the market since high-pressure laminates are widely used across the vertical surface like walls and doors in residential as well as commercial spaces. Application segment has been split into furniture and cabinets, flooring, wall panel, and others. Furniture segment is leading owing to the refurbishment of the residential and commercial sector across the globe. End-user has been fragmented into residential, commercial, and industry. The residential sector is dominating the segment owing to the rising number of residences along with the rising spending on home interior decoration by people.
Region-wise the market has been studied across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Currently, Asia-Pacific is ruling the global high-pressure Laminate market owing to the ongoing rapid urbanization along with the expanding furniture industry in the region. The region is also likely to benefit from high production of wood especially particleboard and medium density fiberboard (MDF), which are often given a laminate layer at the point of production.
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The Report Segments Global High-Pressure Laminate Market -
- Horizontal Surfaces
- Vertical Surfaces
- Furniture and Cabinets
- Wall Panel
- North America
- Latin America
- Middle East and Africa
Major Players Profiled In The Report:
Abet Laminati, Arpa Industriale, ASD, EGGER, Fletcher Building, Formica Group, Gentas, Kronospan, OMNOVA Solutions, PFLEIDERER, Sonae Indústria, Stylam, SWISS KRONO, Trespa International, and Wilsonart Engineered Surfaces.