Global Demand for Paper-Based Laminates to Reach 7.3 Billion Square Meters in 2024

News provided by

Aug 12, 2021, 13:12 ET

CLEVELAND, Aug. 12, 2021 /PRNewswire/ -- According to the new Freedonia Group study, Global Low-Pressure Decorative Laminates, papers, including saturated papers and low-basis weight papers, are the leading types of low-pressure laminates, accounting for a combined 80% of total low-pressure laminates demand in 2019.

Global demand for paper-based laminates is expected to increase 2.3% per year through 2024 to 7.3 billion square meters:

Of the two types, saturated paper accounts for the larger share and is projected to post the more rapid gains, primarily due to its use in stock cabinets and flooring. In addition, saturated paper will find some opportunities at the expense of other laminate types.
Low-basis weight papers are expected to post slower gains, primarily due to continued competition from alternative laminates that provide better aesthetics or durability.

Global demand for low-pressure laminates (low-basis weight papers, saturated papers, vinyl films, and decorative foils) is forecast to increase 2.2% per year to 9.1 billion square meters in 2024:

Durable goods producers looking to lower material costs will continue to replace higher cost high-pressure laminates, coatings, or wood veneer with low-pressure laminates, particularly in applications with low durability requirements.
In applications where durability is key or highly pleasing aesthetics is a requirement, low-pressure laminates will continue to face intense competition from alternative surfacing materials, including high-pressure laminates, vinyl sheets, natural stone, engineered stone, cast polymers, and wood. In many instances, alternative surfacing materials are viewed as aesthetically superior to low-pressure laminates.

About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at www.freedoniagroup.com or contact us for custom research: +1 440.842.2400.

Press Contact:
Corinne Gangloff
+1 440.842.2400
[email protected]

SOURCE The Freedonia Group