US Decorative Laminates Market to grow by USD 2.97 billion (2024-2028) driven by product innovations and AI-powered market evolution

NEW YORK, Oct. 1, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global decorative laminates market in US  size is estimated to grow by USD 2.97 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  7.39%  during the forecast period.  Product innovations and new designs is driving market growth, with a trend towards growing adoption of rta floorings and furniture and cabinets. However, high competition from unorganized players  poses a challenge. Key market players include Arclin Inc., ATI Decorative Laminates, BMK GmbH, Formica Corp., Funder America Inc., Laminati, LX Hausys Ltd, Merino Laminates Ltd., Olon Industries Inc., Panolam Industries International Inc., Patrick Industries Inc., RENOLIT SE, Roseburg Forest Products Co., Rugby Acquisition LLC, Schattdecor AG, Synthomer Plc, Uniboard Canada Inc., and Wilsonart LLC.

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Key Market Trends Fueling Growth

The Decorative Laminates Market in the US is experiencing steady growth. Companies are producing a wide range of decorative laminates to cater to various industries such as construction, furniture, and transportation. These laminates offer benefits like durability, easy maintenance, and cost-effectiveness. Key players in the market include Formica Group, Wilsonart, and Nevamar. They invest in research and development to introduce innovative products and expand their customer base. The market is expected to continue growing due to increasing demand for aesthetically pleasing and functional materials. 

The Decorative Laminates market in the US is thriving, driven by trends such as durability, microbe resistance, and ease of maintenance. The Backer segment is a significant contributor, with non-residential sectors and the transportation sector showing strong growth. Urbanization is fueling demand for Acrylic Divider Panels and Deco Defender products, which offer antibacterial properties. E-commerce and social media platforms are transforming sales, with veneer, aesthetics, textured finishes, and high gloss finishes popular choices. Scratch-resistant and waterproof laminates, along with zero finish laminates, are in high demand. Stone texture countertops, PVC laminates, synchronized laminates, and high and low pressure laminates, such as Sunmica, are preferred for their versatility. Raw materials include wood, vinyl, plastic resin, paper, melamine, phenolic resins, methanol, formaldehyde, and various chemicals. Wood logs and tissue paper are used for specific applications. The market is diverse, catering to plastic products and various sectors, including the transportation and construction industries. 

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Market Challenges

• The Decorative Laminates market in the US is thriving, with continuous demand from various industries such as construction, furniture, and transportation. Manufacturers are focusing on innovation, offering diverse designs, textures, and colors to cater to evolving consumer preferences. Key players include Formica, Wilsonart, and PPG Industries, who invest in research and development to stay competitive. The market is expected to grow steadily due to increasing infrastructure development and renovation projects.
• The Decorative Laminates market in the US is experiencing significant growth due to the increasing demand for affordable and durable alternatives to solid surfaces. High gloss, soft, and matte finishes are popular choices for various applications, including cabinets, furniture, and tabletop/countertops. Scratch-resistant and waterproof laminates are also gaining popularity, especially in high-traffic areas. Manufacturers face challenges in producing laminates with zero finish or stone texture, requiring advanced technology and raw materials like PVC, melamine, phenolic resins, and methanol. Synchronized laminates, high and low pressure laminates, Sunmica laminates, and various types of plastic resins and adhesives are essential components. Raw materials like wood, vinyl, plastic products, and tissue paper/kraft paper are used, while wood logs and chemicals are crucial for producing wood substrates. Market segments include general purpose, post-forming, and special products for various applications such as transportation, flooring, wall panels, and tabletop/countertops. Ensuring safety and sustainability in the production process is crucial, as formaldehyde and other chemicals are used. Overall, the Decorative Laminates market continues to evolve, driven by consumer preferences and technological advancements.

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Segment Overview 

This decorative laminates market in US report extensively covers market segmentation by

1. Application 
• 1.1 Furniture and cabinets
• 1.2 Flooring
• 1.3 Wall panels
• 1.4 Others
2. Product 
• 2.1 LPL
• 2.2 HPL
• 2.3 Edgebranding
3. Geography 
• 3.1 North America

1.1 Furniture and cabinets-  The Decorative Laminates Market in the US is experiencing steady growth due to increasing demand for cost-effective and durable interior design solutions. Key players in this market include Formica Group, Wilsonart, and Nevamar. These companies offer a wide range of decorative laminates for various applications, such as kitchen countertops, bathroom vanities, and furniture. Consumers value the easy maintenance and design flexibility of decorative laminates, making them a popular choice for both residential and commercial projects. Additionally, advancements in technology have led to the production of more realistic textures and patterns, further enhancing the market's appeal.

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Research Analysis

Decorative laminates are a popular choice for various applications due to their affordability, durability, and versatility. These laminates are made from a combination of plastic resins, adhesives, and wood substrates. They come in different categories such as general purpose, post forming, and special products. Decorative laminates find extensive use in cabinets, furniture, flooring, tabletop, countertop, wall panels, transportation, and more. Decorative laminates offer several advantages, including water resistance, durability, and microbe resistance. They are also easy to maintain and come in various finishes like textured, high gloss, soft, and matte. The backer segment of decorative laminates, such as Deco Defender products, adds an extra layer of protection against moisture and impact. Antibacterial laminates are a new trend in the decorative laminates market, offering additional health benefits. The market for decorative laminates in the US is growing, with eCommerce and social media platforms driving sales. Veneer is another material used in decorative laminates, adding to their aesthetic appeal. Overall, decorative laminates offer a cost-effective and functional solution for various applications while maintaining a high level of aesthetics.

Market Research Overview

Decorative laminates are a popular choice for various applications due to their affordability, durability, and aesthetic appeal. These thin sheets are made from plastic resins, adhesives, and wood substrates, available in different types such as general purpose, post forming, and special products. They find extensive use in cabinets, furniture, flooring, tabletop, countertop, wall panels, transportation, and more. Decorative laminates offer several advantages including water resistance, durability, and microbe resistance, making them ideal for both residential and non-residential sectors. The transportation sector benefits from their ease of maintenance and lightweight properties. Urbanization and the need for affordable and long-lasting solutions have led to an increase in demand for decorative laminates. Acrylic divider panels and Deco Defender products are gaining popularity due to their antibacterial properties. E-commerce and social media platforms have made it easier for consumers to explore various finishes like veneer, textured finishes, high gloss finishes, soft finishes, matte finishes, scratch-resistant laminates, waterproof laminates, zero finish laminates, stone texture countertops, PVC laminates, synchronized laminates, high pressure laminates, and low pressure laminates. Raw materials used in the production of decorative laminates include wood, vinyl, plastic resin, paper, melamine, phenolic resins, methanol, formaldehyde, and various chemicals. Wood logs and tissue paper are used for the production of wood substrates.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Furniture And Cabinets
• Flooring
• Wall Panels
• Others
• Product
• LPL
• HPL
• Edgebranding
• Geography
• North America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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