Compact Laminate Market Forecasts to 2028 – Global Analysis By Laminate Type (Vertical Laminates, Horizontal Laminates), Application (Commercial/Business, Residential, Industrial), and By Geography
According to Stratistics MRC, the Global Compact Laminate Market is accounted for $3,619.18 million in 2020 and is expected to reach $5,725.03 million by 2028 growing at a CAGR of 5.9% during the forecast period. Some of the key factors propelling the market growth include the rise in demand from the rebounding housing markets, growing usage of compact laminate for interior design, and increase in demand from the flooring industry. However, high cost of compact laminates may hamper the market growth.
Compact Laminate is a material which is used for interior design, wall cladding, restroom partitions, and various other applications. It is perfect for virtually unlimited interior uses. It is made up of kraft paper which is impregnated with phenolic resin as well as with decorative surface paper, which is impregnated with melamine resin. It enhances the lifespan of surfaces and give them an attractive finish.
By type, internal wall cladding segment is projected to grow at the lucrative rate during the forecast period, as it helps transform the house or the internal walls of the building and provide an aesthetic look. These laminates are used for shielding the internal walls of a building from diverse kinds of damages such as water, soiling, graffiti, minor burn markets, scratch, impact, and fading along with enhancing the aesthetics of the interior.
On the basis of geography, Asia-Pacific is expected to witness the significant market growth during the forecast period, owing to the increase in disposable income, rise in standard of living, rise in demand for compact laminates from residential and non-residential sectors, economic growth, and growth in residential construction.
Some of the key players in Compact Laminate Market include Greenlam Industries Ltd., Lamitech, Trespa International B.V., Wilsonart LLC, Swiss Krono Group, Kronoplus Limited, AICA Kogyo Co., Ltd., Merino Laminates Ltd., EGGER Group, Royal Crown, ATI Laminates, Panolam Industries, OMNOVA Solutions, Arpa Industriale, Dura Tuff, and Stylam Industries Ltd.
Laminate Grades Covered:
• Laboratory Grade
• Classic Grade
• Solid Phenolic Backer Grade
• Fire Rated Grade
Laminate Types Covered:
• Vertical Laminates
• Horizontal Laminates
• Internal Wall Cladding
• External Wall Cladding
• Standard/Normal Compact
Laminate Colors Covered:
• Solid Color
Sales Channels Covered:
• Third-Party Online Channel
• Modern Trade Channel
• Specialty Stores
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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