Compact Laminate Market
Compact Laminate Market Forecasts to 2030 - Global Analysis By Product Type (Internal Wall Cladding, Standard/Normal Compact, External Wall Cladding and Other Product Types), Laminate Type, Laminate Grade, Color, Sales Channel, End User and By Geography
According to Stratistics MRC, the Global Compact Laminate Market is accounted for $3,832.7 million in 2023 and is expected to reach $5,725.0 million by 2030 growing at a CAGR of 5.9% during the forecast period. Compact laminate is a high-pressure decorative laminate composed of multiple layers of Kraft paper impregnated with phenolic resin. These layers are pressed together under high pressure and temperature to create a solid, durable material known for its strength, resistance to moisture, impact, and chemical damage. Its versatility, durability, and hygienic properties make it a preferred choice for both residential and commercial spaces where high-performance surfaces are required.
Market Dynamics:
Driver:
Expanding construction
As construction activities increase worldwide, there is a growing demand for durable, versatile, and aesthetically pleasing building materials like compact laminate. It finds application in various interior surfaces such as countertops, tabletops, wall panels, cabinetry, and partitions. Furthermore, as urbanization accelerates and infrastructure development projects expand, the demand for compact laminate in public spaces, transportation hubs, and recreational facilities also grows.
Restraint:
High initial cost
The cost of compact laminate is influenced by several factors, including the quality of materials used, manufacturing processes, and brand reputation. Additionally, installation expenses may also contribute to the overall cost, especially for complex projects requiring specialized skills or equipment. This can deter price-sensitive consumers or businesses, particularly in projects with strict budget constraints, which is impeding this market size.
Opportunity:
Technological advancements
Continuous innovation in manufacturing processes, materials, and design techniques has led to significant improvements in the quality, performance, and versatility of compact laminate products. Advancements in digital printing and surface finishing technologies have expanded the design possibilities for compact laminate, enabling the replication of natural materials. Furthermore, this enhances the aesthetic appeal of compact laminate products and broadens their suitability for diverse interior design styles and preferences, which drives this market.
Threat:
Installation complexity
Compact laminate often requires specialized skills, tools, and techniques for proper installation. This complexity can increase the overall time and cost associated with installation, potentially deterring some consumers or businesses from choosing compact laminate for their projects. Additionally, the weight and thickness of compact laminate can pose challenges during transportation, handling, and installation which are hampering this market further.
Covid-19 Impact
The COVID-19 pandemic has had several negative impacts on the compact laminate market worldwide. The economic downturn caused by the pandemic led to decreased consumer spending and investment in construction projects. Widespread lockdown measures and restrictions on construction activities significantly disrupted supply chains, leading to delays in manufacturing and distribution. Moreover, this resulted in project delays and cancellations, affecting the demand for compact laminate in both residential and commercial sectors.
The laboratory grade segment is expected to be the largest during the forecast period
The laboratory grade segment is estimated to hold the largest share due to stringent quality standards, ensuring consistent performance and reliability in demanding environments. Its non-porous surface prevents the absorption of liquids and contaminants, minimizing the risk of bacterial growth and facilitating thorough disinfection. Furthermore, the unique needs of scientific and research facilities, providing them with reliable, long-lasting surfaces that promote cleanliness, safety, and efficiency in their operations, drive the segment's growth.
The vertical laminates segment is expected to have the highest CAGR during the forecast period
The vertical laminates segment is anticipated to have highest CAGR during the forecast period due to their availability in a wide range of colors, patterns, and textures, allowing designers and architects to create visually appealing spaces tailored to their clients' preferences and project requirements. Vertical laminates offer flexibility in design, enabling the incorporation of features like integrated storage, signage, or branding elements into the surface, which is boosting this segment’s expansion.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period owing to increasing construction activities, rising disposable incomes, urbanization, and the growing demand for modern, durable building materials. This region is home to some of the key players, such as Merino, Greenlam, Kronospan, and Roseburg. Moreover, the rising awareness of hygiene and cleanliness standards in various sectors is driving this region’s growth.
Region with highest CAGR:
Europe is expected to witness highest CAGR over the projection period. Due to a focus on quality and durability, compact laminate products are widely used across Europe in various applications such as kitchen countertops, bathroom partitions, wall cladding, and furniture. Moreover, the European construction industry's increasing emphasis on sustainability has led to a growing preference for eco-friendly materials like compact laminate, which further fuels the market in this region.
Key players in the market
Some of the key players in the Compact Laminate Market include Wilsonart, Egger, Kronospan, Fletcher Building, Greenlam, Arpa Industriale, ATI Laminates, Merino, Trespa International, Lamitech Inc., Pfleiderer, Guangzhou G&P, OMNOVA Solutions, Panolam Industries, Abet Laminati and Roseburg.
Key Developments:
In February 2024, Roseburg introduced Armorite® Exterior Trim, our latest product innovation joining the Armorite® family of exterior wood products, engineered to weather the rigors of outdoor environments.
Product Types Covered:
• Internal Wall Cladding
• Standard/Normal Compact
• External Wall Cladding
• Other Product Types
Laminate Types Covered:
• Horizontal Laminates
• Vertical Laminates
• Other Laminate Types
Laminate Grades Covered:
• Classic Grade
• Solid Phenolic Backer Grade
• Laboratory Grade
• Fire Rated Grades
Color Covered:
• Wood
• Solid Color
• Other Colors
Sales Channels Covered:
• Modern Trade Channel
• Third-Party Online Channel
• Specialty Stores
End Users Covered:
• Residential
• Commercial/Business
• Industrial
• Hospitals
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Compact Laminate Market, By Product Type
5.1 Introduction
5.2 Internal Wall Cladding
5.3 Standard/Normal Compact
5.4 External Wall Cladding
5.5 Other Product Types
6 Global Compact Laminate Market, By Laminate Type
6.1 Introduction
6.2 Horizontal Laminates
6.3 Vertical Laminates
6.4 Other Laminate Types
7 Global Compact Laminate Market, By Laminate Grade
7.1 Introduction
7.2 Classic Grade
7.3 Solid Phenolic Backer Grade
7.4 Laboratory Grade
7.5 Fire Rated Grades
8 Global Compact Laminate Market, By Color
8.1 Introduction
8.2 Wood
8.3 Solid Color
8.4 Other Colors
9 Global Compact Laminate Market, By Sales Channel
9.1 Introduction
9.2 Modern Trade Channel
9.3 Third-Party Online Channel
9.4 Specialty Stores
10 Global Compact Laminate Market, By End User
10.1 Introduction
10.2 Residential
10.3 Commercial/Business
10.4 Industrial
10.5 Hospitals
10.6 Other End Users
11 Global Compact Laminate Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Wilsonart
13.2 Egger
13.3 Kronospan
13.4 Fletcher Building
13.5 Greenlam
13.6 Arpa Industriale
13.7 ATI Laminates
13.8 Merino
13.9 Trespa International
13.10 Lamitech Inc.
13.11 Pfleiderer
13.12 Guangzhou G&P
13.13 OMNOVA Solutions
13.14 Panolam Industries
13.15 Abet Laminati
13.16 Roseburg
List of Tables
1 Global Compact Laminate Market Outlook, By Region (2021-2030) ($MN)
2 Global Compact Laminate Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Compact Laminate Market Outlook, By Internal Wall Cladding (2021-2030) ($MN)
4 Global Compact Laminate Market Outlook, By Standard/Normal Compact (2021-2030) ($MN)
5 Global Compact Laminate Market Outlook, By External Wall Cladding (2021-2030) ($MN)
6 Global Compact Laminate Market Outlook, By Other Product Types (2021-2030) ($MN)
7 Global Compact Laminate Market Outlook, By Laminate Type (2021-2030) ($MN)
8 Global Compact Laminate Market Outlook, By Horizontal Laminates (2021-2030) ($MN)
9 Global Compact Laminate Market Outlook, By Vertical Laminates (2021-2030) ($MN)
10 Global Compact Laminate Market Outlook, By Other Laminate Types (2021-2030) ($MN)
11 Global Compact Laminate Market Outlook, By Laminate Grade (2021-2030) ($MN)
12 Global Compact Laminate Market Outlook, By Classic Grade (2021-2030) ($MN)
13 Global Compact Laminate Market Outlook, By Solid Phenolic Backer Grade (2021-2030) ($MN)
14 Global Compact Laminate Market Outlook, By Laboratory Grade (2021-2030) ($MN)
15 Global Compact Laminate Market Outlook, By Fire Rated Grades (2021-2030) ($MN)
16 Global Compact Laminate Market Outlook, By Color (2021-2030) ($MN)
17 Global Compact Laminate Market Outlook, By Wood (2021-2030) ($MN)
18 Global Compact Laminate Market Outlook, By Solid Color (2021-2030) ($MN)
19 Global Compact Laminate Market Outlook, By Other Colors (2021-2030) ($MN)
20 Global Compact Laminate Market Outlook, By Sales Channel (2021-2030) ($MN)
21 Global Compact Laminate Market Outlook, By Modern Trade Channel (2021-2030) ($MN)
22 Global Compact Laminate Market Outlook, By Third-Party Online Channel (2021-2030) ($MN)
23 Global Compact Laminate Market Outlook, By Specialty Stores (2021-2030) ($MN)
24 Global Compact Laminate Market Outlook, By End User (2021-2030) ($MN)
25 Global Compact Laminate Market Outlook, By Residential (2021-2030) ($MN)
26 Global Compact Laminate Market Outlook, By Commercial/Business (2021-2030) ($MN)
27 Global Compact Laminate Market Outlook, By Industrial (2021-2030) ($MN)
28 Global Compact Laminate Market Outlook, By Hospitals (2021-2030) ($MN)
29 Global Compact Laminate Market Outlook, By Airports (2021-2030) ($MN)
30 Global Compact Laminate Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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