Demand for decorative laminates to reach 10.7 billion m2 in 2018
20 January 2015Global demand for decorative laminates is expected to rise 5.6% per year to 10.7 billion m2 in 2018, valued at US$40.8bn says a new study World Decorative Laminates from The Freedonia Group, Inc, a Cleveland-based industry market research firm.
Demand will benefit from expected increases in the manufacture of products such as cabinets, ready-to-assemble (RTA) furniture, and flooring, which are often made from engineered wood and laminated, says the 373-page report.
Gains will also be driven by increased market penetration at the expense of other surfacing materials (wood veneer and paint) due to cost and performance benefits.
Furniture and cabinets were the largest markets for decorative laminates in 2013, accounting for nearly 70% of total demand.
The Asia/Pacific region was the largest market for decorative laminates in 2013, with nearly 50% percent of the global total. Analyst Pam Safarek notes that: "the region benefits from its leading position in engineered wood production, particularly particleboard and MDF, which are often given a laminate layer at the point of production."
Advances for laminates will be propelled by the continuing development of the large Chinese market, which alone accounted for 31% of global demand in 2013.
China is the world's largest producer of RTA furniture and laminate flooring. India is expected to post the most rapid gains in laminate demand worldwide through 2018.
Well-established decorative laminate industries are found in Western Europe and the US, where engineered wood and paper industries are highly developed. www.freedoniagroup.com
