Laminate boards refer to a multi-layered solid board that is manufactured with craft paper, box boards, films, foils, paper, or other materials bonded in webs or sheets. It is lamination of successive layers of a substance, such as wood, bonding them with resin to form a finished product. It is most commonly used to manufacture furniture as it provides a decorative look at comparatively less price. Laminated boards also improve the strength and durability of the furniture and they are resistant to moisture. Laminate boards are versatile and available in a wide variety of sizes, grades, and exposure durability classifications that are found to be significant in various uses such as construction, industrial, and residential applications. In addition, laminate boards are designed to meet application-specific performance requirements. This is expected to boost the demand for laminate boards during the forecast period across the globe.
Major drivers of the global laminate boards market are rapid growth in interior design across commercial, industrial, and residential sectors that use laminate boards for innovative furniture and decorative design. Increase in adoption of light weight laminate board furniture in affordable prices along with usage of environmentally friendly product that act substitute for wood is gaining traction as propel the market. Laminate board with low ability to support heavy weight as compared to other engineered woods areÂ found to be difficult to repair are acting as restraints of the global laminate boards market. However, new product development with innovative designs and collaboration with interior design service providers and furniture manufacturers are expected to create significant opportunities in the global laminate boards market.
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The global laminate boards market can be segmented based on product, raw material, pressure applied, end-use, category, distribution channel, and region. In terms of product, the laminate boards market can be classified into printed, lacquered, and embossed. Based on raw material the laminate boards market is segregated into wood substrate, plastic resins, and others. Based on pressure applied, the laminate boards market is segregated into high pressure laminate board, and low pressure laminate board. Based on end-use, the global laminate boards market can be divided into industrial, commercial, and residential. In terms of category, the market can be classified into popular price, premium price, and super premium price. Based on distribution channel, the global laminate boards market can be bifurcated into offline and online. The offline segment can be divided into large format stores, specialty stores, and independent retailers.
In terms of region, the global laminate boards market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Increase in awareness about the product and its usage in various application sectors has propelled the demand for laminate boards in North America. Improvement in texture and innovative printing techniques of laminate boards is expected to drive the laminate boards market in Europe. Rapid growth in construction has led to improving interior design of residential and commercial sectors along with increase in sales of innovative furniture, flooring, and decorative products which has fueled the growth of the laminate boards market in Asia Pacific. The market in Middle East & Africa is expected to be propelled by increasing focus on commercial infrastructure and low-cost housing. As a result, demand for laminate boards is likely to remain strong during the forecast period. South America is also estimated to be an attractive market for laminate boards in the next few years.
Major players operating in the global laminate boards market include MG Chemicals, Presco Europe, XLam NZ Ltd., Jacobsen Creative Surfaces Ltd, HARO Flooring New Zealand, Rogers Corporation, Nikkan Industries Co., Ltd., SWISS KRONO sp. z o.o., Polyrey, Wilsonart Engineered Surfaces, Leitz Tooling Systems India Pvt. Ltd., Cedar Decor Pvt Ltd., Kingboard Laminates Holdings Ltd, Greenlam Industries Limited, API Group, The Joubert Group, and ISOLA Group.
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