Compact Laminate Market Anticipated to Grow at a Significant Pace by 2028


Global industry analysis

The Compact Laminate Market has seen a significant growth in recent years, primarily due to its numerous advantages over conventional materials such as wood and aluminum. Compact laminates are composed of several layers of paper impregnated with thermosetting resins and bonded together under high temperature and pressure.

Compact laminates are ideal for a variety of interior applications. For laminate surfaces, it can be used vertically or horizontally to protect the surface from deterioration, scratches, water and fire. Compact laminates give the surface a longer life and a more attractive appearance.

The compact laminate is suitable for ‘high traffic’ locations and is ideal for humid areas as it is impervious to water. And the compact laminate panels have the added benefit of including innovative silver-ion Biocote technology that continuously destroys bacteria for the life of the panel.

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Compact Laminates Market Dynamics

The major factors driving the compact laminate market include upcoming cultural and fashion trends in interior design, growing demand from the flooring industry, cabinetry, and rebounding housing market.

Advances in technology and growth in artistic innovation are driving the demand for compact laminates. With technological advances, production techniques have improved to support new patterns and designs such as metallic surfaces, polished and three-dimensional surfaces.

Technological improvements have led to the development of a new generation of compact laminates that contain thin microscopic grains of aluminum oxide, which act as a barrier or protective layer providing color/gloss retention and scratch resistance. There is a growing demand for compact laminates in a variety of styles, colors, designs and textures, including wood, natural tile, ceramic and metal.

This in turn is expected to propel the demand for compact laminates. Through constant innovation, we expect to improve product diversification from traditional uses to new applications in automotive, electronics and construction. This in turn is expected to propel the demand for compact laminates over the forecast period.

The high cost of compact laminates serves to restrain the market growth. Availability of counterfeit products is expected to negatively impact the market growth in few regions.

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Small Laminate Market Segmentation

The global market for compact laminates is segmented on the basis of laminate type, laminate grade, laminate color, application, and sales channel. Based on laminate type, compact laminates are classified into horizontal and vertical laminates. Based on the laminate grade, compact laminates are classified into classic grade, fire resistant grade, laboratory grade and solid phenolic support grade. In terms of laminate color, compact laminates are categorized as solid, wood, and others.

In terms of application, compact laminates are divided into residential, commercial and industrial. On the basis of sales channel, compact laminates are classified into Hyundai trade channels, third-party online channels, specialty stores, Hyundai trade channels, and other sales channels.

Compact Laminates Market Regional Overview

Geographically, the compact laminates market can be segmented into North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. North America is expected to hold a significant share in the compact laminates market during the forecast period. Asia Pacific is estimated to be a fast-growing region for the compact laminate market owing to increasing demand for compact laminate in residential and non-residential sectors.

Rise in disposable income, economic growth, rising standard of living, and growth in home construction are some of the factors driving the compact laminate market in Asia Pacific. The Middle East and Africa are likely to be attractive regions for the compact laminates market during the forecast period, owing to the increasing number of tourist hotels in these regions and the growth of the construction industry.

Prominent players in the compact laminate market

The global market for compact laminates is driven by several regional and global players with some new entrants. Major players in the global compact laminates market include Fletcher Building, ATI Laminates, Kronospan, Wilsonart, Trespa International, Lamitech, Swiss Krono, Dura Tuff, Greenlam, Egger Roseburg, Crown, Aogao and other prominent players.

Small Laminate Market Competitive Assessment

The global compact laminates market is defined by the presence of well-established players and some major competitors operating in the market, including new entrants, suppliers, vendors, and distributors. Key players continue to focus on expanding their geographic reach, expanding their customer base, expanding their product portfolios and new developments.

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The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on ‘green alternatives’, recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing – ‘The Way Forward’. 

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