LONDON--(BUSINESS WIRE)--The decorative laminates market in the US 2018-2022 is expected to post a CAGR of close to 3% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the product innovations and new designs. The demand for decorative laminates is gaining momentum in the US, led by the advancements in technology and rise in innovations. Along with technological advancements, production techniques are also improving to support the new upcoming patterns and designs such as metal surfaces, gloss, and three-dimensional surfaces.
This market research report on the decorative laminates market in the US 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing adoption of RTA floorings and furniture cabinets as one of the key emerging trends in the decorative laminates market in the US:
Decorative laminates market in the US: Growing adoption of RTA floorings and furniture cabinets
The growing adoption of RTA flooring along with furniture cabinets drive the demand for HPLs. HPLs are used on various horizontal surfaces, including flooring and countertops. Due to the advanced performance characteristics such as long-term durability and greater resistance to scratches, the demand will increase for HPL during the forecast period.
“HPLs are considered as the most durable decorative surface materials and have properties such as chemical, fire, and wear resistance. They are mainly used in high-traffic areas such as office furniture, healthcare, hospitality, commercial interiors, retail casework, and educational facilities. They are also considered among the most hygienic materials,” says a senior market research analyst at Technavio.
Decorative laminates market in the US: Segmentation analysis
This market research report segments the decorative laminates market in the US by application (furniture and cabinets, flooring, wall panels, and others) and product (LPL, HPL, and edge banding).
Among various product segments, the LPL segment occupied the maximum share of more than 79%. This segment is expected to continue to dominate the market during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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