Global Decorative Laminates Market in US 2020-2024 | Product Innovations and New Designs to Boost Market Growth | Technavio

Technavio has published a latest market research report titled Decorative Laminates Market in US 2020-2024 (Graphic: Business Wire)

LONDON--()--The decorative laminates market in US is expected to grow by USD 0.96 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report

Advances in technology and the launch of innovative products are fueling the demand for decorative laminates in the US. Vendors are also adopting new production techniques to support new patterns and designs such as metal surfaces, gloss, and three-dimensional surfaces. For instance, in 2018, Wilsonart LLC introduced Blurred Lines, a new laminate collection for residential customers. The company is also offering traceless laminates that feature fingerprint resistance. The launch of such innovative products is attracting consumer interest, which will be crucial in driving the growth of the decorative laminates market.

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As per Technavio, the increase in construction activities will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Decorative Laminates Market in US: Increase in Construction Activities

The rise in the number of construction activities and the rising demand for home improvement products are factors driving the sale of decorative laminates in the US. In addition, high demand, especially from the millennial population in the country, is significantly driving investments in housing units. In addition, factors such as rising disposable incomes and the shift from normal flooring toward decorative laminates is expected to boost the growth of the decorative laminates market in the US during the forecast period.

“Increasing adoption of RTA floorings and furniture and cabinets and rise in the number of M&A activities will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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Decorative Laminates Market in US: Segmentation Analysis

This market research report segments the decorative laminates market in US by Application (Furniture and cabinets, Flooring, Wall panels, and Others) and Product (LPL, HPL, and Edgebanding).

The LPL segment led the decorative laminates market in US in 2019, followed by HPL, and Edgebanding respectively. During the forecast period, the LPL segment is expected to register the highest incremental growth due to the rise in the demand for LPL from residential users.

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Some of the key topics covered in the report include:

Application

  • Furniture and cabinets
  • Flooring
  • Wall panels
  • Others

Product

  • LPL
  • HPL
  • Edgebranding

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The decorative laminates market size in the US has the potential to grow by USD 0.96 billion during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/