Decorative Laminates Market Trends

Introduction

The Decorative Laminates Market is a global industry characterized by the production of decorative laminates, which is expected to grow at a CAGR of 7.6% from 2015 to 2024. It is expected that the decorative laminates industry will grow mainly because of technological advances in the production process, which are enhancing the product's life and aesthetics, and also due to the increased pressure on the industry to use more sustainable and environment-friendly materials. The reshaping of consumer behavior, in particular the growing demand for flexible and individualized interior design solutions, will also affect the market. The aforementioned trends are of strategic importance to industry players, as they not only influence product development and innovation, but also determine the competitive positioning of the product in an increasingly crowded market.

Top Trends

1. Sustainability Initiatives
   Using the green laminates is a big business. The Greenlam Industries group is the world leader in this field. Recent studies have shown that seven out of ten consumers prefer products made from renewable resources. The manufacturers are therefore investing in the sustainable economy, which could lead to higher operating costs, but also to the development of new markets for green products.
2. Technological Advancements
   The new possibilities of printing technology are making decorative laminates more attractive, and enabling more complex designs and textures. For example, digital printing has a major influence on the availability of designs, with a reported increase of up to 40 per cent. Competition amongst manufacturers is likely to lead to a higher level of technology, to satisfy the demands of consumers.
3. Customization and Personalization
   Customized decorative laminates are in great demand. Formica and other companies are now offering customized solutions, and the percentage of custom orders is up 30 percent. Customization will increase loyalty and will also generate new revenue for companies that can handle it efficiently.
4. Growth in Commercial Applications
   For office and retail use, the durable and aesthetically pleasing decorative laminate is being increasingly adopted. According to reports, approximately sixty per cent of all new commercial buildings are now built with decorative laminate. This trend will probably result in an increase in demand for commercial products.
5. Health and Safety Regulations
   Health and safety regulations are increasingly influencing the materials used in the manufacture of laminated boards. Low VOC and non-toxic products are in demand. These regulations are being adapted to by the leading companies, as shown by a 25% increase in production of compliant products. This trend is expected to spur innovation in material science, resulting in safer and more sustainable laminates.
6. Digital Marketing Strategies
   The rise of digital marketing is changing the way that laminates are marketed, with companies using social media and e-commerce platforms. A recent survey showed that 50 per cent of consumers now research products on the Internet before making a purchase, prompting laminate manufacturers to invest in their digital presence. This trend is likely to increase competition and lead to further investment in digital marketing strategies.
7. Emerging Markets Expansion
   Demand for decorative laminates has been rising rapidly in emerging markets, particularly in Asia-Pacific, where urbanization and rising incomes have sparked a boom in demand. By 2025, it is estimated that laminates from these regions will account for 40 percent of total laminate consumption. And as the demand for laminates grows, manufacturers are setting up local production sites to meet the growing demand.
8. Integration of Smart Technologies
   Moreover, the integration of smart materials into decorative laminates is on the rise, and products are now available that offer features such as antimicrobial properties and self-cleaning surfaces. In the course of this development, companies are investing in research and development, and the market for smart laminates is set to grow by a reported 15%. This trend is expected to create new opportunities and attract technology-savvy consumers.
9. Collaboration with Designers
   A collaboration between laminate manufacturers and interior designers is becoming increasingly common, resulting in the development of new products that are tailored to the latest design trends. A study conducted in Japan* has shown that 35% of designers prefer to work with brands that offer opportunities for collaboration. This trend is likely to make products more relevant and drive sales through targeted marketing.
10. Focus on Aesthetic Trends
    Similarly, trends in design, such as minimalism and natural finishes, have also influenced the development of decorative laminates. Recent research shows that wood finishes are currently the most popular. The trend towards natural finishes is expected to drive product development, encouraging manufacturers to focus on aesthetics and functionality.

Conclusion: Navigating Competitive Waters in Laminates

The global decorative laminates market is characterized by intense competition and significant fragmentation, with a large number of both established and new companies competing for market share. In general, the trend is towards sustainable and innovation-driven solutions, which has led to a shift in the strategies of companies. The established players are focusing on their established brand equity and distribution channels, while the new companies are focusing on agility and the latest technological developments. Artificial intelligence-driven design and automation in production will be the decisive factors for future market leadership. As the market changes, companies must adapt their offerings to the preferences of consumers and ensure that they have the agility to respond to these preferences.