The market for paper-based laminates is projected to grow from US$ 336.9 Mn in 2022 to US$ 559.4 Mn in 2032. Over the projection period, it is expected that sales of laminates made of paper will increase at a CAGR of 5.2%. These elements are responsible for this growth:
Paper-based laminates are rising in popularity due to their sustainability, usability, and applicability as surface substitutes.
People are highly encouraged to embrace this product and increase sales of paper-based laminates since they are utilised more commonly for light-duty and low-wear applications.
Outstanding mechanical strength, little moisture absorption, strong insulation resistance, simplicity of machining to a high degree of polish, and excellent electrical insulating qualities are only a few benefits of paper-based laminates.
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Key Players Opting for Collaboration and Innovations to Capture Greater Market Share
The major market participants are always working to innovate and work together to provide high-quality laminates made of paper. They are encouraging the industry to embrace more of these surface elements by employing paper-based laminates in conventional, cost-effective methods, which is boosting the market’s expansion.
Greenlam Industries Ltd., one of the top three laminate producers in the world and the biggest in Asia, introduced innovative laminates in November 2020 that are effective against SARS-CoV-2 with 99% efficacy within 30 minutes of contact with the laminate surface and destroy the virus totally in 45 minutes.
The following companies have been identified as key market participants in the worldwide paper-based laminates market:
- Kevin Polymers Pvt. Ltd
- Attwater & Sons Ltd.
- Custom Composites Ltd
- Eagle Insulation
- Impreglam Electronics Limited
- Bakelite Hylam Limited
- Greycon
- Guangzhou Remica Building Materials Co., Ltd
- Kblaminates
- Sigma Laminates.
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Global Paper Based Laminates Market: Market Dynamics
The factors boosting the growth of global paper based laminates market is due to growing building & construction industry, since many years paper has become an increasing preference for surface upgrading of wood-based materials. For higher voltage and when greater electrical stability is needed in varying humidity higher grades of paper based laminates are chosen.
The factor decreasing the demand for global paper based laminates is due to property of paper based laminates, strength of paper based is not as high as other materials and hence are not preferred in application where high toughness, high bearing property and high stress carrying capability is required.
Trends in Paper Based Laminates Market
Technology improvements and the expansion of creative innovations are driving the demand for paper based laminates. Along with technical breakthroughs, production procedures have been upgraded to enable new future patterns and designs, including metal surfaces, gloss, and three-dimensional surfaces. The development of next-generation paper based laminates with tiny aluminum oxide particles functions as a barrier or protective layer that enables color/gloss preservation and scratch resistance due to technological advancements.
Furthermore, manufacturers of high-pressure laminates can generate newer and more improved goods by allowing advanced R&D projects to stimulate innovation. With the use of cutting-edge technologies, the designer’s concept can now be transferred digitally and directly to the company facilities, which can further produce various digital sheets of any product type.
Key Dynamics of Paper Based Laminates Market
- The growing building and construction sector is one of the elements driving the expansion of paper-based laminates in the global market.
- According to FMI, paper and wood-based products are anticipated to be preferred more during the forecast period.
- In the building sector, paper-based laminates are widely utilized to give surfaces a beautiful and excellent finish.
- Additionally, laminates made of paper have great insulating qualities. They endure a lot longer without deteriorating since they absorb very little moisture.
- Due to their excellent insulating resistance and simple machining to a superior polish and improved mechanical strength, paper based laminates market players are highly competitive.
Key Segments in the Paper Based Laminates Market
By Type:
- B5
- B4PQ
- B4
- B1
By Application:
- Commercial industry
- Automotive industry
- Manufacturing industry
- Infrastructure
- Hospitality industry
- Retail
- Healthcare industry
By Base Finish:
- Satin
- Gloss
- Matte
By Basis of Paper Type:
- Decor paper
- Overlay
- Laminating Kraft
- Absorbent Kraft
By Basis of Pressure:
- Low-pressure laminates
- High-pressure laminates
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