CLEVELAND, OH - U.S. demand for decorative laminates is expected to rise 4.1% per year, reaching 11.9 billion square feet in 2018, a continuation of the improvements seen in recent years. Improved textures and enhanced graphics are among the trends driving demand, according to information in "Decorative Laminates," a study from researcher The Freedonia Group Inc.
Cabinets and furniture were the two largest markets in 2013, accounting for 26% and 23% of the total demand respectively. Demand for low-pressure laminates, which account for 80% of the market, is projected to grow 4.2% annually. High-pressure laminate demand is expected to grow 3.4% annually, while edgebanding material will improve 3.0%.
“Competition from other materials continues to increase based on price, design trends, and greater awareness of the benefits of these alternatives,” said analyst Pamela Safarek. To compete for market share, laminate producers will continue to introduce improved textures and enhanced graphics that rival alternatives such as solid wood and veneer, along with natural stone, at a cost savings, The Freedonia Group reported.
Founded in 1985, The Freedonia Group is a leading international business research company and publishes more than 100 industry research studies annually.