Demand for decorative laminate in the U.S. is expected to rise 5.5 percent a year reaching 12.4 billion square feet in 2015, according to The Freedonia Group in its latest “Decorative Laminates” report.
This rebound in demand comes on the heels of a 5-year period of decline during the Great Recession. From 2005 to 2010 U.S. demand dropped 6.7 percent, from 13,430 billion square feet to 9,510 billion square feet. However, with the improving economy, including lower unemployment and slight upticks in the housing market, U.S. demand for decorative laminate is expected to reach 12,400 billion square feet by 2015, however, still not quite matching the 2005 level.
According to the report, low-pressure laminates are expected to rise 5.7 percent a year until 2015. Although the cabinet market will continue to account for most of the demand for decorative laminates, the flooring market is expected to drive most of the growth through 2015.
The Decorative Laminate report is available through The Freedonia Group.
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