Asia Pacific Compact Laminate Market

Market Introduction

The Asia Pacific compact laminate market is

a

highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. The manufacturers in the compact laminate market are focusing on R&D to provide compact laminates. There has been a rising trend in compact laminate manufacturers to provide compact laminate having antibacterial properties. Due to the COVID-19 pandemic, companies are focusing on providing COVID-19 resistant laminates. For instance, in November 2020, Greenlam Industries introduced the first COVID-19 resistant laminates along with antifungal and antibacterial properties. The laminate has proven effective against SARS-COV-2 with 99% efficacy within 20 minutes. The manufacturers are focusing on producing best-in-class as well as health safe products to the consumers. The demand for antiviral products has encouraged laminate manufacturers to produce surfaces that will be safe to touch. Thus, focus on R&D to produce technologically superior quality surface is going to be one of the major trends in the compact laminate market.

Asia Pacific has reported a huge number of COVID-19 cases, especially in India. This has led to the discontinuation of compact laminate manufacturing activities. The downfall of other chemical and materials manufacturing industries negatively impacted the demand for compact laminate during the early months of 2020. Moreover, the decline in the overall interior and outdoor designing activities has led to the discontinuation of compact laminate manufacturing projects. A similar trend was witnessed in other Asia Pacific countries, i.e., Japan, China, and Australia. However, the countries are likely to overcome this drop with the economic activities regaining their pace, especially at the beginning of 2021.

 

Asia Pacific Compact Laminate Strategic Insights

Strategic insights for the Asia Pacific Compact Laminate provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Compact Laminate Report Scope

Asia Pacific Compact Laminate Regional Insights

The geographic scope of the Asia Pacific Compact Laminate refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Market Overview and Dynamics

The compact laminate market in Asia Pacific is expected to grow from US$ 1,840.77 million in 2021 to US$ 2,529.97 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The increase in residential and commercial construction will lead to an increased demand for interior decoration or design. The consumer’s choice and innovative ideas have an impact on house renovation along with choosing various types of furniture and furnishings to alter a living room or bedroom or even a bathroom. The increased demand for interior design or home decoration in Asia Pacific is due to the rise in the construction of new buildings as well as commercial spaces. The offices, clubs, and homes owners are inclining toward creative interior designing, which requires home decor products to justify the creativity and ideas of the designer. The rising trend of using compact laminates to provide fashionable as well as an aesthetic look and feel will increase its demand in the interior design market. The home designing trends continue to change, thus the textures, designs, and colors of the compact laminates should also change and evolve according to the latest trends. Therefore, it is essential for market players to manufacture trending compact laminates to sustain business growth. Along with this, an increased presence of domestic and international compact laminate players in Asia Pacific is providing various growth opportunities for the market. For instance, Greenland Industries Ltd. announced a capacity expansion for laminates in Nalagarh, Himachal Pradesh, India. The expanded capacity will be manufacturing an additional 1.6 million laminates sheets per annum. Thus, such expansion will boost production and will drive the compact laminate market in the Asia Pacific.

Key Market Segments

Based on product, the interior wall cladding segment accounted for the largest share of the Asia Pacific compact laminate market in 2020. Based on application, the commercial segment accounted for the largest share of the Asia Pacific compact laminate market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Asia Pacific compact laminate market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Aica Kogyo Co., Ltd.; EGGER Group; Greenlam Industries Ltd.; Wilsonart LLC; Merino Laminates Ltd.; Swiss Krono Group; Trespa International B.V.; Lamitech Inc.; Kronoplus Limited; and Royal Crown.

Reasons to buy report

• To understand the Asia Pacific compact laminate market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia Pacific compact laminate market
• Efficiently plan M&A and partnership deals in Asia Pacific compact laminate market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific compact laminate market
• Obtain market revenue forecast for market by various segments from 2019-2028 in Asia Pacific region.

Asia Pacific Compact Laminate Market Segmentation

Asia Pacific Compact Laminate Market -B

y Product

• External Wall Cladding
• Internal Wall Cladding
• Standard Compact
• Others

Asia Pacific Compact Laminate Market -By Application

• Residential
• Commercial
• Industrial

Asia Pacific Compact Laminate Market – By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

Asia Pacific Compact Laminate Market – Company Profiles

• Aica Kogyo Co. Ltd.
• EGGER Group
• Greenlam Industries Ltd.
• Swiss Krono Group
• Trespa International B.V.
• Lamitech Inc.
• Kronoplus Limited
• Merino Laminates Ltd.
• Royal CrownWilsonart LLC