Market Introduction
The Middle East and Africa 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.
The Middle East and Africa reported a huge number of COVID-19 cases, especially in South Africa, which has led to the discontinuation of compact laminate manufacturing activities. The downfall of 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 Middle Eastern and African countries, i.e., the UAE and Saudi Arabia. However, the countries are likely to overcome this drop with the economic activities regaining their pace in 2021.
Market Overview and Dynamics
The compact laminate market in Middle East and Africa is expected to grow from US$ 210.06 million in 2021 to US$ 252.58 million by 2028; it is estimated to grow at a CAGR of 2.7% from 2021 to 2028. The demand for cladding products in the Middle East and Africa is one of the factors that is driving the compact laminate market in the region. The increase in the refurbishment projects for multi-storied and multifamily construction is driving the demand for external cladding products, which, in turn is leading to an increase in demand for compact laminates. The refurbishment activities for existing buildings and communities are growing year-on-year in the Middle East and Africa, which is providing growth opportunities for the compact laminate market in the region. Consumers in the Middle East and Africa are demanding customized rain-screen cladding, which is providing an opportunity for the compact laminate manufacturers in the region to provide such customized products and boost the growth of the compact laminate market.
Key Market Segments
Based on product, the interior wall cladding segment accounted for the largest share of the Middle East and Africa compact laminate market in 2020. Based on application, the commercial segment accounted for the largest share of the Middle East and Africa 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 Middle East and Africa 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 EGGER Group; Greenlam Industries Ltd.; Wilsonart LLC; Merino Laminates Ltd.; Swiss Krono Group; and Trespa International B.V.
Reasons to buy report
Middle East and Africa Compact Laminate Market Segmentation
Middle East and Africa Compact Laminate Market -By Product
Middle East and Africa Compact Laminate Market -By Application
Middle East and Africa Compact Laminate Market – By Country
Middle East and Africa Compact Laminate Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 210.06 Million |
| Market Size by 2028 | US$ 252.58 Million |
| CAGR (2021 - 2028) | 2.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East and Africa Compact Laminate Market is valued at US$ 210.06 Million in 2021, it is projected to reach US$ 252.58 Million by 2028.
As per our report Middle East and Africa Compact Laminate Market, the market size is valued at US$ 210.06 Million in 2021, projecting it to reach US$ 252.58 Million by 2028. This translates to a CAGR of approximately 2.7% during the forecast period.
The Middle East and Africa Compact Laminate Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Compact Laminate Market report:
The Middle East and Africa Compact Laminate Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Compact Laminate Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Compact Laminate Market value chain can benefit from the information contained in a comprehensive market report.
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