North America Compact Laminate Market

Market Introduction

The North America 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.

North America has reported a huge number of COVID-19 cases, especially in the US, which 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 North American countries, i.e., Mexico, Canada, and Cuba. However, the countries are likely to overcome this drop with the economic activities regaining their pace in 2021.

North America Compact Laminate Strategic Insights

Strategic insights for the North America 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.

North America Compact Laminate Report Scope

North America Compact Laminate Regional Insights

The geographic scope of the North America 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 North America is expected to grow from US$ 608.76 million in 2021 to US$ 777.52 million by 2028; it is estimated to grow at a CAGR of 3.6% from 2021 to 2028. The increasing trend of interior design in homes and in residential buildings in North America is driving the growth of the compact laminate market. The interior design in North America is following a simple and minimalistic trend. Most of the interior decoration trends in North America will help provide a natural and warm vibe to the building. The improved standard of living among the consumers along with an increasing trend of interior design in the households as well as residential buildings in North America has driven the demand for compact laminates as it is used to create stylish wall panels with the use of deigns, which includes high gloss sheets, patterned laminates, and realistic-looking laminate wood. The design element of compact laminates will provide warmth and a unique feel which makes it a convenient solution for the interior design trend prevailing in North America. The construction industry in North America has been on a rise and there is an increase in the number of housing units, which is due to the low borrowing cost as well as wage growth. The ongoing infrastructural projects along with smart city projects are driving the construction industry. As the construction industry is rising, the demand for compact laminates is also increasing as these are used for external as well as internal cladding of residential and commercial buildings. The compact laminates in the construction industry are mainly used for external protection from extreme weather conditions along with providing an aesthetic look to the building, Thus, a rise in the construction industry will increase the demand for compact laminates in North America.

Key Market Segments

Based on product, the interior wall cladding segment accounted for the largest share of the North America compact laminate market in 2020. Based on application, the commercial segment accounted for the largest share of the North America 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 North America 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 North America 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 North America compact laminate market
• Efficiently plan M&A and partnership deals in North America 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 North America compact laminate market
• Obtain market revenue forecast for market by various segments from 2019-2028 in North America region.

North America Compact Laminate Market Segmentation

North America Compact Laminate Market -B

y Product

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

North America Compact Laminate Market -By Application

• Residential
• Commercial
• Industrial

North America Compact Laminate Market – By Country

• US
• Canada
• Mexico

North America 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 Crown
• Wilsonart LLC