Market Introduction
The South 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 are developing innovative products, which will fulfill the consumer requirements and will improve the overall consumer experience. The manufacturers in the market are focusing on producing compact laminates having melamine resin impregnated core. The compact laminate made from melamine resin surface is inherently hygienic and can be disinfected, which is because of the density of its surface and ease of cleaning. The antibacterial protection on compact laminates delays the growth of up to 99.9% of the most frequent bacteria. EGGER Group has produced compact laminates, which are made of melamine-resin-impregnated core papers and are used in tabletops and worktops, shop fittings, as well as individual furniture with special design requirements. Additionally, it has an antibacterial surface property, which is in accordance with ISO 22196. Thus, these innovative products are providing various growth opportunities in the compact laminate market.
South America reported a huge number of COVID-19 cases, especially Brazil, 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 South American countries, i.e., Argentina, Colombia, Peru, and Chile. 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 South America is expected to grow from US$ 252.57 million in 2021 to US$ 294.45 million by 2028; it is estimated to grow at a CAGR of 2.2% from 2021 to 2028. Brazil is one of the leading countries in South America which is providing growth opportunities for the compact laminate market. The rising construction industry is expected to fuel the compact laminate market in the upcoming years. The residential and commercial sectors are yet another rapidly growing industries, which are expected to drive market growth in the future. Argentina is another important country that is contributing to the growth of the compact laminate market. The rising demands of compact laminates in the residential and commercial sectors are mainly driving the compact laminate market in Argentina. Compact laminates have a high upfront cost but their low installation and maintenance cost will reduce the overall construction costs, and improve efficiency, propelling the residential & commercial building constructors to embrace the compact laminates, thereby driving the compact laminates market in the country. As a developing country, the consumers in Argentina looking for long-term investment and products which are durable and long-lasting. Compact laminates provide such consumers with durability as well as lower maintenance cost that will attract the residential and commercial consumers in the country.
Key Market Segments
Based on product, the interior wall cladding segment accounted for the largest share of the South America compact laminate market in 2020. Based on application, the commercial segment accounted for the largest share of the South 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 South 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 EGGER Group; Greenlam Industries Ltd.; Wilsonart LLC; Merino Laminates Ltd.; Swiss Krono Group; Trespa International B.V. and Royal Crown.
Reasons to buy report
South America Compact Laminate Market Segmentation
South America Compact Laminate Market -By Product
South America Compact Laminate Market -By Application
South America Compact Laminate Market – By Country
South America Compact Laminate Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 252.57 Million |
| Market Size by 2028 | US$ 294.45 Million |
| CAGR (2021 - 2028) | 2.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Compact Laminate Market is valued at US$ 252.57 Million in 2021, it is projected to reach US$ 294.45 Million by 2028.
As per our report South America Compact Laminate Market, the market size is valued at US$ 252.57 Million in 2021, projecting it to reach US$ 294.45 Million by 2028. This translates to a CAGR of approximately 2.2% during the forecast period.
The South America 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 South America Compact Laminate Market report:
The South America Compact Laminate Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Compact Laminate Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Compact Laminate Market value chain can benefit from the information contained in a comprehensive market report.
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