BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the GCC decorative laminates market size at USD 203.3 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the GCC decorative laminates market size to grow at a CAGR of 4.23% reaching a value of USD 260.64 million by 2029. The increasing number of infrastructure development plans, including those for hotels, retail malls, conference centers, and airports, is a major driving factor for the GCC decorative laminates market. Additionally, as a result of the expansion of numerous modern housing and commercial infrastructure projects throughout the GCC countries, customers are switching from conventional veneers, paints, and coatings to decorative laminates, which is predicted to drive the market growth during the forecast period.
GCC Decorative Laminates Market – Overview
Decorative laminates are surfaces that have been specially decorated Kraft paper placed between them to create appealing surfaces. Decorative laminates are long-lasting because they include stain- and damage-resistant elements in their structure. The durability of ornamental laminates is further increased by additional qualities like resistance to stains and damage. The majority of applications for these decorative laminates include tabletops, wall paneling, furniture, flooring, and walls. Laminates are employed as ornamental surfaces to improve overall durability and visual appeal.
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GCC Decorative Laminates Market
Segmental Information
GCC Decorative Laminates Market – By Texture
Based on texture, the GCC decorative laminates market is segmented into matte/suede and glossy. Matte/suede laminates hold the largest share of the market. Scratches are less prominent and noticeable to the human eye because of the subdued look in matte laminates. As they disperse light-hitting surfaces, matte or flat finishes give rooms a rich appearance. Since there is no light reflection, the color also seems smoother because of greater color constancy, which is making matte decorative laminates a popular choice among consumers.
Impact of COVID-19 on GCC Decorative Laminates Market
The unprecedented COVID-19 pandemic considerably limited the growth of the GCC decorative laminates market. Global production procedures, trade, and supply networks for minerals and chemicals have all been significantly impacted by the COVID-19 pandemic. As a result of the COVID-19 pandemic, manufacturers of decorative high-pressure laminates had to shut down their plants or operate them at subpar production levels in order to prevent the coronavirus from spreading. In addition, a temporary suspension of construction activities owing to a labor shortage significantly reduced market demand for decorative laminates.
Competitive Landscape
Major players operating in the GCC decorative laminates market include ATI Decorative Laminates, Fletcher Building Limited, Aica Kogyo Co., Ltd, OMNOVA Solutions Inc., Greenlam Industries Limited, Wilsonart International, Inc., Formica Corporation, Swiss Krono Group, Nichiha Corporation, Kronospan, and GroupEGGER Group.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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