A new research report by Transparency Market Research (TMR) provides an all-inclusive study of the global market for high pressure laminate (HPL). The research report, titled “High Pressure Laminate (HPL) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” assesses the prominent trends, growth drivers, barriers, market potentials, challenges, and opportunities to find out the future prospects and performance of this market.
As per the research report, the increasing popularity of cabinets and ready-to-assemble floorings and furniture, resulting in their augmented uptake, is likely to fuel the demand for high pressure laminates considerably in the near future, reflecting greatly on the growth of the global market for high pressure laminates, reports the market study.
The global market for high pressure laminate can majorly be examined on the basis of the type of the laminate, application, and the geographical presence of the market. Based on the type of the laminate, the market can be bifurcated into leather horizontal laminates and vertical laminates. In terms of the application, the market can be classified into the commercial, residential, and the industrial sectors. Currently, the industrial sector is the main consumer of these laminates and the scenario is likely to remain so in the near future, notes the research study.
Based on the geography, the market can be divided into Eastern Europe, the Middle East and Africa (MEA), North America, Western Europe, Asia Pacific (APAC), and Latin America. The U.S. and Canada are leading the North America market for the last few years and are expected to continue with the same pace in the near future. China, ASEAN, India, Japan, Australia, and New Zealand have surfaced as the key domestic markets for high pressure laminates in Asia Pacific and the Middle East and Africa market is led by GCC, North Africa, and Southern Africa. In Eastern Europe market, Germany, the U.K., Spain, France, Italy, Belgium, Luxembourg, Netherlands, and Nordic countries have emerged as the leading contributors, while in Western Europe, the dominance is with Poland and Russia. Mexico, Peru, Brazil, and Chile are the main domestic markets for high pressure laminates in Latin America, states the market report.
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A competitive analysis of the worldwide market for high pressure laminate has also been provided in this research report. Researchers have conducted a thorough study of the prominent vendors of high pressure laminates across the world, such as Formica Group, Polyrey, Sonae Indústria, Wilsonart Engineered Surfaces, and Panel Processing. These participants are expected to focus more on strategic partnerships to strengthen their positions in this market in the years to come, reports the research study.