Analysis of Potential Impact of COVID-19 on Decorative Laminates Market

Ecommerce, New Products Help Reinvent Product Demand During COVID-19 Pandemic

In order to help businesses navigate through the coronavirus crisis, companies in the decorative laminates market are maintaining robust supply chains and catering to mission-critical applications in healthcare, retail, and hospitality sectors. ATI Decorative Laminates has recently announced to enter the eCommerce business to revive the demand amid the ongoing COVID-19 pandemic for innovative and new products such as its Acrylic Divider Panels and Deco-Defender products.

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Antibacterial laminates are generating business opportunities for manufacturers in the decorative laminates market. However, many people are still hesitant to increase their spending on non-essential goods such as furniture, laminates, and home interior products. In such cases, eCommerce and social media platforms are helping to drive the revenue of the market by boosting the demand for antibacterial laminates and coatings.

decorative laminates market segmentation

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Laminate versus Veneer: Which is Better?

Laminates are usually more pocket-friendly and affordable than veneer. However, in terms of aesthetics, veneer materials are more elegant and graceful than laminates, since the latter is mass produced and lacks uniqueness. In terms of variety, companies in the decorative laminates market are capitalizing on this advantage, as laminates are available in textured, high-gloss, soft, and matte finishes. However, veneers are available in a limited number of shades involving paper backed, laid up, and reconstituted veneer materials.

Veneers require more maintenance as compared to laminates. Such advantages are translating into business opportunities for stakeholders in the decorative laminates market. They are increasing the availability of scratch-resistant and waterproof laminates.

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Residential Remodeling, Office Spaces Fuel Demand for Decorative Laminates

The decorative laminates market is projected to cross US$ 72.1 Bn by 2030. Manufacturers are broadening their revenue streams in commercial and office spaces. Advanced 1mm laminates are gaining popularity for offering a serene and soothing atmosphere in Indian office spaces. Customers are preferring zero finish laminates at high traffic places such as offices.

Laminates in countertops and cabinets are gaining prominence in the residential remodeling and design industry. Manufacturers in the decorative laminates market are increasing the availability of cost-efficient laminates so that customers can splurge on other essential products for residential remodeling applications. As such, manufacturers are gaining awareness about stone texture countertops, high gloss, and matte finish laminates that offer a modern look in residential applications.

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