PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421684
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421684
The global high pressure laminate market size is expected to reach USD 12,240.00 million by 2032, according to a new study by Polaris Market Research. The report "High Pressure Laminate Market Share, Size, Trends, Industry Analysis Report, By Type (General Purpose Type, Postforming Type, Backer Type, Others); By Application; By Width Type; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
High-pressure laminate is a versatile decorative material that seamlessly blends wood textures, imaginative patterns, and vivid solid hues. It is often compared to the traditionally employed and highly favored plastic laminate.
High-pressure laminate is a versatile and durable surfacing material that is widely used in various applications such as countertops, cabinetry, furniture, wall panels, and flooring. The production process involves layering multiple sheets of paper or fabric that have been impregnated with phenolic resin.
High-pressure laminate is considered a premium, highly desirable decorative surface material. To produce, several layers of kraft paper are impregnated with phenolic resins, which are more commonly known as phenol-formaldehyde resins. These layers are then assembled with a decorative top surface that can feature printed designs or solid colors. Overall, HPL is a reliable and long-lasting option for those looking for a practical and stylish surfacing material.
The market for high-pressure laminate (HPL) is expected to grow significantly in the upcoming years, driven by the increasing emphasis on visually appealing hotels, restaurants, cafes, and other dining establishments. The changing consumer preferences, influenced by societal trends and social media, have resulted in a surge in demand for dining places that offer exceptional ambiance. This shift in consumer behavior is a crucial factor behind the rapid growth of the HPL market.
COVID-19 significantly impacted the HPL market for interior design, furniture, and construction due to supply chain disruptions, lockdowns, and reduced demand. However, the market has shown resilience, with increased emphasis on hygiene and the adoption of online sales. Facility owners can opt for HPL to furnish their establishments with versatile and visually appealing materials. HPL is durable and can help meet quality requirements. Demand for HPL is expected to surge with growing discretionary income and investments in food service.
Additionally, a study published in the National Library of Medicine in June 2021 highlighted the significant impact of coronary artery disease (CAD) on global health. CAD alone is responsible for approximately 610,000 deaths annually, accounting for an estimated one in four deaths and making it the foremost cause of mortality in the United States. With the incidence of CAD rising, there is a growing demand for effective coronary stent devices to address this pressing medical need. Consequently, this factor is projected to drive the demand for coronary stents throughout the forecast period.
Polaris Market Research has segmented the high pressure laminate market report based on type, application, width type and region: