Global Sales of Paper-Based Laminate Estimated to Reach USD 876.2 Million by 2034 | Future Market Insights Inc.

Will the Revival of the Construction Sector Benefit the Paper-based Laminate Market? Trends and Opportunities Brought to you by FMI.

/EIN News/ -- NEWARK, Del, July 03, 2024 (GLOBE NEWSWIRE) -- The global paper-based laminate market, valued at USD 603.4 million in 2024, is expected to reach USD 876.2 million by 2034, with a CAGR of 3.8% from 2024 to 2034.

Emerging economies like India, China, Brazil, and the United Kingdom are generating significant demand for paper-based laminates in construction, retail, healthcare, furniture manufacturing, interior design, marine and recreational vehicle industries, and office and educational environments.

The demand for visually appealing and durable interiors in these sectors is also accelerating due to the rise in retail and commercial spaces. Healthcare facilities are also increasingly utilizing paper-based laminates due to their hygienic properties and aesthetic versatility.

The adoption of these laminates is expected to reach unprecedented levels in the coming years, as governments invest billions in initiatives to include their vast population. The market is also expanding in marine and recreational vehicle industries, office and educational environments, and marine and recreational vehicle interiors.

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Despite advancements in technology, paper-based laminates still face durability and performance limitations compared to other materials like plastic, metal, or solid wood. They also face concerns about resistance to extreme conditions and raw material unavailability, hindering their adoption in some industries.

Trends in Paper Based Laminates Market:

Technology improvements and the expansion of creative innovations are driving the demand for paper based laminates. Along with technical breakthroughs, production procedures have been upgraded to enable new future patterns and designs, including metal surfaces, gloss, and three-dimensional surfaces. The development of next-generation paper based laminates with tiny aluminum oxide particles functions as a barrier or protective layer that enables color/gloss preservation and scratch resistance due to technological advancements.

Furthermore, manufacturers of high-pressure laminates can generate newer and more improved goods by allowing advanced Research and Development projects to stimulate innovation. With the use of cutting-edge technologies, the designer's concept can now be transferred digitally and directly to the company facilities, which can further produce various digital sheets of any product type.

Production of eco-friendly paper based laminates is anticipated to present manufacturers with lucrative growth opportunities to enhance the existing customer base and augment market value share. Such laminates may be used right away on surfaces like doors, walls, multifunctional furniture, stands, and show booths

“Companies in the paper-based laminates market should focus on innovation and sustainability. Investing in advanced manufacturing technologies and developing eco-friendly products can attract environmentally conscious consumers. Strategic partnerships and collaborations can also drive market penetration and innovation”, says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).

Key Takeaways from the Market Study:

• Bleached paper-based laminates dominate the global market with a share of 55.6% in 2024.
• Based on the packaging format, the pouches segment leads the paper-based laminate market with a share of 34.3% in 2024.
• The paper-based laminate market in India is anticipated to grow at a CAGR of 6.2% through 2034.
• The paper-based laminate market in China is estimated to rise at a 5.6% CAGR through 2034.
• The paper-based laminate market in Thailand has the potential to increase at 5.1% CAGR through 2034.
• The United States paper-based laminate market is predicted to rise by 2.4% CAGR through 2034.
• The paper-based laminate market in the United Kingdom is very likely to grow at a CAGR of 2.9% through 2034.
  

Competitive Landscape:

Many businesses compete in the global paper-based laminate market, all trying to gain a competitive advantage and expand their market share. Continuous innovation and advancements in product quality, sustainability, and variety of designs frequently fuel competitiveness. To increase their market shares, these businesses are also making investments in cutting-edge production technology, creating environmentally friendly laminates, and growing their distribution networks.

To set themselves apart, small businesses, are concentrating on specialized markets and offering highly personalized solutions.

Key Players in the Paper Based Laminate Industry:

• Formica Group
• Wilsonart International
• Greenlam Industries
• Abet Laminati
• Arpa Industriale
• FunderMax
• Royal Touche
• Stylam Industries
• Merino Laminates
• Panolam Industries
• EGGER Group
• Kronospan
• Pfleiderer
• Swiss Krono Group
• OMNOVA Solutions Inc.
• ASD Laminat
• Wonder Laminates
• Century Plyboards (India) Ltd.
• AICA Kogyo Co., Ltd.
• Patrick Industries

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Recent Developments:

• UFlex opened an aseptic packaging recycling facility in Gwalior in October 2023. The plant recovered materials by turning paper into recycled goods and reusing metal and plastic through enzyme-based delamination technology.
• UPM Specialty Papers stated in April 2023 that it will exhibit its oneBARRIER FibreCycle, a paper-based, recyclable substitute for multi-laminate plastic, at Interpack in May. Since its premiere in the summer of 2022, this creative packaging solution for goods with a long shelf life has drawn a lot of attention.
• Bobst and BASF presented innovative paper-based laminates for the house that are biodegradable in June 2023 at Interpack. The invention included water-based printing methods and adhesives with the goal of substituting cleaner, more environmentally friendly food packaging solutions. Bottom of Form
  

Regional Analysis of Paper Based Laminates Market:

The USA to Capture a Large Chunk of Paper-Based Laminates Market

The North American paper-based laminates market is expected to grow rapidly in terms of market share. At the moment, the USA is responsible for 16% of the paper-based laminate market. Due to the growth of the building and construction industries in North American areas, the market for paper-based laminates is rising. Additionally, as disposable income rises and their standard of living improves, they demand beautifully furnished surfaces for their homes, offices, and other spaces. This demand is strengthening the sales of paper based laminates and boosting consumer spending.

Germany to Witness Increasing Adoption of Paper Based Laminates in the Europe Market

During the anticipated period, a positive growth rate in paper based laminates market is anticipated for the European Region. At the moment, Germany is responsible for 13% of the paper based laminates market. The market growth is being propelled by increasing acceptance of paper based laminates in more home appliances, ornamental, and surfacing due to the rising usage of paper based laminates in domestic applications.

Key Segments of the Paper Based Laminate Industry:

By Grade:

The grades category in the paper-based laminates industry includes bleached and unbleached laminates.

By Packaging Format:

The packaging formats encompass pouches, bags, sachets, blisters, and stick packs.

By End User:

In terms of end-use, the market caters to food and beverages, healthcare and pharmaceuticals, cosmetics and personal care, homecare and hygiene, and other industrial applications.

By Region:

Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.

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About the Packaging Division at Future Market Insights.

The packaging team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

Authored by:

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics. 

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About Future Market Insights Inc. (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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