Analysis of Potential Impact of COVID-19 on High Pressure Laminate (HPL) Market

High Pressure Laminate (HPL) Market: Overview

High pressure laminate (HPL) is a type of decorative laminate which is manufactured by impregnating kraft paper with the help of melamine resin, with the help of high pressure. These sheets are bonded on substrates such as particle board or medium density fiberboard. The most common pressure range used for manufacturing (HPL) is between 1,200 to 2,000 lbs per square inch. The resulting laminate is later covered with a layer of decorative paper. High pressure laminates can be employed in both horizontal as well as vertical applications.

High pressure laminates have various benefits such as durability, versatility, scratch resistant, and easy to maintain. Due to the durability and supreme qualities possessed by high pressure laminates, high pressure laminates are utilized in a wide range of applications such as residential, commercial, and industrial due to their superior qualities and durability.

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High Pressure Laminate (HPL) Market: Trends

Demand for high pressure laminates is expected to rise at a steady pace during the forecast period. Demand is estimated to increase primarily due to rise in the utilization of cabinets and ready-to-assemble furniture and floorings.

In the interior design industry, HPL is highly preferred due to its pattern, color, finish, and texture. The designer can optimize high pressure laminates as per the requirement, which helps to add aesthetic sense to the interiors. Upcoming social, economic and design trends across the globe are major factors that are driving the demand for HPL in the last few years.

Manufacturers of high pressure laminates can develop new products by innovation or by carrying required research and development activities. Manufacturing eco-friendly products is anticipated to present opportunities for manufacturers, which in turn is likely to provide growth opportunities for manufacturers to increase their consumer base in the market.

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High Pressure Laminate (HPL) Market: Region-wise Outlook

Asia Pacific was a prominent market for high pressure laminates in 2016. Among the countries in Asia Pacific, the demand was substantially high in developing countries such as China and India. These countries have been witnessing rapid increase in its population along with expansion of their overall economies, which has led to increase in disposable income. Increased spending on home interiors is fuelling the high pressure laminate market in Asia Pacific.

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There are several manufacturers of high pressure laminates in Europe and North America. In North America, the demand for high pressure laminates is primarily driven by the residential sector. Improved standards of living and rising usage of high pressure laminates for flooring purpose are anticipated to drive the market in North America.

In Europe, the demand for high pressure laminate is anticipated to be primarily from the commercial sector. High pressure laminates are being employed widely for flooring in commercial complexes, which is estimated be a major factor that is likely to propelling the consistent expansion of the high pressure laminate market in the region.

Demand for high pressure laminates in Middle East & Africa is projected be primarily due to the utilization of high pressure laminates in the construction industry. In recent years, there has been exceptional growth in the construction industry of UAE and Egypt which has driven the market of high pressure laminates in the region of Middle East & Africa.

High Pressure Laminate (HPL) Market: Key Players

Key players operating in the high pressure laminate market include Formica Group, Wilsonart Engineered Surfaces, Sonae Indústria, Polyrey, and Panel Processing.