The market for paper-based laminates is predicted to grow from US$ 336.9 Million in 2022 to US$ 559.4 Million by 2032. Over the projection period, it is expected that sales of laminates made of paper will increase at a CAGR of 5.2%. The factors attributed to this growth are:
- Due to their sustainability, functionality, and suitability for surface alternatives, paper-based laminates are becoming more and more popular.
- Paper based laminates are being used more frequently for light-duty and low-wear applications, people are extremely motivated to accept this product and increase sales of paper-based laminates.
- The advantages of paper-based laminates include outstanding mechanical strength, minimal moisture absorption, high insulation resistance, ease of machining to a high degree of polish, and great electrical insulating properties.
Paper-based laminates are a type of packaging material made by bonding paper layers together with adhesives and other materials. They are commonly used in the food and beverage industry to package various products, including snacks, coffee, and pet food.
The paper-based laminates market has experienced significant growth in recent years due to the increasing demand for sustainable packaging solutions and the rise of e-commerce. Consumers are becoming more aware of the environmental impact of packaging waste and are looking for alternatives that are biodegradable, recyclable, and made from renewable resources.
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Key Players Opting for Collaboration and Innovations to Capture Greater Market Share
The major market participants are always working to innovate and work together to provide high-quality laminates made of paper. They are encouraging the industry to embrace more of these surface elements by employing paper-based laminates in conventional, cost-effective methods, which is boosting the market’s expansion.
Greenlam Industries Ltd., one of the top three laminate producers in the world and the biggest in Asia, introduced innovative laminates in November 2020 that are effective against SARS-CoV-2 with 99% efficacy within 30 minutes of contact with the laminate surface and destroy the virus totally in 45 minutes.
The following companies have been identified as key market participants in the worldwide paper-based laminates market:
- Kevin Polymers Pvt. Ltd
- Attwater & Sons Ltd.
- Custom Composites Ltd
- Eagle Insulation
- Impreglam Electronics Limited
- Bakelite Hylam Limited
- Greycon
- Guangzhou Remica Building Materials Co., Ltd
- Kblaminates
- Sigma Laminates.
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Global Paper Based Laminates Market: Market Dynamics
The factors boosting the growth of global paper based laminates market is due to growing building & construction industry, since many years paper has become an increasing preference for surface upgrading of wood-based materials. For higher voltage and when greater electrical stability is needed in varying humidity higher grades of paper based laminates are chosen.
The factor decreasing the demand for global paper based laminates is due to property of paper based laminates, strength of paper based is not as high as other materials and hence are not preferred in application where high toughness, high bearing property and high stress carrying capability is required.
Key Market Dynamics for Paper-Based Laminates
- One of the factors influencing the expansion of paper-based laminates in the global market is the expanding building and construction industry.
- FMI predicts that over the forecast period, people will prefer paper and wood-based items more.
- Paper-based laminates are frequently used in the construction industry to give surfaces a lovely and high-quality finish.
- Paper laminates also offer excellent insulating properties. Due to their low moisture absorption, they last much longer before decomposing.
- The market for paper-based laminates is highly competitive because of their superior insulating resistance, ease of machining, superior polish, and improved mechanical strength.
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Key Segments in the Paper Based Laminates Market
By Type:
- B5
- B4PQ
- B4
- B1
By Application:
- Commercial industry
- Automotive industry
- Manufacturing industry
- Infrastructure
- Hospitality industry
- Retail
- Healthcare industry
By Base Finish:
- Satin
- Gloss
- Matte
By Basis of Paper Type:
- Decor paper
- Overlay
- Laminating Kraft
- Absorbent Kraft
By Basis of Pressure:
- Low-pressure laminates
- High-pressure laminates
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