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:
Paper-based laminates, as the name suggests, are laminates made by bonding layers of paper together using resins. These laminates possess excellent mechanical strength, durability, and resistance to moisture and chemicals. They find extensive usage in sectors like furniture, construction, packaging, and interior design. The paper-based laminates market has witnessed significant growth in recent years, driven by the increasing demand for sustainable and eco-friendly materials.
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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.
Trends and Innovations in the Paper Based Laminates Market
The paper-based laminates market is constantly evolving, driven by advancements in technology and changing consumer preferences. Here are some noteworthy trends and innovations shaping the industry:
- Sustainable Manufacturing Practices: With a growing emphasis on environmental conservation, manufacturers are adopting sustainable practices in the production of paper-based laminates. This includes using recycled paper, eco-friendly resins, and reducing carbon emissions throughout the manufacturing process.
- Digital Printing Technologies: Digital printing has revolutionized the design possibilities in paper-based laminates. Manufacturers can now create intricate patterns, realistic textures, and custom designs with exceptional precision and detail, opening up new avenues for customization.
- Versatile Surface Finishes: Innovative surface finishes such as matte, gloss, and textured laminates are gaining popularity in the market. These finishes not only enhance the visual appeal but also offer functional benefits like fingerprint resistance and easy cleaning.
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.
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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.
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.
Challenges Facing the Paper Based Laminates Market
Despite the many advantages of paper based laminates, there are also several challenges facing the market. Some of these challenges include:
- Cost- Paper based laminates can be more expensive to produce than traditional plastic packaging materials, which can make them less attractive to some companies.
- Performance- While paper based laminates have improved in terms of performance, they still may not provide the same level of barrier protection as some plastic materials. This can limit their use in certain applications.
- Supply Chain Issues- The supply chain for paper based laminates can be complex and fragmented, which can make it difficult for companies to secure a consistent supply of materials.
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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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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