GCC Decorative Laminates Market

GCC Decorative Laminates Market Overview:

The GCC decorative laminates market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. Decorative laminates refer to furnishing products that offer better aesthetic appeal to the external surfaces of walls, furniture, and other static and movable building components, including doors, floors and windows. They are produced with the help of resins and good quality kraft paper, pressed at a high pressure and heat, making them durable and resistant to moisture, stains, scratches, and heat. The designs on these decorative laminates do not fade when exposed to sunlight as they contain a wear layer that shields the photographic layer underneath. In recent years, decorative laminates have gained momentum in the GCC region as they can be installed over any substrate, such as concrete, wood, plywood and OSB, along with already installed vinyl products.

One of the primary factors driving the market is the exponential growth in infrastructural projects, such as hotels, shopping malls, airports, and convention centers. Additionally, the growing development of numerous modern commercial and housing infrastructure projects across the GCC countries has led to a shift from traditional paints, veneers, and coatings toward decorative laminates. Other than this, decorative laminates are economical alternatives that can be easily inserted as a floating layer without connecting them to the subfloor or wall by glues, nails, or staples, thereby creating a positive market outlook. Besides this, the rising inclination toward aesthetically appealing home interiors and corporate spaces, thus results in an augmenting demand for ready-to-assemble (RTA) flooring, cabinets, and furniture. Furthermore, the exponential growth in the furniture industry is positively influencing the market growth. Apart from this, with the sudden outbreak of coronavirus disease (COVID-19), there has been an emerging work-from-home (WFH) culture, which is fuelling the demand for furniture and cabinets by homeowners. This has accelerated the product adoption rate across the GCC region. Moreover, key players are extensively investing in research and development (R&D) activities to introduce various product innovations to expand their consumer base and gain a competitive edge in the market. Other growth-inducing factors, including antibacterial laminates, rapid urbanization, rising population, and the growing prevalence of digital laminates, are propelling the market growth.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC decorative laminates market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC decorative laminates market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC decorative laminates market in detail for latest trends, outlook and opportunities.

The report analyses the competitive structure of the GCC decorative laminates market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC decorative laminates market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC decorative laminates market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC decorative laminates market industry. Furthermore, the value chain analysis of the GCC decorative laminates market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

GCC Decorative Laminates Market Segment Insights:

The GCC decorative laminates market has been analysed as followed:

By Product Type:

• High Pressure Laminates
• Low Pressure Laminates

By Application:

• Furniture and Cabinets
• Flooring
• Wall Panels
• Others

By End Use:

• Non-Residential
• Residential
• Transportation

By Texture:

• Matte/Suede
• Glossy

By Pricing:

• Premium
• Mass

By Sector:

• Organised
• Unorganised

By Country:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain

Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.

Competative Landscape: 

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Highlights of the GCC Decorative Laminates Market Report:

• Historical and current scenario
• Trends and developments
• Impact of COVID-19
• Market forecast
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis

Report Customisation:

The GCC decorative laminates market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs