Proliferation in construction value added by major countries every year will propel the MDF decorative overlays demand in the study timeframe, Says this report.
Selbyville, Delaware, June 29, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the global MDF Decorative Overlays Market was estimated at $339 million in 2020 and is slated to exceed $489.5 million by 2027, registering a CAGR of 5.7% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
MDF decorative overlays will gain popularity in the construction of furniture, doors, kitchen cabinets, etc., owing to their superior characteristics. The products are easily available and offer a stylish look to the substrate. The growing focus of homeowners on interior decoration will drive the MDF decorative overlays market sales in the sector. Moreover, the building owners are also introducing a wide range of colors & textures for the construction of interior & exterior surfaces, which will further drive the opportunity for decorative overlays companies over the study timeframe.
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COVID-19 harshly impacted the consumption level of decorative films in the MDF boards in 2020. The market will gradually rise, which is subjected to increased buildings & construction volume, normalize social distancing norms, and create availability of labor.
The industry is still at a nascent stage owing to the prevalence of decorative paper overlays. Technological advancement and adoption of more durable materials in decorative lamination will pave the way for both new & existing players.
Other products, such as vinyl, PP, OPP, acrylic, etc., will capture a considerable portion of the MDF decorative overlays market in the study timeframe. The products are also known as 2D laminates decorative overlays, which are majorly used in profile wrapping or flat lamination of MDF boards. They provide better chemical & water resistance and also offer scratch and stain resistance. Softwood will occupy a significant growth in the global MDF decorative overlays market, which can be majorly attributed to its vast availability and lower cost.
The doors segment will experience a 5% CAGR from 2020 to 2027. The growing share of decorative surfaces in windows & door profiling will propel segment growth. Rapid gain in infrastructure activities and growing investments in remodeling activities of doors will augment the MDF decorative overlays market share over the coming years.
North America will expand at 6.4% CAGR through 2027. The growing number of residential and commercial buildings in the U.S. will promote the use of decorative overlays in North America. Besides, the U.S. is recording considerable investments in the construction industry from the public & private sector, which will sustain the industry development over the study timeframe.
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Asia Pacific will be a leading region in the global MDF decorative overlays market throughout the study timeframe. The competitive manufacturing landscape of China and availability of efficient labor & materials at a cheaper rate are propelling the concentration of construction activities in the APAC region.
The MDF decorative overlays industry is extremely competitive in nature owing to the limited possibility for product & price differentiation. The product manufacturers of decorative overlays considered are Hyundai L&C, Taghleef Industries, Hueck Folien, ISA International, Eurovinyl Plus, and Omnova Solutions.
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