Thermally Fused Laminates (TFL) Market Size, Share, Growth, And Industry Analysis, By Type (Woodgrain, Marble, Solid Color, Others), By Application (Furniture, Interior Decoration, Store Fixtures, Others), Regional Insights, and Forecast From 2023 To 2030

Updated On: 20 November 2023

Thermally Fused Laminates (TFL) Market Report Overview

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The global thermally fused laminates (TFL) market size was US$ 12490 million in 2021. As per research the market is expected to generate the substantial revenue by 2028, exhibiting a high CAGR during the forecast period.

The TFL is a decorative paper that has been soaked with melamine and is thermally fused to the substrate, such as MDF or particle board. For TFL, particleboard and MDF are the best substrates due of their consistency, homogeneous strength, and lack of flaws. The TFL is a decorative paper that has been soaked with melamine and is thermally fused to the substrate, such as MDF or particle board. Because of their consistency, constant strength, and lack of flaws, particleboard and MDF make excellent TFL substrates. The manufacturing of laminates and wood adhesives accounts for more than 70% of the world's melamine use. Products including furniture, flooring, kitchen cabinets and countertops, and walls all use laminates. Many wood products, such as medium-density fiberboard (MDF), particleboard, and plywood, contain wood adhesives based on melamine. The finished wood board's durability and resistance to moisture are improved by melamine-modified wood adhesives. The majority of medium-density fiberboards (MDF) are also converted into TFL at the same time. Only a small portion of MDF is sold in its raw form. The biggest predictor of future demand for TFL will continue to be the overall economic performance. The state of the economy as a whole has a significant impact on demand in the majority of downstream markets. Because of this, demand often mimics the trends of the major global economies.

COVID-19 Impact: COVID-19 Outbreak Had a Negative Influence On the Market Growth

The majority of significant markets throughout the world have been impacted by the COVID-19 epidemic, and the market for Thermally Fused Laminates (TFL) is no exception. The Asia-Pacific region and other nations have the greatest markets for Thermally Fused Laminates (TFL), however due of the coronavirus pandemic and the lockdown situations in China, India, and Japan, both supply and demand for these materials have declined.

Latest Trends

"Wide Application in Industries Leading Market Expansion"

Great-pressure laminates provide great durability, scratch resistance, and cost effectiveness while being resistant to heat, oil, and liquid stains. They provide furniture for interior design, including couches, beds, and tables. Additionally, they are utilised in RTA furniture and modular cabinets as well as wall shelves in bathrooms, kitchens, and studies. These laminates are furthermore employed for wall highlighting. High-pressure laminates with texture are also used to cover the ceilings. Positive market growth is predicted to be influenced by customer preferences for enhanced visual appeal and decorative home furnishings as well as their expanding spending power.

Thermally Fused Laminates (TFL) Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into wood grain, marble, solid color, others. wood grain is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into furniture, interior decoration, store fixtures, others. Furniture will be the dominating segment.

Driving Factors

"Increasing Use of Ornamental High-Pressure Laminates in The Building Sector to Stimulate Market Expansion"

Products called thermal laminates are utilized as wall paneling or as furniture surface materials. There are two varieties of laminates: low-pressure and high-pressure laminates, with the latter being one of the laminate market's most resilient ornamental surface materials. These laminates provide cutting-edge functional and mechanical qualities including durability, antibacterial, and anti-fingerprint. They may be altered to meet the needs and have strong resistance to corrosive substances, abrasion, fire, moisture, shock, and impact. High-pressure laminates are used extensively in the construction sector because of their exceptional qualities. Because of their excellent durability and aesthetic appeal, decorative high-pressure laminates are increasingly needed in the production of ready-to-assemble (RTA) furniture, toilet cubicle systems, laboratory tables, and kitchen tops. They may replace expensive floorings like marble, granite, and slate and are a cheap alternative to natural materials. However, due to high manufacturing costs, they are generally more expensive than low-pressure laminates. In industrialized and emerging nations alike, residential and commercial building development has surged as a result of population growth and fast urbanization. According to the need, these laminates also provide an infinite selection of colors, finishing surfaces, thickness ranges, and dimensions.

"Rising Applications in Service Industries Fuel the Market Growth"

The rise of service industries like IT, BFSI, and telecom is fueling the need for commercial space in both developed and emerging nations, which is driving the construction industry's expansion and the decorative laminates market. Therefore, the wide range of high-pressure laminate's properties and the expanding construction sector with rising purchasing power are expected to increase demand for decorative laminates and propel the expansion of the global market during the forecast period. The worldwide construction industry will have solid expansion over the projection period, as shown below, increasing demand for different decorative laminates in the residential and commercial sectors and boosting market growth.

Comparable to hardwood flooring and other alternatives, decorative laminates are simple to install and have superior mechanical and functional qualities. They are also a great solution for flat-top surfaces like counters, wall paneling, and tables and benches in classrooms. These laminates are extremely robust and tear-resistant. They can endure stress and impact since they are shock and abrasion resistant, making them ideal for installation in high traffic locations. They don't need a specialist to install them; laminate glue or resin may be used instead, which means lower installation expenses. As a result, the expansion of the decorative laminates market revenue is being driven by the rising demand for decorative laminates in building.

Restraining Factors

"Growing Competitors Laminates Sector May Hamper the Market Growth"

In order to grow and thrive in a market that is becoming more competitive and growing, competitors in the laminates sector must provide products that are affordable.

Thermally Fused Laminates (TFL) Market Regional Insights

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"North America Is Anticipated to Expand More Rapidly During the Forecast Period"

Due to the use of laminates in construction panels, bathroom fixtures, and other products, the North American laminates market holds the second-largest market share. The decorative laminates market in Germany had the biggest market share and the decorative laminates market in the UK had the quickest rate of growth on the continent of Europe.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Kronospan M&P Kaindl
• TEEHOME (India)
• Swiss Krono Group (Switzerland)
• Roseburg (U.S.)
• Arauco (Chile)
• Sonae Industria (Portugal)
• DareGlobal Wood (Jiangsu)
• Egger (Austria)
• Panel Processing (U.S.)
• Fuxiang (China)
• Shengguo Tree
• MJB Wood Group (U.S.)
• AICA Kogyo (Japan)
• Panolam Industries International (U.S.)
• Uniboard (India)
• Wilsonart (U.S.)
• Dongwha Malaysia (Malaysia)
• Funder America (U.S.)
• Specialty Laminates (U.S.)
• Purbanchal Laminates (India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.