Industry Background:
Decorative panel is single piece of material , typically flat and cut into a rectangular shape, that serves as the visible and exposed covering for a wall, ships, others. Decorative panel are functional as well as decorative, providing insulation and soundproofing, joined with uniformity of appearance, along with some measure of durability or ease of replace ability. It is available online as well as offline.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Nord Compensati Spa (Italy), World Panel Products Inc. (United States), Sarl Directeck (France), Van Styn BV (Netherlands0), Kuiper Dutch Marine Panels (Netherlands), King Plastic Corporation (United States), Compensati Toro SpA. (Italy), Daniel R. Georgus GmbH & Co. KG (Germany), Drumarkon International B.V. (Netherlands) and Flexiteek International AB (Sweden) |
This growth is primarily driven by Growing Adoption of Decorative Panels in Housing Market Recovery and New Construction Projects and Increasing Instances of New construction Sites across the Developing Countries.
Globally, a noticeable market trend is evident Vigorous Developments in Ready to Assemble Furniture
The Leisure Products sector in the Europe region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Nord Compensati Spa (Italy), World Panel Products Inc. (United States), Sarl Directeck (France), Van Styn BV (Netherlands0), Kuiper Dutch Marine Panels (Netherlands), King Plastic Corporation (United States), Compensati Toro SpA. (Italy), Daniel R. Georgus GmbH & Co. KG (Germany), Drumarkon International B.V. (Netherlands) and Flexiteek International AB (Sweden), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Key Developments in the Market:
In October 2023, 3A Composites GmbH, a leading manufacturer of composite materials, announced the acquisition of Vink Holding B.V., a Dutch company specializing in acrylic decorative panels. This acquisition strengthens 3A Composites' position in the decorative panels market and expands its product portfolio.
In October 2023, Fundermax, a European manufacturer of decorative panels, launched its new "NatureTouch" collection. This collection features textured surfaces that mimic the look and feel of natural materials such as wood and stone.
Regulatory Insights:
The American National Standard for Medium Density Fiberboard is the North American industry voluntary standard that classifies MDF by physical and mechanical properties and identifies product grades. Specifications identified in the Standard include physical and mechanical properties, dimensional tolerances and formaldehyde emission limits. In addition to this, Regulations by the California Air Resources Board (CARB) and the U.S. Environmental Protection Agency (EPA) establish formaldehyde emissions limits of 0.11 ppm for MDF. Panel emissions are measured using an ASTM test procedure conducted by an accredited laboratory, and the results are reviewed and certified by a third-party certification body.
Influencing Trend:
Vigorous Developments in Ready to Assemble Furniture and Rising Per Capita Expenditure on Flooring and Furniture
Market Growth Drivers:
Growing Adoption of Decorative Panels in Housing Market Recovery and New Construction Projects and Increasing Instances of New construction Sites across the Developing Countries
Challenges:
Skilled Workforce Required for Assembling the Decorative Panels and Upsurging Raw Material Prices for Leisure Products across the Globe
Restraints:
Comparatively Expensive than the Conventional Decorative Options and Maximum Distribution Overheads required in Delicate Transportation of Decorative Problems
Opportunities:
Growing Awareness about the Architectural Sceneries and Decorative Construction Equipment and Growing Demand from Ship Construction Industry
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Decorative Panels Market
- Analysis about New Entrants in Decorative Panels Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Decorative Panels Study Sheds Light on
The Decorative Panels Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Decorative Panels industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Decorative Panels industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.