Malaysia High Pressure Laminate Market Size By Surface (Horizontal and Vertical), By Application (Furniture and Cabinets, Wall Panels), By End Users (Residential, Commercial, Industrial), And Forecast

Malaysia High Pressure Laminate Market Size And Forecast

Malaysia High Pressure Laminate Market size was valued at USD 84.09 Million in 2021 and is projected to reach USD 122.84 Million by 2030, growing at a CAGR of 4.25% from 2023 to 2030.

Some of the major factors that have led to the astonishing growth of the market are rapid population growth, rising disposable income, growing middle class population base, and increasing spending on home and building decoration and furnishings. The Malaysia High Pressure Laminate Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Malaysia High Pressure Laminate Market Definition

High-Pressure Laminate (HPL) is referred to as the laminate that is produced by saturating 6-8 layers of Kraft paper with phenolic resin. A low-print design card is placed above the Kraft card before pressing. The resulting sandwich is merged with heat and pressure (more than 1,000 psi at 280-320 ℉). Since the phenolic and melamine rescues are thermos end plastics, the hardening process transforms the plastic resin through a cross-coupled coupling process that converts paper peaks into a single rigid laminated leather. Thermo-setting creates strong and irreversible bonds that contribute to the sustainability of HPL. The high-pressure laminates are used in interior and exterior applications for residential, commercial, and industrial applications. The interior application areas include paneling, laboratories, countertops, benchtops, cabinets, offices, computer rooms, etc. The exterior application includes balcony rails, street furniture, doors, walls, ceilings, window sills, and others.

Malaysia High Pressure Laminate Market Overview

Some of the major factors that have led to the astonishing growth of the market are rapid population growth, rising disposable income, growing middle class population base, and increasing spending on home and building decoration and furnishings. Also, the refurbishment activities are also rising in the nation, thanks to growing awareness among the population regarding enhancing the interior décor. Over recent years, high-pressure laminate sheets have become every interior designer’s go-to product for designing state-of-art homes and offices at a reasonable cost while also ensuring quality, longevity, durability, and low maintenance. High-pressure laminate sheets have taken over the world of home decor with an endless array of choices in door laminates, kitchen laminates for cabinets, table tops, etc.

Moreover, one of the main reasons behind the growth of the markets in this country is the rapid population growth accompanying economic expansion, which ultimately leads to higher per capita income. So due to increased incomes, people would try and invest their money in better infrastructure facilities and materials, thereby fueling the market growth. Demand for high-pressure laminate should increase steadily during the study period due to the increasing use of ready-to-install flooring as well as furniture and cupboards. The adoption of the HPL laminates in the residential sector is growing. The growing construction of new homes, as an outcome of the Favorable initiatives by the Malaysian government is pushing the market growth uphill. For instance, as part of the 12 Malaysian Plan, the government of Malaysia announced its plans to build 500,000 affordable housing units by 2025. In addition, with a business-friendly environment, good quality products, and a high potential market, the Malaysian furniture industry is poised to exceed expectations and continue its exponential growth. The booming furniture industry is expected to drive Malaysia’s High-Pressure Laminate Market. However, factors such as high pressure laminate cannot be used in extreme environments and challenges faced during handling the product on the worksite are restraining the market.

Malaysia High Pressure Laminate MarketSegmentation Analysis

The Malaysia High Pressure Laminate Market is segmented on the basis of Surface, Application, and End Users.

Malaysia High Pressure Laminate Market, By Surface

• Horizontal• Vertical

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Based on Surface, the market is segmented into Horizontal and Vertical. Horizontal accounted for the largest market share in 2021, and is projected to grow at the highest CAGR during the forecast period. Vertical was the second-largest market in 2021. In 2021, the horizontal laminate segment accounted for over 50% market share and is projected to show significant growth in the forecast period. Horizontal laminates are alternatively termed standard grade laminates. These are the common laminate types used across residential, commercial, and industrial applications. These laminates find extensive application in the horizontal surface application such as countertops, islands, desks, vanities, tables, and work surfaces. In terms of thickness, the horizontal laminates are thicker compared to vertical ones.

Malaysia High Pressure Laminate Market, By Application

• Furniture and Cabinets• Wall Panels• Others

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By Application, High Pressure Laminate are used in Furniture and Cabinets, Wall Panels, and Others. Furniture and Cabinets accounted for the largest market share in 2021, and is projected to grow at the highest CAGR during the forecast period. Wall Panels was the second-largest market in 2021. In the interior design industry, when it comes to cabinets, wardrobes, doors, kitchen shutters, and other pieces of furniture, High-Pressure Laminates or HPLs are considered to be the most efficient, durable & cost-effective materials giving endless design choices to customers in terms of textures, colors, and finishes. Furniture made out of high-pressure laminates gives the appearance and benefits of real wood.

Malaysia High Pressure Laminate Market, By End Users

• Residential• Commercial• Industrial

By End-User, High Pressure Laminate is used in Residential, Commercial, and Industrial. Residential accounted for the largest market share in 2021, and is projected to grow at a CAGR during the forecast period. Commercial was the second-largest market in 2021. The residential segment emerged as the leading end-user segment in 2021 and is projected to show growth at a moderate pace in the years to come. The HPL are extensively used in homes across Malaysia in wall claddings, kitchen cabinets, countertops, shelves, partitions, and home furniture. The rise in customer spending on home décor and enhancing room aesthetics has pushed the demand for the HPL. Globalization of business resulting into higher penetration of the global furniture companies in Malaysia through direct or indirect channel is pushing the sales of cabinets and furniture with HPL.

Key Players

The major players in the market are; Formica, Aica Kogyo Co.Ltd, Polytec Laminates Sdn. Bhd, TOPMIX, Maica Laminates Sdn Bhd, Vitally Sdn Bhd, Dextra Laminates Sdn Bhd, Board Ply Trading Sdn Bhd, ICA Innovation Sdn Bhd and Gaminca Marketing Sdn Bhd., among others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

Key Developments

• Formica Malaysia will serve as the range’s official, sole distributor, showcasing the Italian-designed smart materials.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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