HPL Exterior Boards Market to Surge USD 4.3 billion by 2030, at a rate of 4.80% from 2023 to 2030 – Report by Market Research Future (MRFR)

New York (US), May 26, 2023 (GLOBE NEWSWIRE) — HPL Exterior Boards Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “HPL Exterior Boards Market Information By Type, Application, and Region – Forecast till 2030″, The HPL exterior boards market to rise from USD 3.1 billion in 2022 to USD 4.3 billion by 2030, recording a growth rate of 4.80% between 2022 and 2030.

Market Scope

A strong building material, HPL exterior panels are excellent for balconies and façade cladding. High temperatures are used throughout manufacturing to evenly apply ornamental paper to both sides of superior pressure lamination machines. In the past few years, the growth rate of the global market for HPL exterior boards has significantly increased. The growing real estate and construction industries worldwide are the main factor driving the market’s growth. Rapid urbanization is also a significant factor driving the market’s expansion globally. However, the market’s expansion may be hampered by fluctuating raw material prices.

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Market Competitive Landscape:

The renowned firms in the HPL exterior boards industry are

• OMNOVA Solutions
• Panolam Industries
• Trespa International
• ASD Laminate
• Wilsonart International
• Sonae Arauco
• Abet Laminati
• Fletcher Building
• Among others.

Report Scope:

Report Attribute	Details
Market Size	USD 4.3 Billion
CAGR	4.80% (2022-2030)
Base Year	2021
Forecast Period	2022-2030
Historical Data	2018 & 2020
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Type, Application, and Region
Geographies Covered	North America, Europe, Asia Pacific, and Rest of the World
Key Market Drivers	Expansion of the real estate and construction industries Growing urbanization to boost HPL exterior boards market

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The majority of competitors are spending a lot of money on R&D to expand their product ranges, which should increase the HPL exterior board industry size. Aside from new product releases, contractual commitments, mergers and acquisitions, higher investments, market advancements, and collaboration with other organizations, market participants are also undertaking a variety of other strategic activities to expand their global presence. In order to grow and remain in a field that is becoming more and more competitive and has a growing market, competitors must provide affordable goods.

Making HPL exterior boards locally to cut operational costs is one of the main business methods manufacturers use to serve customers and grow the industry.

Market USP Covered:

Market Drivers:

When installed properly, exterior boards made of high-pressure laminate improve a building’s thermal performance. The system’s total U factor will decrease as a result. The rate at which heat flow from sources other than the sun passes through a window, door, or skylight is measured by the U-factor. The glass or glazing alone may be referred to as the U-factor for windows, skylights, and glass doors. Commercial buildings and SEZs stimulate economic growth and attract foreign investment wherever they are. These corporate structures and SEZs are part of a growth strategy to boost exports and diversify them while preserving protective barriers, creating jobs, and experimenting with novel policies and regulations. SEZs also make it possible to set up off-site infrastructure, strict environmental rules, and state oversight of businesses. The market ought to profit from this.

The real estate industry is expanding significantly as a result of both rapid urbanization and population growth. Developing nations are experiencing faster growth in the real estate sector as a result of their increased per capita income levels, which give investors more options. Real estate, according to the India Brand Equity Foundation (IBEF), is India’s second-largest sector in terms of employment opportunities, after agriculture. All around the nation, new developments are being constructed by many of India’s top real estate developers, including DLF Private Ltd, Prestige Estates Projects Ltd, IndiabullsReal Estate Ltd, Brigade Enterprises Ltd, and Oberoi Realty Ltd. Due to their extensive use in construction projects, HPL exterior boards are in greater demand. Thus, this element is responsible for the market’s strong CAGR.

Opportunities

Asia Pacific will present lucrative opportunities to international companies given the rising investments in the research and development process and the adoption of solutions in the region. The growing number of HPL Exterior Boards Market participants globally is expected to lead to further market expansion. Furthermore, it is projected that well-known suppliers will raise their spending on product development and company growth during the research period. Growing economies like China and India are offering profitable opportunities to many market players due to their large populations and recent improvements in a number of industries.

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Market Restraints:

Over the evaluation timeframe, the fluctuation in raw material prices could negatively affect the market growth for HPL exterior boards. 

COVID 19 Analysis

Most market sectors worldwide have been severely impacted by the global COVID-19 epidemic. The global health crisis not only has a significant effect on public health globally but also on the world economy. A number of nations implemented partial or total lockdowns to halt the disease’s spread. The suspension of various important operations, including cross-border transit, construction projects, etc., was caused by the travel restrictions and social segregation rules established across many regions of the world. The global HPL exterior board market encountered some unanticipated obstacles as a result of the global slowdown in construction activity. The global supply chain networks were disrupted as a result of the travel restrictions put in place, which had a significant financial impact on the HPL exterior board business.

The number of instances has decreased globally, and this has helped the economy recover. Additionally, a rise in demand is projected for HPL exterior boards during the course of the assessment.

Market Segmentation

By Type

The market has been divided into categories for 6-8 MM, 8-10 MM, 10-12 MM, 12-14 MM, and 14-16 MM HPL exterior boards. The 6-8 MM segment accounted for the majority of HPL exterior boards market data in 2021 and is anticipated to grow at the fastest rate from 2022 to 2030.

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By Application

Facades, Exterior Walls, Exterior Flooring & Roofs, Outdoor Furniture, and Balconies are the key applications of HPL exterior boards. In terms of market revenue for HPL external boards, the packaging category led in 2021 and is anticipated to rise at a quicker rate from 2022 to 2030. Exterior walls are constructed using the HPL exterior boards in this section. The exterior walls of homes, businesses, and hospitals include the façade, balcony, gate, and fascia for showrooms. Building surfaces can be coated with high-pressure laminate (HPL) cladding, which is aesthetically pleasing and durable. Exterior walls are sometimes referred to as compact laminate wall panels.

Regional Insights

Considering factors including the rapid expansion of industry, growing building industry, and rising demand for fuel-efficient technologies, the Asia Pacific HPL exterior boards market, which had a USD 1.3 billion market value in 2021, is predicted to grow at a 43.20% CAGR during the study period. The sector is also being driven by the population growth rate, which is increasing swiftly, and by how easy it is to access systems with good value. The demand for HPL exterior boards in the Asia-Pacific area is growing as a result of rapid urbanization in developing countries like India, China, and Japan, which pushes people to live more comfortably.

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