Report Overview

The Saudi government’s increasing focus on diversifying the economy from oil & gas and rapid urban development is expected to boost the growth of Saudi Arabia Decorative Laminates Market during the forecast period between 2024 and 2030.

Saudi Arabia Decorative Laminates Market - Industry Trends & Forecast Report, 2030

Saudi Arabia Decorative Laminates Market size was estimated to be worth USD 56.79 million in 2023. During the forecast period between 2024 and 2030, Saudi Arabia Decorative Laminates Market size is projected to grow at a CAGR of 4.80%, reaching a value of USD 78.38 million by 2030. Major growth factors for Saudi Arabia Decorative Laminates Market include rapid urbanization and increasing construction activities. The Saudi government is significantly investing in infrastructure development projects, including hotels, airports, shopping centers, conference halls, and others. In addition, rising launches of eco-friendly decorative laminates made of recycled materials are anticipated to propel Saudi Arabia decorative laminates market growth during the forecast period.

Decorative Laminates – Overview

Decorative laminates are surfaces specially decorated with kraft paper placed between them to create appealing surfaces. Decorative laminates are long-lasting because they include stain- and damage-resistant elements in their structure. Additional qualities, like resistance to stains and damage, further increase the durability of ornamental laminates. The majority of applications for these decorative laminates include tabletops, wall paneling, furniture, flooring, and walls. Laminates are employed as ornamental surfaces to improve overall durability and visual appeal.

Saudi Arabia Decorative Laminates Market

Growth Drivers

Rising Renovation and Reconstruction Activities

The market is witnessing a substantial rise in the demand for aesthetically pleasing furniture, walls, floors, and other interior structures. As a result, decorative laminates are gaining significant popularity in Saudi Arabia as they provide a clean look to elevate the look of the environment. Decorative laminates are becoming more and more popular due to their affordability and ease of customization. Additional advantages include better stain and scratch resistance and less upkeep. As a result, laminating is becoming more popular in the home renovation and design sector for worktops and cabinets.

Challenges

Fluctuations in Raw Material Prices

Raw material costs can fluctuate significantly over time, which affects the production and pricing of decorative laminates and makes it difficult for manufacturers to maintain stable profit margins. Sudden price spikes in raw materials can also result in increased production costs, which raises the final product's cost to consumers. The unpredictability of raw material costs also limits the growth of Saudi Arabia decorative laminates market and impacts the overall competitiveness and profitability of industry players.

Impact of Escalating Geopolitical Tensions on Saudi Arabia Decorative Laminates Market

The escalating geopolitical tensions could adversely affect the growth of Saudi Arabia Decorative Laminates Market. the Kingdom imports its decorative laminates from other countries, including India, Singapore, and the United States. However, geopolitical tensions, such as the Red Sea attacks, disrupted the trade and supply chain by delaying shipments and increased the freight cost by 25–30%. The disruption in international trade is anticipated to directly influence the import of decorative laminates in Saudi Arabia as well, limiting the market growth.

Saudi Arabia Decorative Laminates Market

Segmental Coverage

Saudi Arabia Decorative Laminates Market – By Product Type

Based on product type, Saudi Arabia Decorative Laminates Market is segmented into high-pressure laminates and low-pressure laminates. Low-pressure laminates hold a larger share in Saudi Arabia Decorative Laminates Market. The growth of the segment is mainly attributed to the affordability and easy accessibility of these products. Low-pressure laminates are fire-resistant and possess antibacterial properties, making them easy to maintain. Therefore, they are extensively used in spaces that require greater hygiene levels, such as food preparation areas and health and medical facilities.

Saudi Arabia Decorative Laminates Market – By Texture

On the basis of texture, Saudi Arabia Decorative Laminates Market is segmented into matte/suede and glossy. The matte/suede texture holds a higher market share. The matte texture provides a sleek and professional look to the surface décor. It is also more effective in preventing fingerprints, smudges, and other marks than a glossy texture, which makes it a suitable choice for decor that is handled frequently. Furthermore, matte texture is easier to clean and maintain, which makes it popular in both residential and commercial applications.

Saudi Arabia Decorative Laminates Market – By Pricing

By pricing, Saudi Arabia Decorative Laminates Market is divided into mass and premium segment. The mass pricing segment holds a larger share in Saudi Arabia Decorative Laminates Market, owing to its affordability among general consumers. These laminates are cost-effective and are available in a wide range of designs and colors to suit the various requirements of different consumers and industries. The increasing renovation activities in residential complexes and rising demand for budget-friendly solutions are propelling the demand for mass-priced decorative laminates.

Saudi Arabia Decorative Laminates Market – By Application

Based on application, Saudi Arabia Decorative Laminates Market is segmented into furniture & cabinets, flooring, wall panels, and others. The furniture & cabinet segment accounts for the highest market share. The increasing disposable income of consumers and the rising focus on home renovation and decoration are fueling the demand for decorative laminates. These laminates not only offer aesthetic appeal to the furniture but are also highly durable, resistant to scratches and strains, and offer a wide range of design options, which contributes to their market growth.

Saudi Arabia Decorative Laminates Market – By End Use

Based on end use, Saudi Arabia Decorative Laminates Market is segmented into residential and commercial. The commercial segment dominates Saudi Arabia Decorative Laminates Market. The big construction projects launched in the Kingdom, such as Qiddiya Entertainment City, Riyadh Metro, Neom, The Red Sea Project, and others, are propelling the commercial use of decorative laminates. In addition, the rising construction of other commercial facilities, including offices, factories, hotels, and restaurants, for infrastructural development is anticipated to drive Saudi Arabia decorative laminates market during the forecast period.

Competitive Landscape

Major companies in Saudi Arabia Decorative Laminates Market include Jaya Tiasa Holdings Bhd, Weyerhaeuser Company Limited, Koch Industries, Inc., West Fraser Timber Co. Ltd., Louisiana-Pacific Corporation, Kronoplus Limited, Boise Cascade Company, and PotlatchDeltic Corporation. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Product Type

• High Pressure Laminates

• Low Pressure Laminates

By Texture

• Matte/Suede

• Glossy

By Pricing

• Mass

• Premium

By Application

• Furniture & Cabinets

• Flooring

• Wall Panels

• Others

By End Use

• Residential

• Commercial