2018 is set to witness a rise in demand of decorative laminates across the country in residential interiors and commercial space segment. The affordability of laminate has increased among the tier three cities and in semi urban areas due to availability of options hence people have began using laminates more than ever. With new beginning and hopes on a better business year, 2018 is certainly going to demand more laminates than ever.
In 2017 the HPL segment witnessed a volume growth of approximately 13.5 % compared to past year numbers which was largely contributed by 0.8 and below thickness category. Due to rise in number of manufacturers in last three years, the variety of folder options, material availability and price competitions, HPL is no more a premium decorative item as it used to be a decade ago. Also the awareness and benefits are tried and tested by huge Indian mass population hence the market is able to absorb the capacity so far.
Year of 2018 is expected to see throat cutting competition and high marketing efforts by the laminate producers which will eventually help the laminate market to grow. 2018 second half may witness consolidation in this segment as few HPL players may find the going get tougher hence exit the segment by selling off or closing down their plants. On the whole year 2018 will be another vibrant year when HPL market will expand, 0.8 will grow deep in smaller cities and developing rural belts hence helping the YOY growth to retain in double digits.