The weak demand and softening prices of phenol and methanol have compelled Decorative Laminates producers to reduce prices with immediate affect. Market report indicated that the
producers have been struggling for order since December, and weak demand has forced them to reduce prices because they understand that this step will help to improve the demand.
With pressure of weak demand, a group of decorative laminate producers called an urgent meeting in Delhi, and decided to reduce the prices up to Rs.25 per sheets. This decision has reached to rest of India market, and producers from other states also reported to reduce prices with immediate affect. A producer from Gujarat says that there is oversupply scenario in
decorative laminates segment thus they have to follow the situation according to market scenario. Contrary to weak market, some big brands are reported to remain with the same prices.
It is noted that Decorative Laminate prices were increased in October 2018, collectively by producers citing the high prices of input cost, which was accepted in market. After that the prices of phenol and methanol were reached to unexpected level, and producers were forced to halt production for 10 days but the prices of these chemicals had been started coming back to normal. Now, producers felt that they have to pass the softening prices of chemicals to market, which might help them to improve demand because they are struggling due to weak demand.