The prices of decorative laminates are witnessing a reduction. Now the first letter has been issued by India’s largest laminate manufacturers, who have slashed the prices of laminates with the softening prices of different raw materials in the last few months. Besides, many other players have slashed the price, but there is no news from leading brands in this regard.
The Ply Reporter accessed the letter issued by the leading laminate manufacturers in terms of the announcement of the price reduction in different laminate categories. The letter mentions that "as promised, we will be the first company to come forward to reduce the prices when prices begin to soften. We are announcing the price reduction." It indicates that the prices in the laminate category may go softer in coming days.
As per report, the prices of Melamine, Phenol, Kraft paper, Methanol etc have been softening in July-August month, which is helping laminate producers to pass the benefit in market in terms of direct price reduction, discounts, schemes etc.
The experts say that sea freight has dropped everywhere, except the US route, so the industry can expect price stabilization further. The market report indicates that many of the companies have tried to pass the benefit to the retailers or dealers, attracting them with schemes. The impact of lower-cost prices is certainly going to be visible on laminates, doors, and decorative panels in the coming months.