Home Advanced Materials HPL Exterior Boards Market Size, Expands At a Rate of 3.78%

HPL Exterior Boards Market

HPL Exterior Boards Market Size, Share & Trends Analysis Report By Type (6-8 mm, 8-10 mm, 10-12 mm, 12-14 mm, 14-16 mm), By Applications (Facades, Exterior Walls, Exterior Flooring and Roofs, Outdoors Furniture, Balcony) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRAM55597DR
Study Period 2020-2032 CAGR 3.78%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD XX Billion
Forecast Year 2032 Forecast Year Market Size USD XX Billion
Largest Market Asia Pacific Fastest Growing Market Europe
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Market Overview

The global HPL exterior boards market size is estimated to grow at a CAGR of 3.78% during the forecast period (2023–2031). In the past few years, rapid urbanization and population growth have led to the development of the construction industry. HPL exterior boards are also rising in the construction sector due to the demand for durable and aesthetic materials, thereby driving the global market. Moreover, an enormous construction sector in emerging economies increases the demand for HPL exterior boards. This is anticipated to create opportunities for HPL exterior board market expansion.

HPL is the abbreviation for high-pressure laminate. High-pressure laminate is a resilient and adaptable material that is frequently used for exterior and interior surfacing and cladding. It comprises resin-impregnated kraft paper layers and a decorative paper layer bonded together using high heat and pressure. Typically, a transparent overlay is the top layer's protective layer against wear and UV rays.

"HPL Exterior Boards" denotes a distinct product category—a High-Pressure Laminate variant specifically engineered for exterior use. Exterior-grade HPL is constructed with the necessary durability to endure atmospheric conditions such as sunlight, precipitation, and temperature variations. These boards are frequently used for exterior surfaces where resistance to weather and longevity are crucial, such as facades and external wall cladding.

Market Dynamics

HPL Exterior Board Market Drivers

Growing Demand from Construction Sector

With surging urbanization and rapid population growth, there is an increase in construction activity. The construction sector experienced significant global expansion. For instance, the US Census Bureau projected construction expenditures at a seasonally adjusted annual rate (SAAR) of USD 1,639.9 billion in December 2021. This figure represents an increase of 0.2% over the revised November estimate of USD 1,636.5 billion.

Additionally, construction expenditures reached USD 1,589.0 billion in 2021, representing an 8.2% increase compared to USD 1,469.2 billion in 2020. The demand for HPL exterior boards strongly correlates with the construction sector and the domain of real estate development. The need for durable and visually pleasing external building materials, such as high-pressure laminate (HPL) boards, rises in tandem with the growth of construction activity. Consequently, expansion in the construction sector is anticipated to expedite the growth of the global market.

Superior Properties of HPL

HPL is renowned for its exceptional resistance to UV rays and temperature fluctuations. Consequently, it is appropriate for outdoor applications where environmental exposure is a concern. This material is suitable for applications where the exterior may be exposed to wear and tear because it is resilient and can withstand physical impact. Consequently, regions characterized by harsh climates or where structures are subjected to extreme weather conditions tend to favor these materials.

Generally, HPL surfaces are simple to maintain and clean. They exhibit a reduced propensity for routine maintenance and stain resistance compared to certain alternative materials. Also, its extensive color, pattern, and texture selection provides exterior applications with design versatility. It may be selected to enhance the building's overall aesthetics. It is often lightweight and relatively simple to install, which can be a practical advantage in construction projects. All these factors make HPL a suitable material for external use, driving the global HPL exterior board market.

HPL Exterior Boards Market Restraint

Potential Drawbacks of HPL

The high-pressure laminate system has been thought to be fire-resistant. However, recent tests reveal that HPL can catch hazardous fires. In 2020, the fire safety test BS 8414, which serves as the official method for evaluating conformity with building rules, revealed the failure of a high-pressure laminate (HPL) cladding system. Flames rapidly propagated across a nine-meter test rig in less than eight minutes during the test. Thus, alternative construction materials or competing solutions for outside cladding that may have better benefits or superior performance attributes are considered, restraining the market penetration of high-pressure laminate (HPL) exterior boards.

HPL Exterior Board Market Opportunities

Rising Demand from Emerging Economies

The demand for HPL exterior boards is rising in emerging economies due to the extensive construction industry in regions like Asia-Pacific, Latin America, the Middle East, and Africa. For instance, in Latin America, the increasing demand for houses and hotels is driving the rapid expansion of the building industry. In 2021, around 228 properties were still under construction. The completion of over 106 hotels was projected for 2022, and 55 more hotel projects were underway, with an anticipated completion date of 2023.

Asia-Pacific was the biggest market for the global construction industry in 2022 and will continue to dominate. Asia-Pacific is a developing market since Asian cities are home to over half of the world's urban population and are expected to account for two-thirds of the global urban population growth. Moreover, several residential and non-residential projects are currently under construction in the Middle East and Africa, including the Red Sea Project, Riyadh Metro, Riyadh Rapid Bus Transit, Akoya by Damac, Dubai Frame, and Dubai Metro Expansion in Saudi Arabia. These factors are anticipated to generate opportunities for market growth.

Regional Analysis

Based on region, the global HPL exterior boards market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

In Asia-Pacific, the construction sector is growing because of increased local demand and the availability of low-cost labor. As a result, market players are concentrating on this area to grow their market share and profits. China, Japan, India, and South Korea are significant developing countries in Asia-Pacific. The population and disposable income growth in China, India, and Indonesia have expanded residential housing in the Asia-Pacific region. Consequently, there has been an increased demand for HPL exterior boards within the construction industry. Due to the development of 2,991 hotel construction projects and numerous mega-infrastructure initiatives, the Chinese construction sector is anticipated to expand by 4.21% in 2021.

Similarly, Indonesia exhibits the capacity to achieve a growth rate of approximately 9% during the forthcoming five-year period, primarily attributable to ongoing residential initiatives and a notable count of 378 hotel construction undertakings currently in progress. Therefore, the increasing prominence of the construction sector would result in a corresponding surge in the demand for HPL exterior boards throughout the forecast period.

Europe is expected to grow at a significant pace. The new construction and renovation demand constitutes a large market for HPL exterior boards. In 2019, the European construction industry witnessed a growth of 3.9%, while the renovation sector grew gradually at around 2%. Moreover, the European Commission has also proposed to invest USD 13.8 billion in transport projects. Therefore, the investment proposal and several upcoming projects are expected to accelerate the demand for HPL exterior boards in European countries.

In addition, the region has several countries with extreme weather conditions, like extremely cold weather in the Nordic area and record-breaking rainfall in the UK. In October 2023, Eastern Scotland experienced a significant increase in rainfall, surpassing its previous record. The recorded rainfall, measuring 235.9mm, exceeded the region's average by 82%. During the occurrence of Storm Babet, the area saw notable and very consequential flood consequences, as evidenced by the issuance of two red rain warnings by the Met Office. As a result, HPL exterior boards are preferred for construction in this region as there is a need for durable and weather-resistant exterior solutions that contribute to the demand for HPL exterior boards in the region.

Report Scope

Report Metric Details
Segmentations
By Type
  1. 6-8 mm
  2. 8-10 mm
  3. 10-12 mm
  4. 12-14 mm
  5. 14-16 mm
By Applications
  1. Facades
  2. Exterior Walls
  3. Exterior Flooring and Roofs
  4. Outdoors Furniture
  5. Balcony
Company Profiles OMNOVA Solutions Panolam Industries Trespa International ASD Laminate Wilsonart International Sonae Arauco Abet Laminati Fletcher Building
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global HPL exterior boards market is segmented by type and application.

Based on type, the global HPL exterior board market is divided into 6–8 mm, 8–10 mm, 10–12 mm, 12–14 mm, and 14–16 mm. 

The 6–8 mm segment dominates the global market. This segment covers the HPL external boards, which have sizes ranging from 6 to 8mm. The structures, such as commercial, industrial, civil, and specialized buildings (e.g., hospitals, offices, hotels, schools, railway stations, subways, and airports), necessitate implementing these boards to ensure environmental and fire safety.

Based on application, the global HPL exterior boards market is segmented into facades, exterior walls, exterior flooring and roofs, outdoor furniture, and balconies. 

The exterior wall segment owns the highest market share. The construction of the exterior walls utilizes HPL exterior boards. High-pressure laminate (HPL) exhibits intrinsic resistance to mold formation and mildew, making it particularly advantageous for external applications susceptible to moisture exposure. This characteristic contributes to preserving the integrity and aesthetic appeal of the outside walls over time. The HPL exterior boards are lightweight and characterized by their ease of handling, facilitating a more efficient and expedited installation process.

Furthermore, the material can be readily shaped into diverse forms and dimensions, offering adaptability in architectural composition and guaranteeing an accurate alignment with the outer surfaces. Numerous HPL boards are specifically engineered to possess fire-resistant properties, augmenting the overall safety measures implemented within the structure. This aspect is important in exterior applications with a higher likelihood of fire exposure.

Market Size By Type

Market Size By Type
  • 6-8 mm
  • 8-10 mm
  • 10-12 mm
  • 12-14 mm
  • 14-16 mm
  • Recent Developments

    • March 2023: Merino, India's foremost producer of high-pressure decorative laminates, is pleased to unveil the inaugural BIM catalog, which empowers interior designers and architects to integrate personalized laminate designs into two-dimensional and three-dimensional projects.
    • May 2023: Greenlam Industries Ltd., a well-established manufacturer of decorative surfaces, exhibited an impressive assortment of high-quality merchandise at the Interzum Exhibition 2023. Greenlam Industries Ltd. showcased a diverse range of innovative products at the exhibition. Notably, the company unveiled its 2023 collections of HPL, Stratus tabletops, countertops and splashback solutions, exterior panels, and anti-fingerprint surfaces.

    Top Key Players

    HPL Exterior Boards Market Share of Key Players

    HPL Exterior Boards Market Share of Key Players
    OMNOVA Solutions Panolam Industries Trespa International ASD Laminate Wilsonart International Sonae Arauco Abet Laminati Fletcher Building Others

    Frequently Asked Questions (FAQs)

    What is HPL (High-Pressure Laminate) and how is it used in the construction industry?
    HPL, or High-Pressure Laminate, is a resilient material used for exterior and interior surfacing and cladding in construction. It is created by bonding resin-impregnated kraft paper layers and a decorative paper layer under high heat and pressure.
    The growth of the global HPL Exterior Boards market is driven by factors such as the increasing demand from the construction sector, especially in emerging economies.
    A potential drawback of HPL is its fire resistance. Despite being thought to be fire-resistant, recent tests have shown that HPL can catch hazardous fires.
    The demand for HPL exterior boards is expected to rise in emerging economies, particularly in Asia-Pacific, Latin America, and the Middle East and Africa.
    Key players in the global HPL Exterior Boards market include OMNOVA Solutions, Panolam Industries, Trespa International, ASD Laminate, Wilsonart International, Sonae Arauco, Abet Laminati, and Fletcher Building, among others.


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