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Increasing urbanization is also expected to influence market potential in the Latin American region. Currently, the Latin America decor paper market holds a market share of 9.9% in the global marketplace. With a market share of 4%, the decor paper market in the MEA region is anticipated to rise at the slowest CAGR among all regions. How Lucrative is the Indian Market for Decor Paper Manufacturers? India has seen a substantial change in consumer preferences over the past few years and this has major influenced sales of furniture decor paper. Increasing per capita disposable income, rising standard of living, and increasing popularity of home decor trends are major factors that govern decor paper consumption in India.
On the regional front, Asia Pacific has been a promising regional market. China has been a massively lucrative market, where its growth is driven by the rapid penetration of decor paper manufacturers. North America has seen substantial avenues backed by extensive research in developing specialty paper for wooden markets. Also, the growth in these regional markets have been driven by a favorable macroeconomic dynamics. The strides made by paperboard industry have also pivot the generation of new revenue streams in the decor paper market.
M-THIN-MV collection is made of 4 solid color low basis weight pre-impregnated papers for finish foil applications which are not exposed to extreme surface wear, such as inside and backside of drawers, cupboards or wall and ceiling panels. Pre-impregnated papers enjoy a steady demand growth and we expect this increasing trend to continue, since finish foils perfectly support efficient and sustainable furniture manufacturing. As the innovation leader in the production of formaldehyde-free pre-impregnated foil base papers we are planning further investments.
Lifestyle trends have evolved massively over the past years, and this has changed the home decor industry in multiple aspects. Use of decor paper, decor glass, decor polystyrene, etc., has substantially increased in recent years as the preference for luxury furniture has increased on a global scale. Shipments of decor paper rose at a CAGR of 5% from 2013 to 2021. Decor paper gives a high-end quality finish to wood-based surfaces and has been gaining significant popularity as demand for luxury and high-quality furniture increases from residential and commercial applications alike. Read additional information on wood grain paper.