Lamination is a process of coating your print in a plastic film, leaving it with a nice texture and making it more durable and water resistant than just paper alone.
There are two types of laminate, Matt and Gloss. Matt laminate deflects any reflections as to ensure the print is easy to see even in a high reflection atmosphere. Gloss laminate will add a lot more reflection and will make your print appear very shiny. Both laminates will make a print more durable and nice to the touch.