Over the years, laminate flooring has gained popularity as a flooring material. The laminate flooring has been largely used owing to their developments in design and printing technology and the launch of unique product designs by manufacturers, fueling global demand for laminate flooring. Therefore, the market is estimated to show lucrative growth over forecast period.
Global Laminate flooring Market was valued at USD 28.91 billion in 2021 and is expected to reach USD 44.36 billion by 2029, registering a CAGR of 5.5% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Laminate flooring is a multi-layer synthetic flooring product with wear, design, core, and back layers that are glued together using the lamination process. Melamine and aluminum oxide are commonly used in the upper layer to provide the laminate board a scratch and moisture resistant surface. Laminate flooring is less expensive and easier to install and maintain than engineered wood, solid hardwood, and stone floor coverings.
Global Laminate Flooring Market Scope
The laminate flooring market is segmented on the basis of type, product and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
High-Density Fiberboard Laminated Flooring
Medium-Density Fiberboard Laminated Flooring
Product
Hard Flooring
Soft Flooring
Application
Residential
Commercial
Industrial
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Laminate flooring Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
Various Advantages Offered by Laminate Flooring
Compared to engineered wood, solid hardwood, and stone floor coverings, laminate flooring is easier to install, requires less specialized work, and is less expensive. It can even imitate stone, tile, and wood patterns. Furthermore, innovative features such as bespoke prints and designs, better wear layers, high-quality visuals, and greater chemical resistance are expected to drive global demand for laminate flooring. Also, it is a durable and adaptable flooring solution that resists stains, scratching, denting, and fading. These advantageous properties are estimated to boost the market growth over the forecasted period.
Increased Usage Across Residential and Commercial Sectors
The need for modern housing has increased as the world's population and living standards have improved, particularly in emerging economies, contributing significantly to the market's expansion. Moreover, the increase in residential construction floor renovation and replacement activities is predicted to boost demand in the residential end-use market.
The mounting construction activities will further propel the growth rate of laminate flooring market. Additionally, the increased adoption of laminate flooring to replicate different surfaces such as tiles, stones, and wood are projected to bolster the market's growth.
Opportunities
Investments, Advancements And Introduction
Furthermore, the substantial investments in the real estate sector along with the advancements in printing and designing technologies extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the introduction of laminate flooring with advanced characteristics by manufacturers such as bespoke prints and designs, better wear layers, increased locking mechanisms, high-quality visuals, and greater chemical resistance, will further expand the future growth of the laminate flooring market.
Laminate Flooring Market Regional Analysis/Insights
The laminate flooring market is analyzed and market size insights and trends are provided by country, type, product and application as referenced above.
The countries covered in the laminate flooring market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the laminate flooring market because of the large market share of U.S. along with the availability of aerospace and defense equipment as well as other associated infrastructure within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth due to the establishment of assembling facilities for aircrafts in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Laminate Flooring Market Share Analysis
The laminate flooring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to laminate flooring market.
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Some of the major players operating in the laminate flooring market are
Mohawk Industries, Inc., (U.S.)
Shaw Industries Group Inc., (U.S.)
Tarkett (France)
Forbo Management SA (Switzerland)
BASF SE (Germany)
Gerflor (France)
Interface Inc., (U.S.)
Beaulieu International Group (Belgium)
Sika India Pvt. Ltd., (Switzerland)
Fosroc Inc., (U.K.)
Dow (U.S.)
Arkem S.A. (France)
Ashland Inc (U.S.)
Mapei S.p.A (Italy)
MUHU (China)
Construction Materials Co., Ltd., (China)
Holcim (Switzerland)
TOLI Corporation (Japan)
SOLVAY (Belgium)
Milliken (U.S.)
Research Methodology: Global Laminate Flooring Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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