Market Overview:

The global Laminate Flooring Market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are prevalence of low-cost products as compared to solid hardwood, engineered wood, and stone floor coverings. Increase in construction and industrial activity, as well as a preference for easy-to-install, low-maintenance, and light-weight building solutions, as well as adoption of new building codes, are factors that drive growth of the market.

Laminate flooring is a long-lasting and adaptable flooring option consisting of Melamine resin and fibreboard components. It is made up of several layers, including a wear layer, a design layer, a core layer, and a back layer. Heat and pressure are employed to fuse all layers. It is low-cost, simple to install, and requires little maintenance, which will likely boost market growth. Melamine and Aluminum oxide is used in laminate flooring upper layer to provide moisture resistance and a scratch-free surface. It is increasingly being used to simulate other surfaces such as stones, tiles, and wood, among others, due to its vast range of dimensions.

Major Factors Driving Growth Of The Global Laminate Flooring Market:

Revenue growth of global Laminate Flooring Market is significantly driven by increasing usage in commercial and residential sectors and prevalence of cost-effective and low-maintenance products. In addition to that, there have been rising preferences for laminate floorings owing to their charismatic features. There has been also an increase in investment in real estate sector. Growing urbanization and industrialization are factors that further drive demand for laminate flooring in the market.

Factors Restraining Growth Of The Global Laminate Flooring Market:

Global Laminate Flooring Market growth is substantially hampered by several factors like high costs associated with availability of raw materials. In addition to that, volatility in raw material prices leads to a reduction in profit margins. This discourages market players and impedes growth of market.

Opportunities For Players Operating In The Global Laminate Flooring Market:

Advancements in design and printing technology, as well as launch of unique product designs by manufacturers are quite high in demand. These are factors that are expected to continue to open up lucrative business opportunities for key players and new entrants in market. Focus on improved chemical resistance, improved wear layers, upgraded locking mechanisms, high-quality graphics by manufacturers are further expected to continue growth of the market going ahead.

Global Laminate Flooring Market Leading Type Segment:

Based on the type segment, medium-density fiberboard laminated flooring segment is expected to reach the highest revenue share over the forecast period. It is composed of wood fibers that have been bonded with a resin or glue under high heat and pressure. It has many advantages over the high-density fiberboard laminated flooring. Thus, this marks growth of the segment in the Laminate Flooring Market.

Global Laminate Flooring Market Leading Application Segment:

Based on the application segment, commercial segment is expected to reach highest revenue share over the forecast period. Laminate flooring is widely utilized in commercial sector because it is inexpensive, requires little care, and can sustain high volumes of traffic. Need for laminate flooring in the commercial sector has expanded dramatically as a result of high demand from five-star hotels, showrooms, retail shops, and corporate offices. Furthermore, increasing expenditures in commercial real estate sector, as well as a growing preference for wood-based floorings, have propelled global market expansion.

North America Accounts For Largest Revenue Share In Global Laminate Flooring Market:

North America emerged as the largest market in Laminate Flooring Market. It has the largest revenue share in 2020.  Revenue growth in North America is mainly attributed to developed economies like the USA. Demand for new projects, as well as flooring replacement and refurbishment programs, continues to grow in developed nations like the USA. Additionally, technological breakthroughs enhanced moisture resistance capabilities, and creation of glue-less laminates have all contributed to a surge in interest in laminate flooring goods in this region.

Asia Pacific Continues To Lead In Terms Of Revenue CAGR In Global Laminate Flooring Market:

Asia Pacific Laminate Flooring Market is expected to register the fastest growth in CAGR over the forecast period. Growth of the market in this region is owing to rapid urbanization, rising construction industry, larger governmental initiatives and investments, and appropriate policies. Additionally, rising disposable incomes and lower production costs are expected to drive overall market growth in region throughout the projection period. China is a key player in laminate flooring in Asia Pacific, and is expected to grow at the fastest rate in the next years. Developing countries, such as India, are expected to grow at a faster rate as well.

Major Companies Profiled In The Report:

  • Mohawk Industries Inc
  • Tarkett SA
  • Armstrong World Industries Inc
  • Shaw Industries Inc
  • Mannington Mills Inc
  • Beaulieu International Group

Strategies And Objectives Of Major Companies:

  • In June 2021, Shaw Industries Group, Inc. has partnered with local real estate developers to develop innovative housing solutions, which will feature laminate flooring as a component.
  • In January 2018, Tarkett increased its Luxury Vinyl Tiles (LVT) production capacity in North America and Europe in January 2018, invested $85.89 million over the next three years to meet rising low vinyl demand. The investment is expected to boost more sustainable and long-term manufacturing.
  • Mohawk Industries has a global presence in over 170 countries. To fulfil market demand, the company has introduced various new products in the past and plans to introduce new and innovative laminate flooring in the future.

What Our Report Provides And Why Our Offering Is Better:

This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2018 to 2028. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.

Detailed Segmentation In Our Report:

For the purpose of this report, the global Laminate Flooring Market is segmented on the basis of type, application, and region:

Type Outlook (Revenue, USD Billion; 2018-2028)

  • High-Density Fiberboard Laminated Flooring
  • Medium-Density Fiberboard Laminated Flooring

Application Outlook (Revenue, USD Billion; 2018-2028)

  • Residential
  • Commercial
  • Industrial

Region Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa

Some points on how the report benefits stakeholders:

  • The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
  • Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
  • The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
  • The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
  • Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
  • The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

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