Laminate Flooring Market Driven by Increasing Demand for Wood-Based Flooring Materials
The global laminate flooring market reached a value of US$ 27.4 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.3% during 2021-2026.
Laminate flooring is a type of flooring comprised of melamine resin and fiberboard elements that is both durable and adaptable. It is made up of four layers: the wear layer, the design layer, the core layer, and the back layer, all of which are fused together using high heat and pressure. Laminate flooring is now available in a wide range of colours and patterns, which adds to its visual appeal. Laminate flooring has gained popularity as a flooring material throughout the years due to its resistance to stains, scratching, denting, and fading.
Market Trends:
Laminate flooring offers ease of installation, reduces the requirement for skilled labor and is a relatively inexpensive option as compared to engineered wood, solid hardwood, and stone floor coverings. It can even replicate stone, tiles as well as wood patterns. Besides these advantages, the rising population and improving standards of living have led to a rise in the demand for modern housing, particularly in emerging nations, which has significantly contributed to the growth of the market. Apart from this, substantial investments in the real estate sector, mounting construction activities, and the escalating demand for wood-based flooring materials have proliferated the growth of the market globally. Moreover, manufacturers are introducing laminate flooring with advanced features, such as custom prints and designs, better wear layers, enhanced locking mechanisms, high-quality visuals and improved chemical resistance.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Laminate Flooring Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the key players being Mohawk Industries, Inc. (MHK) , TARKETT (TKTT.PA) , Armstrong World Industries, Inc. (AWI) , Shaw Industries Group, Inc., Mannington Mills, Inc. and Beaulieu International Group.
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The report has segmented the market on the basis of Key Types, Battery Type, Sector, Insights and Region.
Breakup by Key Types:
HDF Laminates
MDF Laminates
Breakup by Sector:
Residential
Commercial
Breakup by Region:
Asia Pacific
North America
Europe
Latin America
Middle East and Africa
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