According to IMARC Group latest published report, titled “Laminate Flooring Market Research: Global Industry Trends Analysis, Share, Size, Growth, Opportunity and Forecast 2022-2027,” that the global laminate flooring market reached a volume of 1,010.3 Million Sq. Metres in 2021. Looking forward, IMARC Group expects the market to reach 1,222.4 Million Sq. Metres by 2027, exhibiting a CAGR of 3.13% during 2022-2027.
Laminate flooring refers to a durable and versatile flooring solution made of melamine resin and fiberboard materials. It is composed of four layers, namely wear layer, design layer, core layer and back layer, which are fused using intense heat and pressure. Nowadays, laminate flooring is available in a wide variety of colors and designs, which enhance its aesthetic appeal among users. As it resists staining, scratching, denting and fading, laminate flooring has gained preference as a flooring material over the years.
Global Laminate Flooring 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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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global laminate flooring market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on type and sector.
Breakup by Type:
- HDF Laminates
- MDF Laminates
At present, MDF, or medium density fiberboard, laminates represent the most popular type of laminate flooring, holding the majority of the global market share. It is similar to particle board and is made up of wood fibers that are glued together with an adhesive or resin under heat and pressure.
Breakup by Sector:
- Residential
- Commercial
The report finds that the residential sector accounts for the majority of the total market share.
Regional Insights:
- Asia Pacific
- North America
- Europe
- Latin America
- Middle East and Africa
Asia Pacific presently enjoys the leading position in the market. Laminate flooring has gained traction in the Asia Pacific region in recent years due to the rising population, and the consequent increase in the need for housing, in countries like India and China.
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Competitive Landscape:
The market is fragmented in nature due to the presence of several small and large manufacturers who compete against each other in terms of prices and quality. Some of the leading players operating in the market are:
- Mohawk Industries, Inc.
- Tarkett SA
- Armstrong World Industries, Inc.
- Shaw Industries, Inc.
- Mannington Mills, Inc.
- Beaulieu International Group
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