According to IMARC Group latest published report, titled “Laminate Flooring Market 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.
Year Considered to Estimate the Market Size:
Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 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.
Covid-19 Scenario:
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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Market Trends and Drivers:
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.
Global Laminate Flooring Market Coverage and Industry 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.
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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