Global Laminate Flooring Market, By Type (High-Density Fiberboard Laminated Flooring, Medium-Density Fiberboard Laminated Flooring), Product (Hard Flooring, Soft Flooring), Application (Residential, Commercial, Industrial) – Industry Trends and Forecast to 2029
Market Analysis and Size
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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (High-Density Fiberboard Laminated Flooring, Medium-Density Fiberboard Laminated Flooring), Product (Hard Flooring, Soft Flooring), Application (Residential, Commercial, Industrial)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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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) and Milliken (U.S.)
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Market Opportunities
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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.
Restraints/Challenges
- Price and Availability of Raw Materials
The price fluctuation of laminate flooring raw materials and their availability can offer a significant problem to laminate flooring manufacturers, which will create hindrances for the growth of the laminate flooring market.
- Health And Environmental Concerns
The surge in health and environmental concerns will prove to be a demerit for the laminate flooring market. Therefore, this will challenge the laminate flooring market growth rate.
Moreover, waste disposal is also expected to hamper the growth of the global laminate flooring market.
This laminate flooring market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the laminate flooring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Laminate fFooring Market
The recent outbreak of coronavirus had an adverse impact on the laminate flooring market as the construction, industrial, and the pandemic severely impacted logistics industries. Construction activities were likewise halted or severely curtailed. Globally, manufacturing and transportation activities, as well as their supply chains, were affected. This consequently hampered the expansion of the laminate flooring market. COVID-19 has already had an impact on laminate flooring sales in the first and second quarters of 2021, but has rebounded significantly in the third and fourth quarters of 2020.
On the flip side, all industries are gradually restarting normal manufacturing and service operations as the lockdowns restrictions are relaxed. This is also predicted to result in the re-starting of laminate flooring companies at full capacity, assisting the market to recover and start flourishing with the same pace as pre pandemic levels.
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
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.
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.)
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