Laminate Flooring Market Size, Share & Industry Analysis, By Type (High-density Fiberboard Laminated Flooring, Medium-density Fiberboard Laminated Flooring), By Application (Residential, Commercial, Industrial) And Regional Forecast, 2024-2032

Laminate flooring refers to a product consisting of many layers fused together by the lamination process. The upper layer is normally made of melamine & aluminum oxide and aims to provide the laminate board with a scratch-resistant and moisture-resistant surface. Since laminate flooring is simple to set up and manage, it has recently become popular in innovative buildings.

The increase in commercial construction activities worldwide is expected to support growth of the global market. A large section of commercial sector, including hotels, cafes, theaters, galleries, sports stadiums and boardrooms, are expected to adopt laminate flooring as it is cost effective, requires low maintenance and has the capacity to withstand heavy traffic. Rising construction initiatives in a number of countries are expected to open new pathways for market development in the future. However, the price volatility and lack of availability of raw materials is the key challenge for laminate flooring manufacturers, turning down the market growth.

Key Market Driver -

Increased application in commercial construction is expected to drive the market.

Key Market Restraint -

Volatility in price is likely to restrict the market growth.

Market Segmentation:

Based on type the market for  laminate flooring is further segmented into high-density fiberboard laminated flooring and medium-density fiberboard laminated flooring. Based on application, the market for  laminate flooring is further segmented into residential, commercial and industrial. From a geographical standpoint, the market is categorized to North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global & regional players operating in the  laminate flooring market includes, Tarkett SA, Mohawk Industries Inc., Shaw Industries Group Inc. Armstrong Flooring Inc., Beaulieu International Group

Key Insights

• New Advancements in Production Technologies


• Key Trends in the  Laminate Flooring market


• New Product Launches, Expansions, Key Players


• Ranking of Key Players in the Market

Regional Analysis:

Asia-Pacific is the fastest-growing region in the global market. Rising construction industry, owing to fast paced urbanization along with favorable government policies may boost market growth in the region. Low manufacturing cost and rising disposable income are two vital factors that shall influence market growth in the coming years. China is the largest user of flooring products and is expected to have the fastest growth in Asia Pacific. Europe showcased substantial growth due to the high presence of popular manufacturers. Due to the growth in residential applications, the majority of the regional demand is dominated by hardwood. For example, the National Energy Efficiency Action Plans (NEEAPs), in Europe, seek to promote investment in the rehabilitation of residential and commercial buildings. This in turn, is expected to boost the demand for laminate flooring. Increasing emphasis on home decor and enhancing  lifestyles of people are driving renovation and refurbishing activities in North America. For instance, Leading Indicator of Remodeling Activity (LIRA), reported that in the U.S., yearly growth of home repair and reconstruction expenditures is expected to increase investment on home furnishings such as carpets, and other floor coverings that contribute to the artistic appeal of interior spaces. Middle East and Latin America shows slow growth owing to lack of manufacturing facilities and slow growth of construction industry in these regions.

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Segmentation

Laminate Flooring Industry Developments

• In January 2018, Tarkett invested USD 85.9 million to expand its Luxury Vinyl Tiles production capacity in Europe and North America. This investment was done to meet the increasing demand for modular vinyl flooring in these regions 


• In November 2017, Mohawk Industries purchased the Godfrey Hirst Group (Australia),  largest manufacturer of carpets, with the goal of expanding its overseas operations. This aquisition helped Godfrey Hirst's production, marketing and distribution leadership to complement Mohawk's existing distribution and product range.