Global Laminate Flooring Market to Reach USD 17,812.90 Million by 2031
Category : Materials And Chemicals | Published Date : Jul 2024 | Type : Press Release
Laminate Flooring Market Scope & Overview:
Laminate flooring is a man-made type of flooring made up of layers. The top layer is a clear, durable plastic that protects the floor. The middle layer is decorative, resembling different materials like wood or stone. The bottom layer stabilizes the floor. It's popular for residential, commercial, and industrial use due to its durability, affordability, and easy installation. It's also low-maintenance and can be cleaned with a damp mop and mild detergent.
Consegic Business Intelligence analyzes that the Global Laminate Flooring Market size was valued at USD 10,401.35 Million in 2022, is projected to reach over USD 10,959.61 Million in 2023, and is expected to register a CAGR of 6.3% to reach USD 17,812.90 Million by 2031.
This report comprises Laminate Flooring Market Share, Size & Industry Analysis, By Type (High-density Fiberboard Laminated Flooring and Medium-density Fiberboard Laminated Flooring), By End User(Residential, Commercial (Healthcare, Office, and Others), Industrial (Workshop Area, Inventory Area, and Others)), By Distribution Channel(Offline (Hypermarkets, Convenience Stores, and Others), Online (E-commerce Platform and Company Website)), By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2031.
This report contains detailed information on Laminate Flooring Market Opportunities, Trends, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
As per the report analysis, the market for Laminate Flooring Market is growing due to a rise in home renovation and remodeling activities and commercial construction worldwide. The market has seen significant research and development efforts to improve performance, aesthetics, and sustainability. High-definition printing and embossed-in-register technology have enhanced the visual and tactile experience of laminate flooring.
Segmental Analysis :
The Laminate Flooring Market is segmented based on type, end-user, distribution channel, and region.
Based on the type, the market is bifurcated into High-density Fiberboard Laminated Flooring and Medium-density Fiberboard Laminated Flooring.
- The medium-density fiberboard laminated flooring segment dominated the market in 2022 and is expected to grow rapidly. It is popular due to its cost-effectiveness, smooth surface, ability to mimic various materials, good dimensional stability, and ease of installation, which has led to high demand worldwide.
Based on the end user, the market is trifurcated into Residential, Commercial (Healthcare, Office, and Others), and Industrial (Workshop Area, Inventory Area, and Others).
- In 2022, the residential sector accounted for the largest share of 68.79% in the laminate flooring market is growing due to increased construction of houses and residential complexes. It's also driven by product use in home renovation, offering diverse design options for homeowners.
- The commercial segment is expected to be the fastest-growing over the forecast period. Long-span timber floor solutions have shown potential to compete with concrete and steel construction for multi-story commercial buildings, thanks to the high strength-to-weight ratio of timber.
Based on the distribution channel, the market is bifurcated into Offline (Hypermarkets, Convenience Stores, and Others) and Online (E-commerce Platform and Company Website).
- In 2022, offline sales dominated the laminate flooring market, with store assistants influencing customers to try new products, making hypermarkets a prime channel for product launches.
- The online segment is expected to be the fastest-growing, driven by e-commerce popularity, manufacturer websites, urbanization, and online retailers offering discounts and cash-back offers.
By region, the market is segregated into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- In 2022, Asia Pacific had the highest market share of 41.21%, valued at USD 4,286.40 million. It is expected to reach USD 7,105.57 million in 2031. China held the highest market share of 31.30% in 2022 and is a key global exporter of flooring products due to infrastructure development, changing consumer lifestyles, and growing demand for insulation.
- North America is expected to register significant growth with a CAGR of 6.9% during the forecasted period, driven by increasing focus on home decor and improving lifestyles leading to more renovation and refurbishing activities.
| Report Attributes | Report Details |
| By Type | High-density Fiberboard Laminated Flooring and Medium-density Fiberboard Laminated Flooring |
| By End User | Residential, Commercial (Healthcare, Office, and Others), Industrial (Workshop Area, Inventory Area, and Others) |
| By Distribution Channel | Offline (Hypermarkets, Convenience Stores, and Others), Online (E-commerce Platform and Company Website) |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Laminate Flooring Industry :
- Tarkett SA
- Mohawk Industries Inc.
- Shaw Industries Group Inc.
- AHF, LLC.
- Beaulieu International Group
- Sika AG
- Mannington Mills, Inc.
- Squarefoot
- Action TESA
- BVG Industries Pvt. Ltd.
Recent Industry Developments :
- In May 2023, Armstrong World Industries, Inc. partnered with Spacekit to offer modular, acoustical wall art on Armstrong's KanopibyArmstrong.com platform.
- In January 2022, Notion, based in India, launched a new laminate flooring series for commercial and residential applications.
