The latest report by IMARC, titled “Laminate Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global laminate flooring market reached 1,010.3 Million Sq. Meters in 2021. Laminate flooring is a durable and strong solution of flooring, manufactured from melamine resin material and fiberboard. It consists of four layers, including a wear layer, design layer, core layer, and back layer, which are put together through high pressure and heat. Laminate flooring is economical, and easy to maintain and install as compared to solid hardwood, engineered wood, and stone floor coverings. In recent years, laminate flooring has gained momentum as it is available in numerous widths, lengths, thickness, and can replicate various surfaces, such as stones, wood, and tiles.
Global Laminate Flooring Market Trends:
One of the primary factors driving the market is the increasing construction activities globally. Additionally, the rapidly growing population, along with the improving standards of living, have resulted in rising demand for modern housing. This has further resulted in the need for modern flooring materials like laminate flooring, especially in developing nations, which offer durability, and scratch and stain resistance, which is creating a positive market outlook. Other than this, extensive investments in the real estate sector, in confluence with the increasing demand for wood-based flooring materials, is positively influencing the market growth. Besides this, key players are launching flooring with advanced features, including better wear layers, custom prints and designs, high-quality visuals, improved locking mechanisms, and enhanced chemical resistance. They are also focusing on introducing innovative product designs, and advancing the designing and printing technologies, which is escalating the demand for laminate flooring across the globe. Looking forward, IMARC Group expects the market value to reach 1,222.4 Million Sq. Meters by 2027, expanding at a CAGR of 3.13% during the forecast period (2022-2027).
- Based on the type, the market has been bifurcated into HDF and MDF laminates. Presently, MDF laminates represent the most popular type of flooring.
- On the basis of the sector, the market has been divided into residential and commercial. The residential sector currently holds the majority of the total market share.
- Region-wise, the market has been classified into Asia Pacific, North America, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Mohawk Industries Inc., Tarkett SA, Armstrong World Industries Inc., Shaw Industries Inc., Mannington Mills Inc., and Beaulieu International Group.
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