The global laminate flooring market reached a volume of 975 Million Sq. Meters in 2019. Laminate flooring refers to a multi-layer synthetic flooring product, that is made up of the wear, design, core and back layers sealed together using the lamination process. The upper layer usually comprises melamine and aluminum oxide that aid in providing the laminate board a scratch and moisture resistant surface. In comparison to engineered wood, solid hardwood, and stone floor coverings, laminate flooring is inexpensive and easy to install as well as maintain. As it is available in varying widths, lengths and thickness, and can replicate different surfaces including wood, stones and tiles, the demand for laminate flooring is increasing across the globe.
One of the major factors driving the market growth is the rise in construction activities across the globe. On account of the growing population, rapid urbanization, recovery of the global economy, inflating incomes levels and improving standards of living, a rise in the demand for housing has been witnessed in recent years, especially in developing economies like Brazil and China. This has further led to an increase in the need for modern flooring materials like laminate flooring which offer durability, scratch and stain resistance. As opposed to the other flooring materials, laminate flooring offers ease of installation which reduces the requirement of skilled labor. Apart from this, advancements in the designing and printing technologies and the introduction of innovative product designs by manufacturers are stimulating the demand for laminate flooring across the globe. Looking forward, IMARC Group expects the global laminate flooring market to exhibit moderate growth during the next five years.
Breakup by Key Types:
At present, MDF, or medium density fiberboard, laminates represent the most popular type of laminate flooring, holding the majority of the global market share. It is similar to particle board and is made up of wood fibers that are glued together with an adhesive or resin under heat and pressure.
Breakup by Sector:
The report finds that the commercial sector accounts for the majority of the total market share. This can be accredited to the growing trend of interior decoration and emerging demand for aesthetically appealing flooring materials in the sector.
Asia Pacific presently enjoys the leading position in the market. Laminate flooring has gained traction in the Asia Pacific region in recent years due to the rising population, and the consequent increase in the need for housing, in countries like India and China.
The market is fragmented in nature due to the presence of several small and large manufacturers who compete against each other in terms of prices and quality. Some of the leading players operating in the market are:
Key Questions Answered in This Report:
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