Laminate Flooring Market Expected to Reach a Volume of 1,040.5 Million Sq. Metres by 2024 - IMARCGroup.com

According to the latest report by IMARC Group titled, “Laminate Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a volume of nearly 962 Million Sq. Metres in 2018, registering a CAGR of 2% during 2011-2018. Looking forward, the market is expected to reach a volume of 1,040.5 Million Sq. Metres by 2024.

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Laminate flooring refers to a durable human-made product which is created using melamine resin and fiberboard materials. This flooring is composed of four layers with each layer having a distinctive purpose. The back layer helps to protect the plank against moisture and balances the floor while the core layer lying above the back layer protects it from indentations. These layers are sealed together at high temperatures and pressure by the lamination process.

The growing construction sector is significantly driving the market. The rise in standards of living and continuous change in consumers’ tastes have increased the demand for modern housing, particularly in emerging countries. This has significantly contributed to market growth. Moreover, consumers nowadays prefer customized products to harmonize with their wide variety of furniture and home interiors. Owing to this, the manufacturers are introducing innovative floorings by making advancements in their designing and printing technology, such as 3D printing. Also, factors like ease of installation and negligible requirement of skilled labor for laminate flooring as compared to other types of floorings further drives market growth.

Explore full report with table of contents: https://www.imarcgroup.com/laminate-flooring-market

Market Segmentation:

Breakup by Product:

• HDF Laminates
• MDF Laminates

Breakup by Sector:

• Residential
• Commercial

Regional Insights:

• Asia Pacific
• North America
• Europe
• Latin America
• Middle East and Africa

Competitive Landscape

The report has also examined the competitive landscape of global laminate flooring market. Some of the major players in the market are Mohawk Industries Inc., Tarkett, Armstrong World Industries, Inc., Shaw Industries, Inc., Mannington Mills, Inc. and Beaulieu International Group.

Key highlights of the report:

• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players

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