North America Laminate Flooring Market Size Is To Grow At A CAGR Of 3.5 % In The Forecast Period Of 2023-2028

The 'North America Laminate Flooring Market Size, Share, Report and Forecast 2022-2027' by Expert Market Research gives an extensive outlook of the North America laminate flooring market, assessing the market on the basis of its segments like type, sector, and country.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.

North America Laminate Flooring Market Share, Size, Price, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

Forecast CAGR (2023-2028): 3.5%

The North America laminate flooring market is expected to register growth during the forecast period on account of the rise in commercial construction activities. Laminate flooring is used in a significant portion of the commercial sector, including boardrooms, hotels, cafes, theatres, galleries, and sports arenas as it is affordable, low maintenance, and capable of withstanding high volumes of footfalls. This is expected to enhance the market demand for laminate flooring over the coming years.

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Laminate flooring needs fewer specialised tools, has easy installation, and is less expensive as compared to solid hardwood flooring, stone floor coverings, and engineered wood. Laminate can even replicate the appearance of tile, stone, and wood patterns. These aspects are expected to drive more consumer traction in the North America laminate flooring market growth. With advanced features like better wear layers, bespoke designs and prints, greater chemical resistance, and high-quality visuals, the market demand for laminate flooring is expected to surge.

Some of the factors boosting the demand for the North America laminate flooring market are its durability and its characteristics as an adaptable flooring solution that resists scratching, stains, fading, and denting. Moreover, laminate flooring prevents bacteria and mould and incorporates the ability of shock-absorbing due to its material. Thereby, it makes people feel less fatigued while walking or standing on the floor. This is expected to enhance the laminate flooring market demand over the forecast period.

However, the lack of availability of raw materials and price instability is likely to hamper the market growth of laminate flooring and create a challenge for manufacturers.

North America Laminate Flooring Industry Definition and Major Segments

Laminate flooring is a type of flooring that is made up of numerous layers that have been laminated together. The top layer, which is typically constructed of melamine and aluminium oxide, gives the laminate board a surface that is resistant to moisture and scratches. Laminate flooring has recently gained popularity in modern structures due to how easy it is to install and maintain.

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Based on type, the market is segmented into:

HDF Laminates
MDF Laminates

By sector, the market is categorised into:

Residential
Commercial

Based on country, the market is divided into:

United States of America
Canada

North America Laminate Flooring Market Trends

The commercial segment is expected to drive the North America laminate flooring market on account of the extensive usage of laminate flooring in the commercial industry. This is because laminate flooring has low maintenance requirements compared to other flooring options and is cost-effective. The surging preference for wood-based flooring along with the rise in investments in the commercial real estate industry is likely to escalate the market growth.

The increase in demand for laminate flooring in showrooms, five-star hotels, corporate offices, and retail outlets is expected to propel the demand for laminate flooring in the commercial sector. Meanwhile, the residential segment is expected to propel the growth of the North America laminate flooring market on account of the increasing demand for modern housing and improving living standards.

Geographically, the United States is anticipated to drive the laminate flooring market growth on account of the surging interest in home décor. Going further, the improving lifestyles of consumers are likely to enhance the refurbishing and renovation activities in the coming years. The increase in home repair and reconstruction expenditures is likely to enhance investment in home furnishings that is expected to extend to the interior spaces and floorings. This is further expected to fuel the market growth of laminate flooring.

Key Market Players

The major players in the North America laminate flooring market report are:

Armstrong Flooring, Inc.
Shaw Industries
Tarkett
Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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