Press release
A Detailed Analysis of the Global Laminate Flooring Market
Laminate Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global laminate flooring market size reached 1,049 Million Sq. Metres in 2022. Looking forward, IMARC Group expects the market to reach 1,252 Million Sq. Metres by 2028, exhibiting a growth rate (CAGR) of 2.9% during 2023-2028.
Laminate flooring represents a synthetic flooring product composed of various layers, including the design, core, wear, and back coatings, which are fused together through lamination. The top layer typically consists of melamine and aluminum oxide, providing the laminate board with a surface that is resistant to scratches and moisture. Unlike engineered wood, solid hardwood, and stone floor coverings, laminate flooring is cost-effective, easy to install, and requires minimal maintenance. In addition to this, the versatility of this product is reflected in the availability of several widths, lengths, and thicknesses, as well as the ability to replicate various surfaces, such as wood, stone, and tiles.
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Current Trends Shaping the Global Laminate Flooring Market
The rising construction activities across the globe, owing to population growth, the emerging trend of urbanization, economic recovery, inflating incomes, and improving living standards, particularly evident in developing economies, including Brazil and China, are primarily driving the laminate flooring market. Besides this, the escalating demand for modern layering materials that offer resistance and durability to scratches and stains and ease of installation, reducing the reliance on skilled labor, is further augmenting the market growth.
Moreover, the launch of laminate flooring by the leading players with advanced features, including enhanced wear layers, customizable prints and designs, high-quality visuals, improved locking mechanisms, and increased chemical resistance, is also catalyzing the global market. Apart from this, advancements in design and printing technologies, coupled with innovative product designs introduced by the key manufacturers, are acting as significant growth-inducing factors. Furthermore, the substantial investments in the real estate sector and the growing preference for wood-based layering materials are anticipated to propel the laminate flooring market over the forecasted period.
Who are the key players operating in the industry?
The report covers the major market players including:
• Mohawk Industries, Inc.
• Tarkett SA
• Armstrong World Industries, Inc.
• Shaw Industries, Inc.
• Mannington Mills, Inc.
• Beaulieu International Group
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What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup by Sector:
• Residential
• Commercial
Market Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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