Press release
Laminate Flooring Market Size to Reach 1,369.3 Million Sq. Metres by 2032 | With a 2.6% CAGR
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Factors Affecting the Growth of the Laminate Flooring Industry:
●Durability and Longevity:
The rising adoption of laminate flooring due to its enhanced durability and longevity is impelling the growth of the market. These features make it a preferred choice for high-traffic areas in both residential and commercial settings. In addition, laminate flooring offers a reliable solution for spaces that require a robust flooring option capable of withstanding constant wear and tear. It can maintain its appearance and structural integrity over time. Furthermore, individuals are seeking a long-term flooring solution that reduces the need for frequent replacements and associated maintenance costs.
●Easy Installation:
The simplicity and ease of installation associated with laminate flooring contribute to its widespread adoption, appealing to both do-it-yourself (DIY) enthusiasts and individuals seeking to minimize installation costs. Additionally, laminate flooring allows for hassle-free installation, reducing the time and effort required for the flooring project. This accessibility and convenience make laminate flooring an attractive option for homeowners and property managers looking to complete flooring projects quickly and efficiently. Apart from this, the rising focus on quick and reliable flooring solutions is supporting the market growth.
●Wide Range of Designs and Styles:
The diverse range of designs, colors, and textures offered by laminate flooring allows individuals to find options that align with their aesthetic preferences and interior decor. Besides this, advancements in manufacturing technology allow laminate flooring to closely mimic the look and feel of natural materials, such as hardwood, stone, or tile. These advancements provide individuals with a versatile flooring solution that suits various design themes and preferences. This variety of design options expands the appeal of laminate flooring to a broader range of individuals while catering to their different tastes and styles.
Leading Companies Operating in the Global Laminate Flooring Industry:
●Mohawk Industries, Inc.
●Tarkett SA
●Armstrong World Industries, Inc.
●Shaw Industries, Inc.
●Mannington Mills, Inc.
●Beaulieu International Group
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Laminate Flooring Market Report Segmentation:
By Type:
●HDF Laminates
●MDF Laminates
MDF laminates represent the largest segment as they allow for consistent adhesion of laminate sheets.
By Sector:
●Residential
●Commercial
Residential holds the biggest market share due to the rising home renovation projects.
Regional Insights:
●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
Asia Pacific enjoys a leading position in the laminate flooring market on account of increasing construction activities.
Global Laminate Flooring Market Trends:
Laminate flooring is cost-effective as compared to hardwood, which makes it a suitable choice for budget-conscious individuals. Besides this, it offers a similar aesthetic appeal to natural options.
In line with this, innovations in laminate flooring technology, such as improved surface textures, enhanced water resistance, and advanced locking systems, are supporting the growth of the market. Advancements in locking system technology are making laminate flooring easier to install and more secure. Furthermore, click-lock or glueless installation systems allow planks to be easily snapped together, eliminating the need for adhesives while reducing installation time and effort. These advanced locking systems also ensure a tight, secure fit between planks, minimizing the risk of gaps or unevenness in the flooring surface.
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