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India Laminate Flooring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 150 Pages
  • January 2022
  • Region: India
  • Mordor Intelligence
  • ID: 5332862

In India, the laminate flooring market has been experiencing steady growth over the years, and it is expected to record a CAGR of greater than 6% during the forecast period (2021-2026).

COVID-19 has shaken India's economy and changed the market scenario. It has negatively impacted the Indian laminate flooring market. Transactions are halted as manufacturing industries had to be shut down due to the nationwide lockdown. The purchase of laminate flooring products has been declined due to lockdowns imposed by the Indian government. Due to the COVID-19 pandemic, the market was under pressure in 2020. This factor restricted the construction of housing and building projects. Moreover, the lockdown and related restrictions have forced the manufacturing of laminate flooring products to stop and reduced their sales, which resulted in a decline in the overall Indian market.

Laminate flooring refers to a multi-layer synthetic flooring product, with 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. Laminate flooring is economical, highly resistant to dust and damage, versatile, durable, eco-friendly, and easy to install. Laminate flooring is relatively inexpensive, as compared to engineered wood, solid hardwood, and stone floor coverings. Moreover, it is available in varying widths, lengths, and thicknesses and can replicate different surfaces, including wood, stones, and tiles. Hence, the demand for laminate flooring is increasing across India.

Additionally, one of the major factors driving the market growth is the rapid rise of the construction industry. Urbanization, industrialization, and changing lifestyles have resulted in an increase in construction activities in emerging countries like India. Rising environmental concerns regarding the usage of timber and new technological innovations are expected to continue to spur the demand in the upcoming years. The price volatility of raw materials and their availability can pose a major challenge to laminate flooring manufacturers. The flooring manufacturing sector is one of the sectors that have been bearing the brunt of COVID-19 for more than a year. Manufacturers were stranded on raw material orders due to a major impact of COVID-19 on the logistics industry due to the lockdowns. All these factors have been limiting the laminate flooring industry's growth amid the pandemic.

Key Market Trends

Commercial Segment is Expected to Hold a Major Market Share in the Near Future

The demand for laminate flooring in the commercial segment is on the rise, with growing construction activities in the country. Factors, such as the rising population and the rapid growth of urbanization, have propelled construction activities of corporate offices, retail spaces, educational facilities, government buildings, hotels, lodging spaces, medical and healthcare units, industrial spaces, and commercial utilities. The commercial applications segment is expected to witness the fastest CAGR over the forecast period, owing to the increasing product penetration in retail and hospitality construction. The rapidly expanding commercial sector in the country, including malls and retail shops, is expected to drive the demand for laminate floorings. Rising government efforts to boost the tourism sector in the country are expected to positively influence the hospitality sector, which in turn, is expected to drive the market. This factor, in turn, is expected to influence the demand for laminate flooring positively. The demand for luxury living spaces, hotels, and other hospitality facilities is forecasted to drive the growth of the market. Laminate flooring is emerging in the country as it offers a cost-effective alternative to hardwood flooring without compromising aesthetic properties. Laminate wood floorings are a popular choice across the distribution channel as it comparatively comes in an affordable range and offers a natural finish.

Growing Construction Industry in India is Driving the Market

With rapid industrialization, rising expenditure of infrastructure projects and manufacturing facilities, and the booming residential construction market, the floor covering market is anticipated to register rapid growth in the forecast period. The construction industry in India consists of the real estate and urban development segments. The real estate segment covers residential, office, retail, hotels, and leisure parks, among others, while the urban development segment broadly consists of sub-segments, such as water supply, sanitation, urban transport, schools, and healthcare. According to statistics, by 2025, the construction market in India is expected to emerge as the third-largest, globally, and the construction output is expected to grow on average by 7.1% each year. The laminate flooring market, which is a sub-segment of non-resilient floor coverings, is growing, with positive trends in commercial construction, followed by residential construction. The shifts in consumer preferences for improved finishing ability, along with benefits like economical, highly dust- and damage-resistant, versatile, durable, eco-friendly, and easy to install, are encouraging the product penetration of non-resilient floor covering applications in the industrial and hospitality sectors.

Competitive Landscape

The report covers major international players operating in the Indian laminate flooring market. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain/Supply Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5.1 Product Type
5.1.1 High-density Fiberboard Laminated Flooring
5.1.2 Medium-density Fiberboard Laminated Flooring
5.2 End User
5.2.1 Residential
5.2.2 Commercial
5.3 Distribution Channel
5.3.1 Offline Stores
5.3.2 Online Stores
6.1 Company Profiles
6.1.1 Accord Floors
6.1.2 Avant Flooring
6.1.3 Surfaces India Flooring Pvt. Ltd
6.1.4 Pergo
6.1.5 Inovar Floors India
6.1.6 BVG Flooring
6.1.7 Greenlam Industries
6.1.8 Notion Flooring
6.1.9 Marco Polo flooring
6.1.10 QuickStep

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Accord Floors
  • Avant Flooring
  • Surfaces India Flooring Pvt. Ltd
  • Pergo
  • Inovar Floors India
  • BVG Flooring
  • Greenlam Industries
  • Notion Flooring
  • Marco Polo flooring
  • QuickStep