In our rapidly transforming global economy, staying ahead of industry trends is vital. When it comes to making informed business decisions, comprehensive market research reports are an invaluable tool. For senior executives operating in the ever-growing building and construction industry, understanding the trends and growth potential of the laminate flooring market is no exception.
Our meticulously crafted market research report offers an in-depth examination of the laminate flooring market dynamics, notably influenced by construction activity in emerging nations due to urbanization and changing lifestyles. We delve into the recent surge in popularity of laminate flooring due to its cost-effectiveness and versatility in designs, from reproducing aesthetics of stone to wood.
The report addresses the industry's challenges, such as the volatility of raw ingredients' prices and supply, and provides an analysis of the market segments, highlighting medium-density fiberboard laminated flooring currently dominating the industry. Furthermore, this document presents the trends in commercial application of laminate flooring and predicts future accelerations in the Asia-Pacific region.
Invest in our laminate flooring market research report, and step into the future of the industry armed with nuanced insights and strategic knowledge.
COVID-19 has shaken markets and shifted economic conditions. The market for laminate flooring has suffered as a result. Transactions are suspended due to manufacturing sectors closing down due to the pandemic, which hampered home and building project construction. Additionally, lockdown limitations have prevented new purchases of laminate flooring.
Manufacturers of laminate flooring may face significant difficulties due to raw ingredients' price and supply volatility. The two market segments are high-density fiberboard laminated flooring and medium-density fiberboard laminated flooring. The most common product category in the laminate flooring industry right now, with the highest share, is medium-density fiberboard laminated flooring.
Laminate Flooring Market Trends
Commercial Application is Dominating the MarketWith a large share of the market, the commercial application rules. Because it is inexpensive, low maintenance and wear-resistant, laminate flooring is widely used in the business sector. It is followed by the residential sector. The market for laminate flooring in the commercial sector has greatly expanded as a result of the strong demand from five-star hotels, showrooms, retail stores, and corporate offices. Additionally, the growing popularity of wood-based flooring and increased investments in the commercial real estate industry have supported market expansion on a global scale.
Asia-Pacific is Expected to Grow at a Fast PaceAsia-Pacific is the market region with the quickest rate of expansion globally. The expansion of the market in the area may be attributed to factors such as rapid urbanization, a growing building industry, government initiatives, and the availability of advantageous policies. In the upcoming years, low production costs and increased disposable incomes might help the region's market. China is a significant flooring consumer in the area and is anticipated to have the greatest CAGR going forward. According to projections, developing nations like India will experience the biggest growth in the following years.
Laminate Flooring Market Competitor AnalysisThe market for laminate flooring is highly fragmented. Major multinational companies active in the laminate flooring market are covered in the report. Players like Tarkett SA, Mohawk Industries Inc., Shaw Industries Group Inc., and Beaulieu International Group dominate the market. However, thanks to product innovation and technology developments, mid-sized and smaller businesses are growing their market share by winning new businesses and entering untapped sectors.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Porter Five Forces
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technological Advancements in the Industry
4.7 Impact of COVID-19 on the Market
5.1.1 High-density Fiberboard Laminated Flooring
5.1.2 Medium-density Fiberboard Laminated Flooring
5.2 By Application
5.3 By Distribution Channel
5.3.1 Offline Stores
5.3.2 Online Stores
5.4 By Geography
5.4.1 North America
5.4.4 South America
5.4.5 Middle-East and Africa
6.2 Company Profiles
6.2.1 Tarkett SA
6.2.2 Mohawk Industries Inc.
6.2.3 Shaw Industries Group Inc.
6.2.4 Armstrong Flooring Inc.
6.2.5 Beaulieu International Group
6.2.6 Mannington Mills Inc.
6.2.7 Classen Group
6.2.8 Formica Group
6.2.9 Kaindl Flooring
6.2.10 De Flooring International*
A selection of companies mentioned in this report includes:
- Tarkett SA
- Mohawk Industries Inc.
- Shaw Industries Group Inc.
- Armstrong Flooring Inc.
- Beaulieu International Group
- Mannington Mills Inc.
- Classen Group
- Formica Group
- Kaindl Flooring
- De Flooring International