Laminate Flooring Market Growth Factors, Investment Analysis, Applications And Uses 2023
Laminate Flooring Market Overview:
The global laminate flooring market (Opens in a new window) is projected to reach USD 17,812.90 Million by 2031, growing at a CAGR of 6.3% from 2023 to 2030. Laminate flooring is relatively easy to install and requires minimal maintenance, making it ideal for DIY enthusiasts and busy homeowners. Increasing urbanization and economic development in emerging economies are sustaining the construction of new residential and commercial buildings, boosting demand for laminate flooring.
Laminate Flooring Market Regional Analysis:
Asia Pacific: Expected to be the fastest-growing region due to rapid urbanization and rising disposable incomes.
Europe: Mature market with a focus on high-quality and eco-friendly laminate flooring.
North America: Stable market with a strong presence of established players.
Latin America: Growing market with increasing demand for affordable and durable flooring options.
Middle East & Africa: Emerging market with potential for future growth.
Laminate Flooring Market Drivers:
Growing residential and commercial construction: The rising demand for housing units, offices, and retail spaces across the globe is a primary driver of the laminate flooring market.
Renovation and remodeling activities: Increasing disposable incomes and a focus on home improvement are leading to higher spending on renovation projects, further propelling the market.
Urbanization and migration: The shift of population towards urban centers creates a need for new buildings and renovations in existing ones, gives laminate flooring market benefits (Opens in a new window).
Rising awareness of sustainability: Laminate flooring is often made from recycled materials and requires less energy to produce compared to other flooring options, appealing to environmentally conscious consumers.
Laminate Flooring Market Key Players:
Tarkett SA
Mohawk Industries Inc.
Shaw Industries Group Inc.
AHF LLC.
Beaulieu International Group
Sika AG
Mannington Mills Inc.
Squarefoot
Action TESA
BVG Industries Pvt. Ltd.
Laminate Flooring Market Segmentation:
By Type: High-density Fiberboard Laminated Flooring and Medium-density Fiberboard Laminated Flooring
By End User: Residential, Commercial (Healthcare, Office, and Others), Industrial (Workshop Area, Inventory Area, and Others)
By Distribution Channel: Offline (Hypermarkets, Convenience Stores, and Others), Online (E-commerce Platform and Company Website)
By Region: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
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