Global Laminate Flooring Market growing at a CAGR of 6.3% from 2023 to 2031
Category : Materials And Chemicals | Published Date : Oct 2023
Key Market Overview
Consegic Business Intelligence analyzes that the laminate flooring market is predicted to grow at a compound annual growth rate of 6.3% from 2023 to 2031 and is expected to reach USD 17,812.90 million in 2031 and 10,959.61 million in 2023 which was valued at USD 10,401.35 million in 2022.
The report highlights a growing application of laminated flooring in commercial construction. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the laminate flooring market.
Global Laminate Flooring Market By Overview
The laminate flooring market is segmented into type, application, and distribution channels. Based on type, the market is segmented into high-density fiberboard laminated flooring and medium-density fiberboard laminated flooring. In 2022, the medium-density fiberboard laminated flooring segment dominate in the overall laminate flooring market. Based on end user segment is categorized into residential, commercial, and industrial. In 2022, the residential segment accounted for the highest market share in the laminate flooring market. The distribution channel segment is categorized into offline and online. In 2022, the offline segment accounted for the highest market share in the laminate flooring market.
Get Free SampleMarket Dynamics
Driver:
- The growing application of laminated flooring in commercial construction is a major driver for market growth.
- Home renovation and remodeling activities are on the rise all over the world, which drives the growth of the market.
Restraints:
- Volatility in price is restricting the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| 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 |
Competitive Landscape :
The market is dominated by certain major companies such as Tarkett SA, Mohawk Industries Inc., and Shaw Industries Group Inc. which have a strong market position in the current market circumstances. These companies are continuously leveraging new product launches and expansion of business. Furthermore, the laminate flooring market is expected to witness substantial growth in the coming years due to the growing demand for laminate flooring in residential and commercial construction.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- 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.