The global laminate flooring market has experienced a steady growth over the past few years. This can be accredited to the rising urbanisation along with the technological developments and introduction of innovative product designs by the manufacturers.

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laminate flooring market share

laminate flooring market share

Laminate flooring refers to a durable and versatile flooring made from melamine resin and fiberboard materials. It is composed of layers, layer layer and back layer, which are fused together using intense heat and pressure. Laminate flooring is relatively inexpensive as compared to engineered wood, solid hardwood, and stone floor coverings. As it can be replicated stone, the tiles have been growing in the recent years. A new research report by the IMARC Group, titled  "Laminate Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024",  estimates that the  global laminate flooring market reached 962 Million Sq. Meters in 2018, registering at CAGR of 2% during 2011-2018. The report further forecasts the market to reach a volume of 1,040.5 Million Sq. Meters by 2024.

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Market Drivers / Constraints:

  • With rising population and improving standards of living, it has been growing in demand for modern housing, particularly in the emerging nations, which has significantly contributed to the growth of the market.
  • The advancements in the design and printing technology and the introduction of innovative product designs by the manufacturers are some of the other growth-inducing factors propelling the global laminate flooring market.
  • Laminate flooring provides ease of installation and reduces the need for skilled labor. This has been favorably impacted on the growth of the laminate flooring market globally.
  • The price volatility of the raw materials of laminate flooring and their ability to pose a major challenge to the laminate flooring manufacturers.

Insights on Market Segmentation:

Market Performance of Key Types:

1. HDF Laminates

2. MDF Laminates

On the basis of product type, the market has been segmented into HDF and MDF laminates. Currently, MDF laminates represent the most popular product in the laminate flooring market, accounting for the largest share.

Market Performance by Sector:

1. Residential

2. Commercial

Based on sector, the report finds that the market dominates the market, holding the majority of the market share. Laminate flooring is extensively used in this sector, it is cost-effective, requires low-maintenance and has the ability to withstand high traffic. It is followed by the residential sector.

Market Performance of Key Regions:

1. Asia Pacific

2. North America

3. Europe

4. Latin America

5. Middle East and Africa

On a geographical front, Asia-Pacific enjoys the leading position in the global laminate flooring market. The growing spending capacity, rapid urbanization, and increasing number of housing projects are driving the market across the region. Other major regions include North America, Europe, Latin America, Middle East and Africa.

Competitive Landscape:

The laminate flooring industry is highly fragmented with the presence of numerous small and large manufacturers. Some of the leading players operating in the market are:

Mohawk Industries Inc.
Tarkett
Armstrong World Industries, Inc.
Shaw Industries, Inc.
Mannington Mills, Inc.
Beaulieu International Group

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