The new report by Expert Market Research titled, ‘Global Laminate Flooring Market Size, Share, Price, Growth, Report and Forecast 2020-2025′, gives an in-depth analysis of the global laminate flooring market, assessing the market based on its segments like types, sectors, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
- Historical Market Size (2019): 975.2 million sq. metres
- Forecast CAGR (2020-2025): 1.8%
- Forecast Market Size (2025): 1085.4 million sq. metres
The rising demand for aesthetically-pleasing and modern designs is driving the global laminate flooring market due to its versatility and easy installation. It offers a low-cost alternative to substances such as engineered wood, stone, and solid hardwood. The ability to customise prints and designs combined with advancements in print and designing technologies that allow for high-quality visuals is expected to further stimulate growth of the market. This, aided by the increase in construction activities and investments in the real-estate market, is forecast to lead to steady growth of the global laminate flooring market.
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Industry Definition and Major Segments
Laminate flooring refers to a multi-layered, synthetically-produced flooring product. The process of fusing together these multiple layers is known as lamination. Laminated flooring can imitate wooden and stone surfaces by using an applique layer. The innermost layers of laminates are composed of melamine resin and fibreboard.
The types of products available in the market include:
- HDF Laminates
- MDF Laminates
By sector, laminate flooring is classified as:
The Asia Pacific region is expected to be the largest market during the forecast period. Other regions include:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Apart from its low costs and easy installation process, laminate flooring is also becoming increasingly popular due to its easy maintenance and hygienic properties. Mohawk Industries, Inc. (NYSE: MHK) is the global leader in flooring manufacturers. The company raised USD 84 million on August 6th, 2020, in market capital, a strong indicator of the bullish view of this market, of which the laminate flooring market is a subsidiary. AFI Licensing LLC (NYSE: AFI), also known as Armstrong Flooring Inc, was granted a trademark from the United States Patent and Trademark Office in 2018 titles as “NATURAL PERSONALITY” for their new laminate flooring product line. The company also has a patent-pending for increased abrasion resistance in wooden substrates. The continued R&D investments in the laminated flooring industry are expected to drive growth in the global market.
Key Market Players
The major players in the market are Mohawk Industries, Inc. (NYSE: MHK), Tarkett SA (EPA: TKTT), AFI Licensing LLC, Shaw Industries Group, Inc., and Mannington Mills, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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North America Laminate Flooring Market: https://www.expertmarketresearch.com/reports/north-america-laminate-flooring-market
North America Vinyl Flooring Market: https://www.expertmarketresearch.com/reports/north-america-vinyl-flooring-market
Flooring Market: https://www.expertmarketresearch.com/reports/flooring-market
Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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