The Global Market for Laminate Flooring is Projected to Reach 1.6 Billion Square Meters by 2020

Improving Construction Activity Drives Growth in the Global Laminate Flooring Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Laminate Flooring. The global market for Laminate Flooring is projected to reach 1.6 billion square meters by 2020, driven by improving construction activity, technological advancements and design innovations.

The flooring industry is currently witnessing growth supported by the reviving construction activity in both developed and developing markets. Growing disposable income, urbanization, better credit availability, and recovery in home prices are fuelling residential construction projects, while increase in commercial, industrial and business activity is benefiting non-residential construction activity. Since its development, laminate flooring has attracted significant attention on par with wood flooring. The cost-advantage over other types of flooring products is encouraging homeowners, real estate agents, and remodeling contractors to replace hardwood, stone, wood, and ceramic flooring with laminate flooring. Low installation and maintenance costs of laminate flooring when compared to alternative wood floors, is expected to emerge as the single most important factor driving sales of laminate flooring as an affordable luxury. Apart from their durability and aesthetic appeal, innovation and advancements in production and designing methods bode well for the market. Some of the advancements that have occurred over the past few years include mechanical locking systems, high definition printing for creating realistic visuals, and wear layer protection to ensure longer life of floor covering. Innovations such as specialty laminates including chemical resistant laminates, and custom-made colors and patterns are expected to boost demand patterns.

Rising environmental awareness and increasing demand for eco-friendly flooring are expected to benefit sales of laminate flooring. Laminate Flooring comprises bio-based components such as sawdust and wood chips but is not recognized as a natural material since it undergoes precise engineering unlike wooden or stone slabs. Over 90% of laminate material is bio-based and therefore qualifies as a green and eco-friendly flooring substitute. The advent of anti-bacterial flooring laminates meets the hygiene requirements of special areas including hospitals, kids’ rooms, kitchens, restrooms, offices and living rooms. This category of flooring laminate provides safer surroundings for users ensuring a germ-free environment.

As stated by the new market research report on Laminate Flooring, Europe represents the largest market worldwide. Latin America is forecast to record the fastest CAGR of 7.2% over the analysis period. The growth in the region is driven by steady economic growth, rising income levels, growing population and housing needs, robustly developing hospitality and retail sectors and rapid pace of industrialization.

Major players in the marketplace include Abet, Inc., Alsafloor SA, Armstrong World Industries, Inc., Bruce Flooring, Balterio Laminate Flooring, Beaulieu International Group, BerryAlloc, CLASSEN Group, EGGER Group, Faus Group, Inc., Formica Group, Greenply Industries Limited, Hamberger Industriewerke GmbH, Kaindl Flooring GmbH, Kronoflooring GmbH, KRONOTEX GmbH & Co KG, Mannington Mills, Inc., Mohawk Industries, Inc., Pergo, UNILIN, Robina Flooring Sdn Bhd, Shaw Industries, Inc., Skema Srl, Sonae Indústria SGPS, S.A, Tarkett USA, Inc., Uniboard Canada, Inc., and Windmöller Flooring Products WFP GmbH, among others.

The research report titled “Laminate Flooring: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of industry trends, growth drivers, restraints, end-use market analysis, market share, size and demand projections and forecasts. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, Netherlands, Turkey, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East, and Latin America (Brazil and Rest of Latin America). End-use segments analyzed in the report include New Housing Starts, Residential Replacement (including DIY Installation) and Commercial Sector. The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players.