The latest research study “Laminate Flooring Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global laminate flooring market reached a volume of 1,010.3 Million Sq. Metres in 2021. Looking forward, IMARC Group expects the market to reach 1,222.4 Million Sq. Metres by 2027, exhibiting a CAGR of 3.13% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Laminate flooring refers to a synthetic product which consists of multiple layers fused with a lamination process. Its upper layer is made up of melamine and aluminum oxide which holds up scratches, dents, fading and stains, providing a moisture resistant surface to the flooring. In recent years, laminate flooring has gained popularity since it is relatively inexpensive than traditional hardwood flooring and can be installed on nearly any type of subfloor, like concrete or even pre-existing vinyl floors.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global laminate flooring market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on type and sector.
Breakup by Type:
- HDF Laminates
- MDF Laminates
At present, MDF, or medium density fiberboard, laminates represent the most popular type of laminate flooring, holding the majority of the global market share. It is similar to particle board and is made up of wood fibers that are glued together with an adhesive or resin under heat and pressure.
Breakup by Sector:
The report finds that the residential sector accounts for the majority of the total market share.
- Asia Pacific
- North America
- Latin America
- Middle East and Africa
Asia Pacific presently enjoys the leading position in the market. Laminate flooring has gained traction in the Asia Pacific region in recent years due to the rising population, and the consequent increase in the need for housing, in countries like India and China.
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The market is fragmented in nature due to the presence of several small and large manufacturers who compete against each other in terms of prices and quality. Some of the leading players operating in the market are:
- Mohawk Industries, Inc.
- Tarkett SA
- Armstrong World Industries, Inc.
- Shaw Industries, Inc.
- Mannington Mills, Inc.
- Beaulieu International Group
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