Laminate Flooring Market 2021, Industry Analysis, Share, Size, Growth and Research Report

According to the latest report by IMARC Group, titled “Laminate Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global laminate flooring market size reached US$ 27.4 Billion in 2020. Looking forward, the market expects to grow at a CAGR of 5.3% during 2021-2026.

Laminate flooring refers to a durable and versatile flooring solution made of melamine resin and fiberboard materials. It is composed of four layers, namely wear layer, design layer, core layer and back layer, which are fused using intense heat and pressure. 

Nowadays, laminate flooring is available in a wide variety of colors and designs, which enhance its aesthetic appeal among users. As it resists staining, scratching, denting and fading, laminate flooring has gained preference as a flooring material over the years.

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Global Laminate Flooring Market Trends:

Laminate flooring offers ease of installation, reduces the requirement for skilled labor and is a relatively inexpensive option as compared to engineered wood, solid hardwood, and stone floor coverings. It can even replicate stone, tiles as well as wood patterns. Besides these advantages, the rising population and improving standards of living have led to a rise in the demand for modern housing, particularly in emerging nations, which has significantly contributed to the growth of the market. 

Apart from this, substantial investments in the real estate sector, mounting construction activities, and the escalating demand for wood-based flooring materials have proliferated the growth of the market globally. Moreover, manufacturers are introducing laminate flooring with advanced features, such as custom prints and designs, better wear layers, enhanced locking mechanisms, high-quality visuals and improved chemical resistance. 

Competitive Landscape

The competitive landscape of the market has also been examined, with some of the key players being Mohawk Industries Inc., Tarkett S.A., Armstrong World Industries, Inc., Shaw Industries Group, Inc., Mannington Mills, Inc. and Beaulieu International Group.

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Market Summary:

Market Breakup by Key Types:

1. HDF Laminates

2. MDF Laminates

Based on the types, the market has been bifurcated into high density fiberboard (HDF) and medium density fiberboard (MDF) laminates. At present, the MDF laminate is the most popular product type. 

On the basis of the sector, the commercial sector dominates the market, holding the largest market share, followed by the residential sector.

Market Breakup by Sector:

1. Residential

2. Commercial

Breakup by Region

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• Latin America

Region-wise, Asia Pacific accounts for the majority of the market share. Other major regions include North America, Europe, Middle East and Africa, and Latin America.

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