Laminate Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Laminate Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global laminate flooring market size reached 1,049 Million Sq. Metres in 2022. Looking forward, IMARC Group expects the market to reach 1,252 Million Sq. Metres by 2028, exhibiting a growth rate (CAGR) of 2.9% during 2023-2028.

Laminate flooring refers to a multi-layer synthetic flooring product, that is made up of the wear, design, core and back layers sealed together using the lamination process. The upper layer usually comprises melamine and aluminum oxide that aid in providing the laminate board a scratch and moisture resistant surface. In comparison to engineered wood, solid hardwood, and stone floor coverings, laminate flooring is inexpensive and easy to install as well as maintain. As it is available in varying widths, lengths and thickness, and can replicate different surfaces including wood, stones and tiles, the demand for laminate flooring is increasing across the globe.

One of the major factors driving the market growth is the rise in construction activities across the globe. On account of the growing population, rapid urbanization, recovery of the global economy, inflating incomes levels and improving standards of living, a rise in the demand for housing has been witnessed in recent years, especially in developing economies like Brazil and China. This has further led to an increase in the need for modern flooring materials like laminate flooring which offer durability, scratch and stain resistance. As opposed to the other flooring materials, laminate flooring offers ease of installation which reduces the requirement of skilled labor. Apart from this, advancements in the designing and printing technologies and the introduction of innovative product designs by manufacturers are stimulating the demand for laminate flooring across the globe.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global laminate flooring market report, along with forecasts at the global and regional level from 2023-2028. 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:

Residential
Commercial

The report finds that the residential sector accounts for the majority of the total market share. 

Regional Insights:

Asia Pacific
North America
Europe
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.

Competitive Landscape:

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

Key Questions Answered in This Report:

How has the global laminate flooring market performed so far and how will it perform in the coming years?
What are the major regional markets?
What has been the impact of COVID-19 on the global laminate flooring market?
What are the key products types in the market?
What are the various end use sectors in the market?
What are the price trends of laminate flooring?
What are the various stages in the value chain of the global laminate flooring industry?
What are the key driving factors and challenges in the global laminate flooring industry?
What is the structure of the global laminate flooring industry and who are the key players?
What is the degree of competition in the global laminate flooring industry?
What are the profit margins in the global laminate flooring industry?
What are the key requirements for setting up a laminate flooring manufacturing plant?
How is laminate flooring manufactured?
What are the various unit operations involved in a laminate flooring manufacturing plant?
What is the total size of land required for setting up a laminate flooring manufacturing plant?
What are the machinery requirements for setting up a laminate flooring manufacturing plant?
What are the raw material requirements for setting up a laminate flooring manufacturing plant?
What are the packaging requirements for laminate flooring?
What are the transportation requirements for laminate flooring?
What are the utility requirements for setting up a laminate flooring manufacturing plant?
What are the manpower requirements for setting up a laminate flooring manufacturing plant?
What are the infrastructure costs for setting up a laminate flooring manufacturing plant?
What are the capital costs for setting up a laminate flooring manufacturing plant?
What are the operating costs for setting up a laminate flooring manufacturing plant?
What will be the income and expenditures for a laminate flooring manufacturing plant?
What is the time required to break-even?