Pune, India, December 22, 2021 (GLOBE NEWSWIRE) – The world laminate flooring market size is expected to experience dynamic growth in the coming years due to the increasing number of residential buildings across the world, observes Fortune Business Insights â¢ in its report titled “Laminate Flooring Market, 2021-2028 â.
Over the years, there has been a rapid growth in the number of residential and commercial buildings across the world due to the increasing initiatives undertaken by the governments of various countries for the development of the construction industry. This has resulted in strong demand for laminate flooring in several regions which is expected to propel the growth of this market during the forecast period.
However, the change in price and the availability of raw materials are expected to hamper the growth of this market.
The report lists key companies in the Marlet:
- Tarkett SA
- Mohawk Industries Inc.
- Shaw Industries Group Inc.
- Armstrong Floor Inc.
- Beaulieu International Group.
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Market segmentation :
On the basis of type, this market is classified into High Density Fiberboard Laminate Flooring and Medium Density Fiberboard Laminate Flooring. Depending on the application, the market is divided into residential, commercial and industrial. In terms of geography, the market is clubbed in North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Highlights / Summary:
The report provides an exhaustive assessment of each market segment and also offers an in-depth analysis of market drivers, trends, opportunities, and hurdles. Further, the report contains a granular examination of regional developments impacting the market along with an in-depth assessment of the major market players and their key strategies.
Conductors / Holdbacks:
Increase in the number of hotels and cafes around the world to supply the market
With the increasing number of hotels, cafes and theaters around the world, there has been an increasing demand for laminate flooring that is cost effective and can give an attractive appearance to the interior of the hotel or cafe. Additionally, laminate flooring requires less maintenance and also has the ability to withstand heavy traffic. It is therefore a major factor responsible for the growth of this market in several regions.
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Increased rate of urbanization to drive growth of Asia-Pacific market
Asia-Pacific region is expected to experience substantial growth in laminate flooring market share due to increasing rate of urbanization and growing construction sector in countries such as India, China, Japan and others.
Europe is expected to experience steady growth in this market due to the increasing number of laminate flooring manufacturing companies in countries such as UK, Germany, France and others.
Increased investments by key players to stimulate competition
The leading companies in the laminate flooring market are focused on increasing their investment in the manufacture of laminate flooring due to the high demand for such flooring from the industry. construction. This has resulted in increased competition among key companies, which will help them expand their product portfolio and expand their market footprint.
Key Industry Development:
january 2018: Tarkett has invested $ 85.9 million to expand its luxury vinyl tile production capacity in Europe and North America. This investment was made to meet the growing demand for modular vinyl flooring in these regions.
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