Laminate flooring refers to a type of floor covering in which several layers are fused together in a single press operation. It is a versatile, easy to maintain flooring and does not need to be refinished, polished and waxed. Laminate flooring is durable; easy to clean; and resistant to scratches, moisture, and wear and tear. Apart from its low installation and maintenance costs, laminate flooring has become increasingly popular due to its aesthetic appeal and ability to replicate different flooring materials such as wood, marble, tiles, etc. According to IMARC Group, the global laminate flooring market reached a volume of more than 968 Million Sq. Metres in 2017, exhibiting a CAGR of 3% during 2010-2017.
HDF Laminate Flooring: Most Popular Product Type
Based on type, the market has been segregated as HDF and MDF laminate flooring. Currently, HDF laminate flooring is the most popular product type, accounting for the majority of the total share.
• HDF
HDF refers to high density fibreboard which is a type of engineered wood product. It is a much harder and denser board made from wood fibre which are extracted from pulped wood waste and chips. The higher density of HDF makes it an ideal stabilizing material for laminate flooring.
• MDF
MDF refers to medium density fibreboard which is similar to particle board but has a greater density. It is made up of wood wastage fibres which are glued together with an adhesive or resin under heat and pressure. It does not swell easily in areas with high humidity such as washrooms which makes it suitable for use as a core layer material in laminate flooring.
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Commercial application represents the largest segment
On the basis of sector, the market has been segmented into commercial and residential sectors. Amongst these, the commercial sector represents the leading segment, accounting for the majority of the global share.
• Commercial
On account of high demand for laminate flooring from five-star hotels, showrooms, retail outlets and corporate offices, the demand for laminate flooring in the commercial sector has increased significantly. Moreover, rising preference for the wood-based floorings and increasing investments in the commercial real estate sector has fuelled the market growth globally.
• Residential
The rising demand for residential constructions and reconstruction activities, particularly in emerging nations, has influenced the growth of the residential laminate flooring market. Moreover, laminate flooring can sustain high traffic which makes it suitable for families with children and pets.
Asia Pacific dominates the market
Asia Pacific represents the leading market for laminate flooring on account of a surge in the construction activities in the region. The market growth is further supported by new and innovative product offerings by the manufacturers so as to increase their consumer-base. Other major regions are Latin America, North America, Europe, and Middle East and Africa.
Some of the key manufacturers of the global laminate flooring market are Tarkett, Mohawk Industries Inc., Shaw Industries, Inc., Armstrong World Industries, Inc., Beaulieu International Group and Mannington Mills, Inc.
About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the laminate flooring industry, which has enabled the clients to successfully set up and expand their businesses. Some of the company’s offerings include:
• Market Research
• Plant setup
• Plant Expansion
• Marketing and sales
• Procurement and Distribution
• Innovation and Product Development
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