Global Laminate Flooring Market Fostered by Extensive Boom in the Construction Industry

Laminate flooring is a type of hybrid flooring product which comes with four layers that are fused together using the process of lamination. It is regarded versatile due to easy maintenance and requires no refinishing, waxing or polishing. Additionally, laminate flooring is durable and resistant to moisture, scratches, and wear and tear. Apart from this, laminate flooring is immensely popular amongst consumers on account of its aesthetic appeal and ability to replicate the designs of various surfaces like tile, wood, marble, 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 Preferred over MDF

On the basis of type, the laminate flooring market has been segregated as HDF and MDF laminate flooring. Amongst these, HDF laminate flooring exhibits a clear dominance, accounting for the majority of the total share which is followed by MDF. HDF is an engineered wood product which is considered as a high density fibreboard, making it an ideal stabilising material for laminate flooring. HDF laminate flooring is made from pulped wood waste and chips. On the other hand, MDF flooring is a medium density fibreboard which appears identical to the particle board but encompasses a greater density. It is made using wood wastage fibre that are stuck together using a resin or an adhesive. In high humid conditions like washrooms, MDF does not swell, thereby making it suitable core layer material in laminate flooring.

Demand Emerging from Commercial Sector

Based on sector, the market has been segmented as commercial and residential. Currently, commercial sector dominates the market, holding the majority of the total market share. Laminate flooring is extensively used in the commercial sector for the flooring of showrooms, hotels, retail outlets and corporate offices. The surging demand for wood-based flooring coupled with increasing investments from the real estate sector has proliferated the growth of global laminate flooring market. Additionally, the increasing demand from the residential sector, particularly in the developing regions, has further influenced the market. Laminate flooring has the ability to sustain high traffic which makes it an appropriate flooring option for families with children and pets.

Asia Pacific: The Leading Market

Some of the major markets include Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. Amongst these, Asia Pacific is the leading market for laminate flooring owing to the thriving construction sector in the region. Apart from this, the market is witnessing a growth which is supported by new and innovative product offerings by the manufacturers so as to expand their consumer-base and profit margins.

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Created on Aug 29th 2018 01:43. Viewed 459 times.

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