The market for wood and laminate flooring is expected to reach USD 64.8 billion in 2022 and USD 111.6 billion by 2032, with a CAGR of 5.6% over that period.
Around 19% of the total revenue made by the worldwide flooring market in 2021 came from the global wood and laminate flooring industry. The market for wood and laminate flooring is predicted to offer an absolute $ opportunity of USD 46.8 billion between 2022 and 2032.
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5 Key Insights from the Report
- In terms of sales, wood floorings are expected to outsell laminate floorings throughout the forecast period. By the end of 2026, more than 1,130 million sq. meters of wood floorings are expected to be sold globally.
- Commercial end-use of wood and laminate floorings is expected to register fastest volume growth during the forecast period. By the end of the forecast period, more than 880 million sq. meters of wood and laminate floorings will be used across commercial spaces. The end-use of wood and laminate floorings in residential settings is expected to account for more than one-third share of global market volumes throughout the forecast period.
- Through 2026, wood and laminate floorings are likely to be used predominantly for repair and rehabilitation activities. In 2017, more than 900 million sq. meters of wood and laminate floorings sold in the global market were used for repair and rehabilitation of physical spaces.
- Majority of wood and laminate floorings will be manufactured in the Asia-Pacific excluding Japan (APEJ) region. The report estimates that the APEJ region will represent highest contribution to the global wood and laminate flooring manufacturing over the forecast period.
- The report further reveals that Europe will be the largest market for wood and laminate floorings throughout the forecast period. By the end of 2026, nearly 790 million sq. meters of wood and laminate floorings are expected to be sold across European countries. Consumer preferences towards finished floorings at affordable prices is expected to drive the growth of Europe’s wood and laminate flooring market during the forecast period.
Competitive Landscape:
The global wood and laminate flooring market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced wood and laminate flooring.
Fact.MR has provided detailed information about price points of top manufacturers of wood and laminate flooring positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
Global Wood and Laminate Flooring Market Segments:
· By Product Type :
- Wood Flooring
- Laminate Flooring
· By End User :
- Residential
- Commercial
- Industrial
· By Construction Activity :
- Repair & Rehabilitation
- New Construction
· By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Questionnaire answered in the Market outlook Report of Wood and Laminate Flooring include:
- What is the key strategy deployed by large players to maximize Wood and Laminate Flooring growth?
- What are the main challenges faced by players in the Wood and Laminate Flooring Demand?
- With the advent of technological advancement, how will the Wood and Laminate Flooring landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Wood and Laminate Flooring size?
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