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Written by sujeet rai » Updated on: May 10th, 2024
The global laminate flooring market size reached 1,080.2 Million Sq. Metres in 2023. Looking forward, IMARC Group expects the market to reach 1,369.3 Million Sq. Metres by 2032, exhibiting a growth rate (CAGR) of 2.6% during 2024-2032.
Laminate flooring is a type of synthetic flooring product designed to resemble the look of natural materials like wood or stone. It consists of multiple layers, including wear and a decorative layer with a printed design, a core layer made of high-density fiberboard (HDF), and a backing layer for stability. It comes in a wide range of designs, colors, and finishes, allowing homeowners to achieve the look of hardwood, stone, or tile without the expense or maintenance requirements of natural materials. It is known for its affordability, ease of installation, and low maintenance requirements. It is highly resistant to scratches, stains, and fading, which makes it suitable for high-traffic areas in homes and commercial spaces. It is used in living rooms, bedrooms, and dining rooms where a durable and attractive flooring option is desired. It is also utilized in commercial settings, such as retail stores, offices, and restaurants.
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At present, key players are investing in advanced manufacturing technologies to improve the quality and durability of laminate flooring, which includes enhanced embossing techniques for realistic wood textures, improved locking systems for easier installation, and better resistance to wear and tear. In addition, many key manufacturers are shifting towards using sustainable materials in their laminate flooring products, such as sourcing wood from responsibly managed forests, utilizing recycled materials, and reducing emissions during production processes, thereby bolstering the growth of the market. In line with this, key players are expanding their product lines to offer a wide range of designs, patterns, and colors to cater to diverse individual preferences. Furthermore, with the rising individual demand for flooring options suitable for moisture-prone areas, such as kitchens and bathrooms, several companies are developing waterproof and moisture-resistant laminate flooring solutions. Apart from this, key players are introducing innovative installation systems that simplify the installation process and reduce time and costs, which is propelling the market growth.
Top 6 Laminate Flooring Companies in the World
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