Global Value of Wood and Laminate Flooring Market Is Estimated To Be Worth over USD 64.8 Billion In 2022

Wood and laminate flooring play an important role in improving the physical look of built areas such as houses, apartments, restaurants, and businesses. The popularity of wood and laminate flooring continues to grow due to its low cost and minimal care requirements. Fact.MR's forecast report provides in-depth analysis of the worldwide wood and laminate flooring market's growth from 2017 to 2026. According to the survey, the worldwide wood and laminate flooring industry would be worth US$ 8.8 billion by the end of 2026. The worldwide market for wood and laminate floorings is predicted to grow at a CAGR of 4.8% in terms of volume over the forecast period.

 

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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.

 

The report has profiled leading manufacturers of wood and laminate floorings, which include Tarkett, Mohawk Group, Mannington Mills, Inc., Berkshire Hathaway Inc., Abet Inc., Forbo Holding AG, Goodfellow Inc., Kronospan Limited, Armstrong Flooring, Bauwerk-Boen, and Kahrs Holding AB. These companies are expected to remain active in the expansion of the global wood and laminate flooring market through 2026. In the foreseeable future, majority of wood and laminate flooring manufacturers will focus upon increasing the durability of these floorings by using hybrid laminate materials and composite woods.

 

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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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Competitive Landscape: Top Companies in Wood and Laminate Flooring Market

 

Because of the presence of several local and regional companies, the worldwide wood and laminate flooring industry is extremely fragmented and competitive. Key players use a variety of marketing techniques, including mergers & acquisitions, expansions, collaborations, and partnerships.

 

In addition, prominent organisations use new product creation as a strategic way to increase their market presence among customers. As a result of these techniques, upgraded wood and laminate floors have been introduced.

 

In a newly published analysis, Fact.MR provides thorough information on the pricing points of leading producers of wood and laminate flooring positioned across regions, sales growth, manufacturing capacity, and speculative technical advancement.

* This article was originally published here