Report Code: A12620 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Laminate Flooring Market
Request Now !Laminate flooring is a durable and strong solution for flooring, made of fiberboard and melamine resin material. It includes multi-layer structure, which includes a design layer, a dressing layer, a back layer, and a spinal layer. All layers are merged using high pressure and heat. It is easy to install, inexpensive, and requires lower maintenance, which is expected to boost the market growth. In addition, the topmost layer of laminate flooring uses aluminum oxide and melamine which provides moisture resistance . In addition, with assorted sizes, it is increasingly accepted to replicate various materials such as stone, tile, and wood.
COVID-19 Impact analysis.
Top Impacting Factors
Home renovation and remodeling activities are on the rise in all countries, as these projects are supported by programs run by various governments. For example, in Europe, National Energy Efficiency Action Plans (NEEAPs) aim to encourage investment in residential and commercial real estate. Leading Indicator of Remodeling Activity (LIRA) states that yearly profits from home remodeling and reorganization investing in the U.S. seem to rise to 6.3% by the end of the second quarter from 6% in the first quarter of 2018.
In addition, the house owners in the U.S. spent around $330 billion on home installations, upgrades, and general repairs, by 2018.This included installation of laminate flooring. Thus creating an opportunity for the growth of the laminate flooring market during the forecast period.
The rise in focus on home decoration and consumer lifestyles also enhance remodeling in the current environment. Currently, the trend toward the use of styles and interiors among consumers have motivated them to upgrade their homes by items such as rags, magazines, and carpets. that increase attractiveness of the home. This shift is supported by rise in income levels of consumers, change in lifestyle, and cultural acceptance, regarding interior decoration, which has also led to increased consumer interest in their homes and workplace interior decoration.
Market Trends
Key Benefits of the Report
Laminate Flooring Market Report Highlights
Aspects | Details |
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By Material |
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Key Market Players | TOLI Corporation,, Milliken & Company, Beaulieu International,, AFI Licensing LLC,, Gerflor,, Armstrong Flooring,, Mannington Mills, Inc.,, Shaw Industries Group, Inc.,, Tarkett SA,, Mohawk Industries, Inc.,, Forbo, |
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