Wood and Laminate Flooring Market Size Worth $101.31 Billion By 2030 | CAGR: 5.8%

The global wood and laminate flooring market size is expected to reach USD 101.31 billion by 2030, according to a new study by Polaris Market Research. The report " Wood and Laminate Flooring Market Share, Size, Trends, Industry Analysis Report, By Product (Hard Flooring, Soft Flooring), By End-Use (Residential, Commercial, Industrial), By Type; By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Market growth is primarily due to the textural benefit of wood and laminate flooring is increasingly contributing to their sales among affluent consumers. A more affordable option for hardwood flooring without sacrificing elegance is flooring. This aspect is also anticipated to boost industry expansion.

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The market will rise more quickly during the forecast period due to reasons like increased usage in the commercial and residential sectors, rising preferences for wood-based floorings, and rising levels of investment in the construction of hotels and airports.

In the industry, natural wood, such as sawdust and wood shavings, is combined with plastic fibers. In addition to increasing durability, it increases moisture resistance. As well as the general properties of each component, the manufacturer's preference plays a significant role in material selection.

It is primarily used as a flooring material for balconies and terraces due to its lightweight. As a durable, antibacterial, non-corrosive material, it is widely used in kitchens, wall cladding, bathrooms, and false ceilings.

Wood and Laminate Flooring Market Report Highlights

• Laminate flooring segment is anticipated to grow at a lucrative CAGR over the forecast period owing to its durability and enhanced aesthetics.
• Soft flooring segment accounted for a significant revenue share. Soft flooring has a highly flexible layer which reduces footfalls and dampens the noise to a great extent compared to a typical hard floor. This will increase the higher demand and lead to more growth. Soft flooring includes vinyl, hardwood, and carpet that can be readily installed over more robust surfaces like PCC, marble, or vitrified flooring.
• Residential segment accounted for a significant revenue share. An increase in residential building floor replacement and renovation activities is anticipated to raise demand in the residential end-use market.
• Asia Pacific is expected to grow at a significant CAGR over the projected period on account of the increase in construction activities in the emerging economies, particularly India, and China.
• The global players include Westwood Flooring, Avant Flooring, Parkay Floors, Span Floors, EGO Flooring Private, Accord Flooring, Forbo Holding AG, Kronospan, Bauwerk Boen, and Greenlam Industries.

Polaris Market Research has segmented the wood and laminate flooring market report based on type, product, end-use, and region:

Wood and Laminate Flooring, Type Outlook (Revenue - USD Billion, 2018 - 2030)

• Laminate flooring
• Solid Hardwood flooring
• Composite wood flooring
• Parquet flooring
• Others

Wood and Laminate Flooring, Product Outlook (Revenue - USD Billion, 2018 - 2030)

• Hard Flooring
• Soft Flooring

Wood and Laminate Flooring, End-user Outlook (Revenue - USD Billion, 2018 - 2030)

• Residential
• Commercial
• Industrial

Wood and Laminate Flooring, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa