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