San Jose, California (PRWEB) October 29, 2013
Follow us on LinkedIn – Laminate flooring has found widespread acceptance among consumers across the world, due primarily to its ease of installation and maintenance, and its cost-advantage over other types of flooring products such as stone, wood, ceramics and vinyl. Laminate flooring also derives benefits owing to its eco-friendly flooring attribute. Apart from their durability and aesthetic appeal, constant innovations and advancements in production and designing methods bode well for market growth. Some of the advancements that have occurred over the past few years include mechanical locking systems, high definition printing for creating realistic visuals, and wear layer protection to ensure longer life of floor covering. All of these improvements are driving consumers, in particular DIYers, to move towards laminate flooring. The DIY segment of the laminate flooring market is expected to witness healthy growth, driven by consumers’ growing desire to optimize returns on their investments. Rebound in residential and commercial construction sectors is expected to stimulate sales in the global market. Revival of the new residential construction from the lows seen in the past few years is expected to infuse new demand for various types of flooring, including laminate flooring. While in developed countries, demand will be fostered by the rise in housing construction activity, in developing economies, increase in commercial building construction spending is expected to provide opportunities for market growth.
As stated by the new market research report on Laminate Flooring, Europe represents the largest market worldwide. Though the market is impacted by the economic uncertainty and slowdown in construction activity, long-term growth will be driven by consumer demand for eco-friendly and high-quality flooring options. Latin America is forecast to post the fastest CAGR of 8.0% over the analysis period. Asia-Pacific, another fast-growing regional market, is expected to experience robust growth in the upcoming years, driven by the launch of advanced products, particularly those with improved moisture resistance capabilities, and development of glueless laminates. Though the market is still in a nascent stage compared to the well-established markets of the West, potential is high given the continuous rise in demand for low-cost flooring options, particularly in emerging economies such as China and India.
Residential replacement including DIY installation) represents the largest end-use market for laminate flooring. Improvement in the economic climate, increase in home renovations will help bolster demand for floor replacements and laminate flooring. Fastest growth in demand for laminate flooring is expected from new housing starts. Laminate flooring is also finding increased acceptance in the commercial sector as well as in institutional buildings such as educational institutes, healthcare facilities, and religious units, due primarily to its easy cleaning, cost-effective and hypoallergenic characteristics.
Major players covered in the report include Abet Inc., Alsafloor SA, Armstrong World Industries Inc., Balterio Laminate Flooring, Beaulieu International Group, CLASSEN Group, EGGER Group, Faus Group Inc., Formica Group, Hamberger Industriewerke GmbH, Kronoflooring GmbH, KRONOTEX GmbH & Co KG, Mannington Mills Inc., Mohawk Industries Inc., Robina Flooring Sdn Bhd, Shaw Industries Inc., Skema Srl, Sonae Indústria SGPS S.A, Tarkett USA Inc., Uniboard Canada Inc., and Witex Flooring Products GmbH, among others.
The research report titled “Laminate Flooring: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Turkey , Netherlands, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East, and Latin America (Brazil and Rest of Latin America). End-use segments analyzed in the report include New Housing Starts, Residential Replacement (including DIY Installation) and Commercial Sector.
For more details about this comprehensive market research report, please visit:
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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