According to a new market report published by Lucintel, the future of the global wood and laminate flooring market looks promising with opportunities in the residential and commercial construction market. The global wood and laminate flooring market is expected to reach an estimated $30.9 billion by 2021 and it is forecast to grow at a CAGR of 4.2% from 2016 to 2021. The major drivers of growth for this market are increases in new construction and renovation activities.
In this market, residential and commercial are the market segments by application type. Residential flooring is the major segment by application type of global wood and laminate market, as the acceptance of laminate flooring in residential buildings is increasing. On the basis of its comprehensive research, Lucintel forecasts that the residential segment is expected to show above average growth during the forecast period.
Within this market, laminate is expected to remain the largest segment. The major factors that will spur growth for this segment during the forecast period are the availability of variety of textures and designs at low prices as compared to wood flooring, and technological advancements like digital printing.
Europe is expected to remain the largest market because most of the European region has a a cold climate and wood and laminate flooring helps to maintain warmth in the room. Thus, people mostly prefer wood and laminate flooring in this region.
Asia Pacific is expected to witness significant growth over the forecast period because of increasing construction activities in the region.
For business expansion, Lucintel’s report suggests innovation and new product development to make the installation process easier and to provide a variety of designs to the customer.
Emerging trends which have a direct impact on the dynamics of the industry include the introduction of aqua+ technology in laminate flooring, increasing acceptance of wider planks, and introduction of digital printing in wood and laminate flooring. Mohawk Industries, Inc., Shaw Industries, Beaulieu International Group, Armstrong World Industries Inc., and Tarkett are the major wood and laminate flooring suppliers in the global wood and laminate flooring market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global wood and laminate flooring market by product type, by application, and region, and has compiled a comprehensive research report entitled, “Growth Opportunities in Global Wood and Laminate Flooring Market 2016-2021: Trends, Forecast, and Market Analysis.” This Lucintel report serves as a springboard for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities in the global wood and laminate flooring market by product type, application type, and region, as follows:
By Product [Volume (million square meters) and $ million from 2010 to 2021]:
By Application [$ million from 2010 to 2021]:
By Region [Volume (million square meters) and $ million from 2010 to 2021]:
- North America
- Asia Pacific
- Rest of the World
This 211-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Construction Market Report, Construction Reports, Capital Investment Analysis, Strategic Growth Consulting and Due Diligence.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high-growth opportunities for the wood and laminate flooring market by application (residential, commercial), product (wood, laminate), and region (North America, Europe, APAC and Rest of the World)?
Q. 2. Which segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are emerging trends in this market and reasons behind them?
Q.7. What are some changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are taken by key players for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by materials / product substitution?
Q.11. What M & A activity has occurred in the last 5 years and what is its impact on the industry?