Global Laminate Flooring Market to Reach 1.92 Billion Square Meters by 2017, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on laminate flooring markets. The global market for laminate flooring is forecast to reach over 1.92 billion square meters by the year 2017, driven by escalation in new housing starts and residential replacements, inclusive of the burgeoning DIY consumer market. Intrinsic cost-to-value benefits of laminate flooring, in addition to high durability, innovative designs and superior finish makes it one of the most sought after flooring types in the market today. Recovery in the global floor coverings market post recession is expected to brighten growth prospects for the laminate floorings market as well, with sales steadily picking up. Asia-Pacific, driven by tremendous demand from China and India, is set to witness continued increments over the next decade.
San Jose, CA (PRWEB) October 04, 2011
Follow us on LinkedIn – The worldwide laminate flooring market registered a phenomenal change over the last few years, led by developments in printing technology, high resolution scanning and finishes that are mirror images of real wood/timber. The market has made significant inroads into the global floor coverings market worldwide over the last decade or so, taking over from other hard surface flooring varieties. The floor coverings industry is witnessing a continuous shift away from vinyl, hardwood and ceramic flooring to laminate flooring. Performance of laminate floorings was instrumental in underpinning strong growth in the overall market for hard surface floorings in the recent years. Increasing concern for environmental protection among consumers and rising preferences for high-end products are the main contributors to the above-average growth in the market. Laminates with close resemblance to wood, and advantageous features of durability, beauty and novel designs capable of replicating granite and stone, are creating myriad decorating possibilities for residential and commercial interiors. Residential replacements (including DIY.) and new housing starts constitute two of the largest end-use segments for laminate flooring. Laminate flooring usage in the DIY installation sector expanded appreciably in the recent past, and is likely to continue in the future. Accelerated growth is projected from the transportation sector, comprising of floor covering applications in operator compartments of industrial equipment.
Realistic finishes and designs have helped in keeping laminate flooring one step ahead of other conventional flooring options including timber and carpet. In addition, technological advancements, resistant surfaces, quick fixing and wide variety of designs have lent a big hand in popularizing laminate flooring. Laminate flooring designers are rolling out unique designs ranging from floral motifs to graffiti to logos and even maps. Handscraped and distressed design laminates are currently the most popular designs in the global laminates industry. The pored structure concrete look is another emerging laminate design, which is finding increasing number of takers. Akin to several other industries that embraced the Ã¢ËœGreenÃ¢ concept, the laminate floorings industry has also been investing in R&D for greener products, anticipating that the green movement might have a positive impact on consumersÃ¢ flooring choices.
Laminate floorings market was severely challenged by the recent global financial crisis, resulting in decelerated growth and low sales. Since the laminate industry echoes the construction sector, a steep decline in commercial and residential construction sharply slowed down the laminate flooring industry during 2008 and 2009. In the milieu, product innovations and robust brand performance gained high credence, with a host of laminate producers investing heavily in the direction. The trend also cascaded down to the retailers, particularly in Europe, as was seen through their efforts for making the best of the slowdown period by remodeling stores and investing in brand promotions. Despite gradual market recovery, unit sales rebounded faster while laminate revenues remained flat in 2010, compared to the previous year(s). The lackluster performance was mainly on account of the drastic fall in wood prices and increasing popularity of luxury vinyl tiles.
Europe is the largest worldwide market for laminate floorings, with Western European markets of Germany, UK, France and Netherlands dominating the production scenario, as stated by the new research report on Laminate Floorings. Some of emerging markets in Eastern Europe that gained considerable traction in the last few years include Romania, Russia and Poland, among others. The Asian market, driven by rapidly developing markets of China and India, is forecast to surge ahead at a robust CAGR of over 12% through 2017. The Asian market is expected to tremendously benefit from ChinaÃ¢s increasing strength as the worldÃ¢s largest market for floor coverings (in terms of area). The region is also expected to gain from rapid development in some of the low cost, high volume markets of Vietnam, Thailand, Malaysia and others.
Key market participants profiled in the report include, Abet, Inc, Alsafloor SA, Armstrong World Industries, Inc, Balterio Laminate Flooring, Beaulieu International Group, BHK of America, Inc, Bruce Flooring, Egger Retail Products GmbH, Formica Corporation, Kaindl Flooring GmbH, Kronotex GmbH & Co KG, Mohawk Industries, Inc, Pfleiderer AG, Pergo AB, Roysol SA, Shaw Industries, Inc., Skema Srl., among several others.
The research report titled Ã¢Å“Laminate Flooring: A Global Strategic Business ReportÃ¢ announced by Global Industry Analysts, Inc., provides a comprehensive review of industry overview, trends and issues, growth drivers, competitive scenario, product overview, product launches, recent industry activity and profiles of market players worldwide. Analysis and overview is provided for major geographic markets such as US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin America. Market analytics are provided in unit (square meters) terms. Key end-use segments analyzed in the report include, New Housing Starts, Residential Replacement (including DIY Inst.) and Commercial Markets. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.
For more details about this comprehensive market research report, please visit Ã¢“
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.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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