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Wood and Laminate Flooring Market

Wood and Laminate Flooring Market

Wood and Laminate Flooring Market Analysis by Product Type (Wood Flooring, Laminate Flooring), by Construction Activity (Repair & Rehabilitation, New Construction), by End user, by Region - Global Forecast 2022-2032

Wood and Laminate Flooring Market
FACT482MR

Global Wood and Laminate Flooring Market Snapshot

The global wood and laminate flooring market is estimated at USD 64.8 Billion in 2022 and is forecast to surpass USD 111.6 Billion by 2032, growing at a CAGR of 5.6% during 2022-2032.

Report Attributes

Details

Base Year Value (2021A)

USD 64.2 Billion

Estimated Year Value (2022E)

USD 64.8 Billion

Forecast Year Value (2032F)

USD 111.6 Billion

Global Growth Rate (2022-2032)

CAGR 5.6%

South Asia & Oceania Market Share in 2021

~23.1%

South Asia & Oceania Growth Rate (2022-2032)

CAGR 5.3%

Top 5 Companies Market Share in 2021

~41%

Key Companies Profiled

  • Tarkett, Mannington Mills Inc.
  • Mohawk Group
  • Abet Inc.
  • Berkshire Hathaway Inc.
  • Goodfellow Inc.
  • Forbo Holding AG
  • Armstrong Flooring
  • Kronospan Limited
  • Kahrs Holding AB
  • Bauwerk-Boen

The global wood and laminate flooring market contributed by providing around ~19% of the total revenue generated by global flooring market in 2021. The wood and laminate flooring business is estimated to provide an absolute $ opportunity of USD 46.8 Billion during the assessment period of 2022-2032.

Increasing role of floorings in boosting the physical appearance of homes and other spaces has driven the demand for wood-based floorings and laminate floorings.

Low price point and installation convenience of wood and laminate floorings is driving the adoption across the construction industry. Hybrid laminate materials and composite woods are being used to develop advanced floorings.

In addition, textural advantage of wood and laminate floorings is becoming a key factor fuelling their sales among upscale consumer community.

According to a recent study published by Fact.MR, the global market for wood and laminate floorings will expand steadily during the forecast period, 2022-2032. Moreover, by the end of 2026, over 2,130 million sq. meters of wood and laminate floorings are expected to be sold across the globe in 2022.

Wood and Laminate Flooring Market Historical Overview (2017-2021) Vs. Forecast Outlook (2022-2032)

  • South Asia & Oceania wood and laminate flooring market have been generating maximum revenue for wood and laminate flooring manufacturers from past half-decade. Around 23.1% of overall market valuation for wood and laminate flooring was generated by Asian countries in 2021 which is forecast to surpass valuation of USD 29.4 Billion by 2032 end, growing with 5.3% CAGR. Wood and laminate flooring business in India generated around 35.8% share of total business in 2021 and is projected to grow with exciting CAGR of 5.5% during 2022-2032.
  • This market grew with CAGR of 3.9% with an absolute $ opportunity of USD 21.4 Billion during 2017-2021.
  • Wood flooring segment held the maximum market share ~68.5% in 2021 and is expected to gain 370 BPS within the forecast period by contributing the market with share of ~72.6% by end of 2032 that is around USD 81.0 Billion.
  • Under end use for wood and laminate flooring, its commercial use is estimated to hold market share of ~42.9% in 2022 and is likely to provide an absolute $ opportunity of USD 23 Billion by reaching a market valuation of USD 50.9 Billion in 2032.

Region-wise Insights

How South Asia & Oceania is projected to Witness Highest Growth for Market of Wood and Laminate Floorings during the Forecast Period?

The South Asia & Oceania wood and laminate flooring market is expected to provide maximum absolute $ opportunity to its manufacturers comprehended by the availability of strong supply chain networks of wood and laminate flooring manufacturers in this region.

Despite of the fact that wood and laminate floorings have been used across construction activities in Asian region but their adoption in repair and rehabilitation is all set to provide lucrative opportunities to wood and laminate flooring manufacturers.

The report further reveals that India will be the largest adopter of wood and laminate floorings through 2026 whereas Japan to witness highest growth rate of 6.3% during 2022-2032.

Thus, India wood and laminate flooring market is estimated at USD 5.2 Billion in 2022 and is forecast to surpass market valuation of USD 10.5 Billion by end of 2032, growing at an exciting rate of 5.5% during the forecast period.

In addition, South Asia & Oceania wood and laminate flooring market is forecast to surpass USD 29.4 Billion in 2032 out of which ~43% share is projected to be generated through India and Japan wood and laminate flooring markets during the same year.

Wood and Laminate Flooring Market forecast analysis by Fact.MR

Category-wise Insights

Why Demand for Wood Floorings is expected to outpace the Adoption of Laminate Floorings?

The report has estimated that during the forecast period, sales of wood floorings will gain highest traction.

By the end of 2026, more than 1,130 million sq. meters of wood floorings are expected to be sold across the globe. On the other hand, laminate floorings will register a steady volume CAGR of 5.6% during the forecast period.

Moreover, through 2026, the residential end-use of wood and laminate floorings is estimated to account for more than 1/3rd share on global market volumes. Also, commercial end-use of wood and laminate flooring is expected to gain traction, reflecting highest volume CAGR of 5.9% over the forecast period.

Comprehending the aforementioned factors, wood flooring segment in product type of wood and laminate flooring is projected to grow at 5.8% CAGR during 2022-2032 and is estimated to value around USD 50.9 Billion in 2022. This segment is projected to cover share around ~68.9% market valuation for wood and laminate flooring by 2022 and is forecast to surpass market value of USD 81.0 Billion by 2032 end.

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Competitive Landscape: Top Companies in Wood and Laminate Flooring Market

The global wood and laminate flooring market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced wood and laminate flooring.

Fact.MR has provided detailed information about price points of top manufacturers of wood and laminate flooring positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

Global Wood and Laminate Flooring Market Segments

  • By Product Type :

    • Wood Flooring
    • Laminate Flooring
  • By End User :

    • Residential
    • Commercial
    • Industrial
  • By Construction Activity :

    • Repair & Rehabilitation
    • New Construction
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

The global value of wood and laminate flooring market is estimated to be worth over USD 64.8 Billion in 2022.
Value of wood and laminate flooring market in 2032 is forecast to surpass USD 111.6 Billion by 2032 end.
During 2017-2021, global wood and laminate flooring market grew at 3.9% CAGR.
Wood flooring segment is estimated to provide an absolute $ opportunity of USD 36 Billion during the forecast period (2022-2032).
South Asia and Oceania topped the global wood and laminate flooring market by accounting around ~23.1% of its total market valuation in 2021.

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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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