North America Laminate Flooring Market Overview
According to SPER Market Research, the North America Laminate Flooring Market is estimated to reach USD XX billion by 2032 with a CAGR of 3.75%.
Laminate flooring is a type of synthetic floor covering that imitates the appearance of stone or wood. It is composed of fiberboard particles, resins, and aluminum oxide, and offers several advantages, such as affordability, versatility, durability, eco-friendliness, and ease of installation. These qualities make it a popular choice for construction projects in residential, commercial, and industrial settings. North America is a notable market for laminate flooring due to the elevated number of renovation projects in the region. Furthermore, numerous initiatives are underway to restore educational and public buildings, leading to a surge in sales of laminate flooring. As environmental concerns grow regarding the use of timber and new technological advancements emerge, the demand for laminate flooring is expected to continue to increase in the coming years.
Exploring the Growth Drivers of the North America Laminate Flooring Industry
Laminate flooring is becoming increasingly popular in North America, and there are several key factors that are likely to drive the growth of the laminate flooring market in the coming years with a CAGR of 3.75 %, one reason is that more and more people are renovating their homes, and laminate flooring is an affordable and easy-to-install option for those looking to upgrade their floors. Additionally, there are initiatives underway to restore and improve public buildings, such as schools and government offices, which is boosting the demand for laminate flooring. Concern for the environment is another factor driving the growth of the North American laminate flooring industry. Many people are becoming more aware of the negative impact of using timber and are looking for alternative flooring materials. Laminate flooring is an environmentally friendly option because it is made from recycled materials and is less damaging to the environment than other flooring options.
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What challenges does the North America Laminate Flooring Market face?
While the North American laminate flooring industry is experiencing growth, there are also challenges that it faces. One of the challenges is competition from other types of flooring materials, such as hardwood, vinyl, and tile. These materials have been popular for many years, and some people may still prefer them over laminate flooring. Another challenge is the difficulty of disposing of laminate flooring once it reaches the end of its useful life. While laminate flooring is eco-friendly in its production, it can be difficult to recycle or dispose of in an environmentally friendly way. This creates a challenge for the industry to find ways to dispose of laminate flooring responsibly.
Finally, fluctuations in raw material prices can also create challenges for the industry. The cost of raw materials used in laminate flooring can vary depending on market conditions, which can impact the profitability of manufacturers and distributors.
In what ways has the COVID-19 pandemic affected North America Laminate Flooring Market?
The COVID-19 pandemic has had a significant impact on the North American laminate flooring market. One effect of the pandemic was a slowdown in construction activities, which impacted the demand for laminate flooring in the region. Many construction projects were delayed or cancelled due to the pandemic, which led to a decrease in demand for laminate flooring. Another impact of the pandemic was the shift towards remote work and virtual learning, which led to changes in the way people use their homes. This change in behaviour has led to an increase in demand for home improvement projects, including flooring upgrades. As a result, while the pandemic initially led to a decrease in demand for laminate flooring, it has since rebounded as people spend more time at home and seek to improve their living spaces.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type, By Sector
|
| Regions covered | Canada, United States, Mexico, Rest of North America
|
| Companies Covered | Armstrong Flooring Inc., Beaulieu, Floorcraft, Formica Group, Mannington Mills, Mohawk Industries, Pergo, Richmond, Shaw Industries, Tarkett, Others
|
Key Target Audience:
- Homeowners
- Contractors
- Builders
- Architects
- Interior designers
- Retailers
- Educational institutions
- Healthcare facilities
- Office spaces
North America Laminate Flooring Market Segmentation:
1. By Type:
- High-density Fiberboard Laminates
- Medium-density Fiberboard Laminates
2. By Sector:
3. By Region:
- United States
- Canada
- Mexico
- Rest of North America
Key Topics Covered in the Report:
- North America Laminate Flooring Market Size (FY’2019-FY’2032)
- Overview of North America Laminate Flooring Market
- Segmentation of North America Laminate Flooring Market By Type (High-density Fiberboard Laminates, Medium-density Fiberboard Laminates)
- Segmentation of North America Laminate Flooring Market By Sector (Residential, Commercial)
- Statistical Snap of North America Laminate Flooring Market
- Growth Analysis of North America Laminate Flooring Market
- Problems and Challenges in North America Laminate Flooring Market
- Competitive Landscape in the North America Laminate Flooring Market
- Impact of COVID-19 and Demonetization on North America Laminate Flooring Market
- Details on Recent Investment in North America Laminate Flooring Market
- Competitive Analysis of North America Laminate Flooring Market
- Key Players in the North America Laminate Flooring Market
- SWOT Analysis of North America Laminate Flooring Market
- North America Laminate Flooring Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the North America Laminate Flooring Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 North America Laminate Flooring Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Laminate Flooring Market
7. North America Laminate Flooring Market, By Type, 2019-2032 (USD Million)
7.1 High-density Fiberboard Laminates
7.2 Medium-density Fiberboard Laminates
8. North America Laminate Flooring Market, By Sector, 2019-2032 (USD Million)
8.1 Residential
8.2 Commercial
9. North America Laminate Flooring Market, By Region, 2019-2032 (USD Million)
9.1 North America Laminate Flooring Size and Market Share by Region (2019-2025)
9.2 North America Laminate Flooring Size and Market Share by Region (2026-2032)
9.3 United States
9.4 Canada
9.5 Mexico
9.6 Rest of North America
10. Company Profiles
10.1 Armstrong Flooring Inc.
10.1.1 Company details
10.1.2 Financial outlook
10.1.3 Product summary
10.1.4 Recent developments
10.2 Beaulieu
10.2.1 Company details
10.2.2 Financial outlook
10.2.3 Product summary
10.2.4 Recent developments
10.3 Floorcraft
10.3.1 Company details
10.3.2 Financial outlook
10.3.3 Product summary
10.3.4 Recent developments
10.4 Formica Group
10.4.1 Company details
10.4.2 Financial outlook
10.4.3 Product summary
10.4.4 Recent developments
10.5 Mannington Mills
10.5.1 Company details
10.5.2 Financial outlook
10.5.3 Product summary
10.5.4 Recent developments
10.6 Mohawk Industries
10.6.1 Company details
10.6.2 Financial outlook
10.6.3 Product summary
10.6.4 Recent developments
10.7 Pergo
10.7.1 Company details
10.7.2 Financial outlook
10.7.3 Product summary
10.7.4 Recent developments
10.8 Richmond
10.8.1 Company details
10.8.2 Financial outlook
10.8.3 Product summary
10.8.4 Recent developments
10.9 Shaw Industries
10.9.1 Company details
10.9.2 Financial outlook
10.9.3 Product summary
10.9.4 Recent developments
10.10 Tarkett
10.10.1 Company details
10.10.2 Financial outlook
10.10.3 Product summary
10.10.4 Recent developments
10.11 Other
10.11.1 Company details
10.11.2 Financial outlook
10.11.3 Product summary
10.11.4 Recent developments
11. List of Abbreviations
12. Reference Links
13. Conclusion
14. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
