logo

ASEAN Laminate Flooring Market Size (2024 - 2029)

The ASEAN laminate flooring market is experiencing growth driven by increasing urbanization and disposable income, leading to a rising demand for easy-to-install and durable flooring solutions. The market's expansion is supported by the growing construction activities in the region, with China emerging as a key exporter. Economic growth in countries like Singapore, Brunei, and Malaysia is creating significant opportunities for laminate flooring manufacturers. The post-COVID-19 construction boom in Singapore, Malaysia, and Vietnam further boosts the market. Additionally, innovations in design and technology are enhancing the appeal of laminate flooring for both residential and commercial spaces, contributing to the market's positive trajectory.

Home Market Analysis Home and Property Improvement Research Floor Coverings Research Non Resilient Flooring Research Laminate Flooring Research ASEAN Laminate Flooring Market Market Size

Market Size of ASEAN Laminate Flooring Industry

ASEAN Laminate Flooring Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 610.44 Million
Market Size (2029) USD 727.11 Million
CAGR (2024 - 2029) 3.56 %
Market Concentration Medium

Major Players

ASEAN Laminate Flooring Market Major Players

*Disclaimer: Major Players sorted in no particular order

ASEAN Laminate Flooring Market Analysis

The ASEAN Laminate Flooring Market size is estimated at USD 610.44 million in 2024, and is expected to reach USD 727.11 million by 2029, growing at a CAGR of 3.56% during the forecast period (2024-2029).

With a continuous rise in revenue of floor covering in the ASEAN region, revenue of laminate floor covering is observing a continuous increase in its sales with a share of more than 5% in floor covering revenue. China is emerging as a major exporter of laminate floor covering to the ASEAN region with the rise in its construction activities. With rising urbanization and disposable income in the ASEAN region, people are exploring easy-to-install and highly resistant flooring materials for which laminate flooring exists as an efficient solution. Singapore, Brunei, and Malaysia have emerged as ASEAN economies with the highest economic growth and urbanisation rate creating market opportunities for Laminate flooring manufacturers to increase their sales in these regions. With innovative developments of convergence of art and technologies users' preference for customized images in laminate flooring is observing an increase in demand, making residential and commercial space more attractive.

Post-COVID-19, the construction industry in Singapore observed a sharp increase in growth with an increase in demand for more commercial and residential spaces, with other countries of Malaysia and Vietnam observing a similar trend, creating a positive externality for sales of laminate flooring. The laminate flooring product is composed of a multi-layer, wear-resistant, design-resistant, core-reinforced, and back-reinforced laminate board, which is sealed together using a lamination process and is suitable for absorbing foot frequency of commercial spaces. Costco Wholesales and Walmart are among the players who are expanding their sales network in the ASEAN countries with rising economic activity and signaling global manufacturers to enter the market to reap upcoming profits.

ASEAN Laminate Flooring Industry Segmentation

Laminate flooring is a multi-layer synthetic flooring product fused together with a lamination process. Laminate flooring simulates wood with a photographic applique layer under a clear protective layer.

The ASEAN laminate flooring market is segmented by product type (high-density fiberboard laminated flooring and medium-density fiberboard laminated flooring), by end-user (residential and commercial), by distribution channel (multi-brand stores, specialty stores, online, and other distribution channels), and by geography (Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, and rest of ASEAN countries). 

The market size is provided in terms of value (USD) during the forecast period for all the above segments.

By Product Type
High-density Fiberboard Laminated Flooring
Medium-density Fiberboard Laminated Flooring
By End-User
Residential
Commercial
By Distribution Channel
Multi-Brand Stores
Speciality Stores
Online Stores
Other Distribution Channels
By Geography
Indonesia
Malaysia
Philippines
Singapore
Thailand
Vietnam
Other Countries
Need A Different Region Or Segment?
Customize Now

ASEAN Laminate Flooring Market Size Summary

The ASEAN laminate flooring market is experiencing steady growth, driven by increasing urbanization and rising disposable incomes in the region. As consumers seek easy-to-install and durable flooring solutions, laminate flooring has emerged as a popular choice. The market is characterized by a diverse range of designs and color options, making it suitable for both residential and commercial spaces. The demand for laminate flooring is further bolstered by the expansion of commercial and residential construction projects in countries like Singapore, Malaysia, and Vietnam. These developments have attracted global manufacturers, with China playing a significant role as an exporter to the ASEAN region. The market's growth is also supported by the availability of laminate flooring through various sales channels, including e-commerce platforms, which have enhanced accessibility and affordability for consumers.

The ASEAN laminate flooring market is fragmented, with numerous players competing for market share. Technological advancements and product innovations have enabled mid-size to smaller companies to expand their presence by securing new contracts and entering new markets. Key players in the market include Inovar, Mannington Mills, Synchrowood, and Metroply Thailand. Recent expansions, such as CFL Flooring's increased manufacturing capacity in Vietnam and PJ Chonburi Parawood Co Ltd.'s production expansion in Thailand, highlight the industry's responsiveness to changing market needs. These expansions aim to meet the growing demand for hybrid resilient flooring products and laminated boards, respectively, further contributing to the market's growth trajectory in the ASEAN region.

Explore More

ASEAN Laminate Flooring Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rise in Domestic and Commercial Construction in the Market

      2. 1.2.2 Increase in Sales of Laminated Flooring Through Online Channels

    3. 1.3 Market Restraints

      1. 1.3.1 Major Share of Market is Concentrated in Urban Centres

      2. 1.3.2 Nascent Production Capacity of Domestic Manufaturers

    4. 1.4 Market Opportunities

      1. 1.4.1 Demand for Customized Products is Providing Opportunities for the Market

      2. 1.4.2 Government Initiatives to Attract Global Flooring Manufacturers Expanding Market

    5. 1.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.5.1 Bargaining Power of Suppliers

      2. 1.5.2 Bargaining Power of Buyers

      3. 1.5.3 Threat of New Entrants

      4. 1.5.4 Threat of Substitutes

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Insights on Technological Innovations in the Market

    7. 1.7 Insights on Government Regulation in the Market

    8. 1.8 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product Type

      1. 2.1.1 High-density Fiberboard Laminated Flooring

      2. 2.1.2 Medium-density Fiberboard Laminated Flooring

    2. 2.2 By End-User

      1. 2.2.1 Residential

      2. 2.2.2 Commercial

    3. 2.3 By Distribution Channel

      1. 2.3.1 Multi-Brand Stores

      2. 2.3.2 Speciality Stores

      3. 2.3.3 Online Stores

      4. 2.3.4 Other Distribution Channels

    4. 2.4 By Geography

      1. 2.4.1 Indonesia

      2. 2.4.2 Malaysia

      3. 2.4.3 Philippines

      4. 2.4.4 Singapore

      5. 2.4.5 Thailand

      6. 2.4.6 Vietnam

      7. 2.4.7 Other Countries

ASEAN Laminate Flooring Market Size FAQs

The ASEAN Laminate Flooring Market size is expected to reach USD 610.44 million in 2024 and grow at a CAGR of 3.56% to reach USD 727.11 million by 2029.

In 2024, the ASEAN Laminate Flooring Market size is expected to reach USD 610.44 million.

ASEAN Laminate Flooring Market Report Snapshots

ASEAN Laminate Flooring Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)