Market Trends of ASEAN Laminate Flooring Industry
Rising Sales of Laminated Flooring is Driving the Market
In Singapore, laminated floors have become an important feature of interior spaces with a wide range of designs and color options. The environmentally friendly natural laminated floors are the perfect fit for all residential and commercial premises, with their features of cost-effectiveness and resistance to scratches and slips. The price of laminate flooring has made it an affordable material for users as manufacturers and stores become more accessible. The manufacturers are also providing their laminate flooring products on the Internet, resulting in a diversification of sales as well as an increased revenue share. In the ASEAN region, they contributed to market expansion and sales of laminated floors through a number of direct selling channels, such as The Floor Gallery, Flooring Depot, Alibaba, and e-commerce channels.
Rising Construction Industry in ASEAN Countries is Driving the Market
The ASEAN region presents investors and developers with a lower level of risk of projects being put on hold or canceled. The region is observing a continuous expansion in commercial spaces, which includes hotels, offices, and other institutions, leading to a rise in demand for floor covering. Indonesia, Vietnam, and the Philippines are among the ASEAN countries with the largest population share and growth, leading to a rise in demand for residential space in these regions and demand for customized and residential-specific laminated floorings. Among the ASEAN countries, urban cities exist among the centres creating major demand for the construction of new spaces as well as demand for laminated floor coverings. Bangkok, Kuala Lumpur, Singapore, Jakarta, and Manila, among others, are among the emerging ASEAN cities attracting global laminate flooring manufacturers.
