Market Trends of North America Laminate Flooring Industry
Increase In Use Of Laminated Floor Covering
In terms of the purchase of laminated flooring by the end-use market, residential replacement is having the largest share of demand at USD 859 Million (79.8%) followed by commercial replacement and residential builder. Shortage in the supply of laminated floor covering with an increased container cost and delay is deterring the suppliers from accessing the whole market, which is expected to rise in the future as supply chain disruptions will ease.
Laminated floor covering faces competition from luxury Vinyl tyles in terms of market revenue. Over a period consumers and the flooring industry observed that LVT is a plastic product while laminate flooring is generally made from real wood fibers. This is leading to a shift away from LVT creating a positive externality for sales of laminated floor covering.
Rising Construction increasing demand for Laminate Flooring
The commercial application dominates the laminate flooring market in North America. Laminate flooring is extensively used in the commercial sector, as it is cost-effective, requires low maintenance, and can withstand high traffic. On account of the high demand for laminate flooring from five-star hotels, showrooms, retail outlets, and corporate offices, the demand for laminate flooring in the commercial sector has increased significantly.
Post Covid sales value and volume of laminated floor covering observed an increase which was declining for two years prior to Covid with the largest sales done through floor covering stores and contractors. Healthcare, senior living, and education are among the segments observing a sharp growth in engineered commercial flooring which was able to maintain strong deliveries and quality. Combined with this mergers and acquisitions of firms during the pandemic allowed the manufacturers to grow their commercial business
