North America Laminate Flooring Market to Reach 179.4 Million Sq. Meters by 2032, Spurred by Increasing Home Renovation Activities

May 01, 2023 | Retail

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According to the latest report by IMARC Group, titled “North America Laminate Flooring Market Report by Type (HDF Laminates, MDF Laminates), Sector (Residential, Commercial), and Country 2024-2032," the North America laminate flooring market size reached 138.2 Million Sq. Meters in 2023. Laminate flooring refers to a synthetic floor covering that consists of multiple layers of materials fused together using a lamination process. It is manufactured using high and medium-density fiberboards (HDF/MDF), foam, cork, rubber, aluminum oxide, and thermosetting resins. It is widely used in households, offices, restaurants, basements, retail stores, hotels, resorts, commercial buildings, rental properties, and high-moisture areas. Laminate flooring is highly durable, easy to install, requires low maintenance, and provides resistance against moisture, wear and tear, chemicals, and temperature fluctuations. It also offers versatile designs and patterns, improves the aesthetic appeal, and mimics various materials, such as hardwood, tile, concrete, and stone.

North America Laminate Flooring Market Trends:

One of the key factors driving the North America laminate flooring market is the increasing number of home renovation activities. Laminate flooring is widely used in renovating living rooms, bathrooms, kitchens, dining halls, home offices, basements, and stairs, due to its aesthetic look, moisture resistance, and low maintenance. Along with this, the widespread product adoption due to the emerging do-it-yourself (DIY) trend as it is easy to install, remove, and upgrade without professional assistance, is propelling the market growth. Furthermore, the implementation of various government initiatives to support infrastructural development activities and promote the adoption of sustainable and eco-friendly building materials, such as laminate flooring, is providing an impetus to the market growth. Additionally, the recent development of embossed-in-register (EIR) technology, which creates a more realistic wood grain texture that closely mimics the feel and appearance of natural hardwood, thus enhancing the visual appeal and style of the room, is positively influencing the market growth. Besides this, the utilization of high-definition (HD) printing to create detailed and long-lasting designs with exceptional accuracy and consistency is providing a thrust to the market growth. Moreover, increasing consumer awareness regarding various product advantages over traditional flooring materials, such as excellent durability, cost-effectiveness, design flexibility, easy availability, and quick installation, is supporting the market growth. Other factors, including rising expenditure capacities of consumers, extensive research and development (R&D) activities, and growing commercial construction activities, such as offices, hotels, malls, and retail spaces, are anticipated to drive the market growth. On account of the aforementioned factors, the market is expected to reach 179.4 Million Sq. Meters by 2032, exhibiting a CAGR of 2.9% during 2024-2032.

Market Summary:

On the basis of the type, the market has been bifurcated into HDF and MDF laminates.
Based on the sector, the market has been classified into residential and commercial.
On a regional basis, the market has been categorized into the United States, Canada, and Mexico.
The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	Million Sq. Meters
Segment Coverage	Type, Sector, Country
Countries Covered	United States, Canada, Mexico
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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North America Laminate Flooring Market to Reach 179.4 Million Sq. Meters by 2032, Spurred by Increasing Home Renovation Activities

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