Wood and laminate flooring Market Growing at a CAGR of Around 6.6% Between 2020 and 2026

Wood and laminate flooring Market

Report Overview

The wood and laminate flooring market in India was valued at USD 76.9 million in 2021 and is projected to expand at a CAGR of 4.4% between 2022 and 2030. In India, the demand for premium or luxury construction materials has increased as a result of rising consumer disposable income and a growing inclination for enhancing the appearance and appeal of interiors. The booming construction industry is a major contributor to the fast expanding wood and laminate flooring market in India.

2020 – 2030 India wood & laminate flooring market size by product (USD Million)

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As a result of the market slowdown caused by COVID-19, the construction industry is severely impacted. During the economic downturn, a number of participants utilised novel and inventive strategies to guide customer demand. Companies are producing antiviral versions of their flooring products, which they promote as being effective against coronavirus. In addition, these organisations have begun delivering innovative design solutions for commercial spaces when the workforce returns to the office environment following COVID.

In 2021, laminate flooring accounted for 63.27 percent of the market due to its increased durability, stain resistance, lower cost, superior resistance to scratches and wear & tear, and ease of cleaning compared to wood flooring. Laminate flooring is increasing popularity in India due to the fact that most businesses are educating their client groups, providing excellent service and installation, and constructing the necessary infrastructure for their organisation.

Traditional flooring materials such as ceramic, stones, and tiles account for the majority of the market. The industry for wood and laminate flooring is unstructured and represents a minor fraction of the entire market. With the increasing penetration of wood and laminate flooring goods and the arrival of multinational corporations, however, the market is anticipated to experience intense rivalry in the future years.

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Several technical advances have enhanced the design and performance possibilities of the laminate flooring sector. Alternative core materials and innovative technologies that provide water resistance and beauty are being developed by wood manufacturing firms. Superior scratch prevention, new embossing processes, and other innovations have contributed to the expansion of the laminate flooring sector.

During the commercial and industrial application of adhesives, volatile organic compound (VOC) emissions pose threats to both the environment and human health. Laminate flooring is composed of melamine resin, which comprises formaldehyde as a precursor, although wood flooring also produces a substantial quantity of formaldehyde. Emissions of formaldehyde may pose environmental and health hazards.

Wood and laminate flooring are utilised in home, industrial, and commercial settings. Recently, retail and other business sectors have increasingly adopted wood and laminate flooring options. Typically, the increase in demand for wood building products and western-style building products is a major factor in the transformation of the construction and renovation industries.

Global Wood and Laminate Flooring Market Segments

  • By Product Type :

    • Wood Flooring
    • Laminate Flooring
  • By End User :

    • Residential
    • Commercial
    • Industrial
  • By Construction Activity :

    • Repair & Rehabilitation
    • New Construction
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

Impact of COVID-19 on the Laminate Flooring Market

The current coronavirus outbreak had a negative influence on the laminate flooring sector, as the construction, industrial, and pandemic industries were significantly damaged. Similarly, construction activity were suspended or substantially limited. Globally, manufacturing and transportation operations, along with their respective supply chains, were impacted. Consequently, this hindered the growth of the laminate flooring market. COVID-19 has already had an impact on laminate flooring sales in the first and second quarters of 2021, although sales have rebounded significantly by the end of 2020.

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As lockdown limitations are gradually lifted, all industries are gradually resuming normal manufacturing and service operations. This is also anticipated to result in the resumption of full operations by laminate flooring producers, allowing the market to recover and grow at the same rate as before the epidemic.

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