Floorings are important convenience for homes, and their existence improves the natural appearance of physical spaces. These floorings are used to cover the floor structure of a building. Floorings are made from wood like Natural timber species, such as oak, bamboo, teak, walnut, maple and rosewood, thus offering a high degree of adaptability. These wood and laminated floorings are hygienic, cost-effective, stain-resistant, durable, easy to install and maintain. Thus, it is improved substitute for conventional flooring and widely used in commercial applications, especially in the hospitality sector. Wood and laminates flooring plays a crucial role in the building and construction industry. Wood is mostly regulated by government entities and is acquired from the forestry companies, whereas, laminates are manufactured with the help of thermosetting resins. Some of the most common thermosetting resins are epoxy resins, vinyl ester and polyester, which are used for production of laminates.
Wood and Laminate Flooring Market: Key Players
The research study includes profiles of leading companies operating in the global wood and laminate flooring market. Key players profiled in the report include: Greenlam Industries, Mohawk, Armstrong World Industries, Eurotex, Bruce, Accord Floors, Westwood, Flooring Innovations, Home Legend and Pergo.
Drivers for the Global Wood and Laminate Flooring Market:
Rising population and speedy growth of urbanization have forced construction activities for government buildings, corporate offices, medical and healthcare units, retail spaces, industrial spaces, educational facilities and commercial utilities are some of the major factor that is driving the growth of the global wood and laminate flooring market. Along with this, longer durability and ease of installation and maintenance flooring is another factor that is also driving the growth of the wood and laminate floorings market.
Opportunities for the Global Wood and Laminate Flooring Market:
Increase in advancements in designing and printing technologies that have enabled the improvements in artistic and qualities of the products, is considered as one of the major factor which will boost the growth of the global wood and laminate floorings market in the forecast period. Along with this, increasing consumer preferences for artistic flooring with rising investments in construction is another factor which will positively influence the growth of the market over the forecast period. Moreover, introduction of sophisticated appearance, environmental profile and replicating the natural solid timber floors are the factors that will also boost market growth in future.
Restrains for the Global Wood and Laminate Flooring Market:
High cost associated with the premium timber species like oak, bamboo, teak, walnut, maple and rosewood is one of the major factor that is hampering the growth of the global wood and laminate floorings market. Along with this, volatility in the cost that is associated with raw materials which are required for manufacturing of laminate flooring is another factor that is also hampering the growth of the global wood and laminate flooring market.
Region Wise, Global Wood and Laminate Flooring Market Analysis:
On the basis of region, the AIOps market is segmented into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific held the largest share in the market because of infrastructure development, rapid urbanization, growing income level and increase in spending on home improvement. North America is also having maximum share in the wood and laminate flooring market which is followed by the European countries.
Covid-19: Impact and Recovery Analysis for Global Wood and Laminate Flooring Market:
The world is greatly affected by the uncertain raise of the covid-19 Pandemic among the population. The Corona virus outbreak has disrupted & disturbed every sector of business as well as human activity. In most parts of the world there has been a complete restriction set by governments regarding various activities and in turn this is greatly affecting the financial stability of industries like: Wood and Laminate Flooring market globally. Most of the industries and businesses like: wood and laminate flooring are shifting to manufacturing equipment that can support the covid-19 spread from increasing and spreading. The mining industry is one of major industry which provides key raw materials for several applications and end-user in wood and laminate flooring, whereas the flooring market is widely impacted by covid-19 due to government restrictions on public activity, shutting down of manufacturing companies and halting of various business activities. Mining industries which provides key raw material for flooring are likely to recover and return to normal operations by the end of the 3rd quarter of 2020 as enterprises are predicting the return of their workers soon.
Global Wood and Laminate Flooring Market: Product analysis
- Wood Flooring
- Laminate Flooring
Global Wood and Laminate Flooring Market: Application analysis
Global Wood and Laminate Flooring Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East