[FURL=https://www.industryarc.com/Research/Wood-And-Laminate-Flooring-Market-Research-503530?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Wood and laminate flooring market[/FURL] size is forecast to reach $87.3 billion by 2026, after growing at a CAGR of 4.8% during 2021-2026. Wood floorings and laminate floorings are being increasingly used in residential and commercial structures to enhance the aesthetics of the structure. Increasing usage in the commercial, as well as residential sector, rising preferences of wood-based floorings, surging level of investment for the development of airports and hotels, are some of the key factors that will accelerate the growth of the wood and laminate flooring market during the forecast period. Increasing urbanization and industrialization will further fuel numerous opportunities that will contribute to the growth of the wood flooring and laminate flooring industry.Key Takeaways
Asia-Pacific dominates the wood and laminate flooring market, owing to the increasing construction activities in the region. Government initiatives such as “Housing for All” and “One Belt, One Road” are flourishing the residential and commercial building sectors in the region.
In developing countries, urbanization, industrialization, and changing habits have led to a rise in building activities. The growth of the construction industry has contributed to this factor, which in turn has a positive effect on the wood and laminate flooring market.
The factors expected to drive the demand for wood and laminate flooring are the ease of installation and the need for comparatively less skilled labor compared to the installation of alternative materials.
In addition, the high-density fiberboard laminated flooring market is likely to be supported by increasing construction activities in the industrial sector, such as work floors, assembly points, and collection facilities. Growing trends for single-family housing units would likely further fuel demand growth.
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Wood and Laminate Flooring Market Drivers
Supportive Government Policies Promoting the Utilization of Wooden Products
For a long period, much of the materials used in building activities such as cement, asphalt, steel, and plastic remain in the surrounding area, which raises the environmental burden.
Expanding Commercial Construction Sector
Wood and laminate flooring is extensively used in the commercial construction sector, as it is cost-effective, requires low maintenance, and can withstand high traffic.
Wood and laminate flooring market are Tarkett, Mannington Mills, Inc., Mohawk Group, Abet Inc., Berkshire Hathaway Inc., Goodfellow Inc., Forbo Holding AG, Armstrong Flooring, Kronospan Limited, Notion Flooring, Lamiwood, Kahrs Holding AB, and Bauwerk-Boen.
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