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The Global Laminate Flooring Industry Will Develop Steadily While Also Facing Challenges

Laminate flooring (also called floating wood tile in the United States) is a multi-layer synthetic flooring product fused together with a lamination process to reach supposed requirements by changing the natural structure manually . The inner core layer is usually composed of melamine resin and fiber board materials. Laminate flooring has grown significantly in popularity, perhaps because it may be easier to install and maintain than more traditional surfaces such as hardwood flooring. It may also have the advantages of costing less and requiring less skill to install than alternative flooring materials. It is reasonably durable, hygienic (several brands contain an antimicrobial resin), and relatively easy to maintain. There is no complicated daily cleaning required, and it can be replaced quickly when it is damaged or old style.

Laminate flooring can be divided into thickness liess than 9 mm, 9 mm ≤thickness＜12 mm and thickness ≥ 12 mm. In 2017, these three kinds of laminate flooring respectively covered a market share of 18.47%，51.65% and 29.88%. Considering to the excellent performance of laminate flooring, there are more and more commercial buildings, residential buildings, and public buildings are trying to use this kind of floor. In 2017, the two fields respectively covered a market share of 14.56% and 81.39%. Laminate flooring made a larger market share in residential buildings because citizens in towns and villages tend to spend in buying or building houses.

The upstream raw materials of laminate flooring mainly include wear-resistant paper, substrate and wood which are accessible. In the cost structure, raw materials cover a market share of more than 75%. As the market supply and demand fluctuations, as well as the promotion of capital markets, which lead to different trend of different raw materials prices, on the whole, it will be a fluctuating status.

The Current Situation of Laminate Flooring Market

Laminate flooring companies are mainly from Europe; the industry concentrate rate is high. The top three companies are Swiss Krono Group, Classen Group, Kastamonu Entegre, with the revenue market share of 10.80%, 11.77%, and 11.34% in 2017.

Europe was the largest revenue market with a market share of 69.84% in 2013 and 67.80% in 2018 with an increase of- 2.03%. China ranked the second market with the market share of 10.48% in 2017. Also, the Southeast Asia, China and India markets for laminate flooring are expected to be the market with the most promising growth rate. Development of economy, increase downstream demand, technology innovation progress in emerging economies such as China, India, Philippines, Thailand, Brazil, Saudi Araba and Vietnam has led to an increase in demand.

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In developing market, with their development of economy, people pursue a higher standard of living, urbanization, development of the construction industry, many local businesses emerged to the market, updating their technology and keep on product innovation, which increased the penetration of more productive and cost-effective, high performance and environmental-friendly laminate flooring. In developed market, they have more international companies, good channels, highly market maturity, fierce competition, a highly competent management team, technology and finance advantages, keep on innovation, prominent market participants invest heavily in R&D, with introduction of new technologies to their products, all of which make a growing market demand for laminate flooring.

Global laminate Flooring Market Forecast

According to our research, the global laminate flooring market has a total sales value of 10379.94 M USD back in 2013, and increased to 12568.88 M USD in 2018. We made a series of functional calculation and deduced the data of past 5 years with scientific model. Finally, we made the prediction that the value of Laminate flooring markets can be 15238.25 M USD by 2023.The CAGR of Laminate flooring is 3.90% from 2017 to 2023.

Europe will remain its first place with a supposed market value of 9933.79 M USD by 2023, and as the second largest market, China will reach a market value of 1785.12 M USD. In recent years, the technology and economy of China have been developing rapidly and the process of urbanization stepping up, driving the growth of construction industry and the downstream market demand of laminate flooring accordingly increase, the whole industry is supposed to develop well. At the same time, Chinese companies are also facing high market competition because they are mainly geared to low-end products, and many companies seize the market at low prices, while also facing threats from large companies. Laminate flooring companies should seize the huge potential of the domestic consumer market, carry out product innovation, strive to provide high-performance, high-environmental protection products, and break the developmental limitations.

The global laminate flooring industry will develop steadily while also facing challenges. First of all, the price of raw materials is unstable. Because the price of raw materials accounts for a large part of the overall cost structure, the price fluctuation of raw materials will bring great instability to the entire industry. Secondly, due to the backward technology development level in many regions and the slow product update, it will also hinder the development of the overall laminate flooring market. In the fierce market competition, many small companies that lack technical and financial support and a stable downstream consumer market are difficult to survive. Some of the strong manufacturers are layout their plan in emerging market, they establish new factory and produce locally, then supply to the local market, which may decrease their marketing cost. What is more, the local manufacturers are emerging on the market, new entrants in this industry must pay attention to current challenges and try to improve their technology and product performance to get a market advantage.

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