North America Laminate Flooring Market Analysis
The North America Laminate Flooring Market is expected to register a CAGR of greater than 3.5% during the forecast period.
The market is expected to experience a significant growth rate during the forecast period, driven by various market drivers. In the United States, carpet and area rug companies dominate the flooring sector and hold a substantial market share. This dominance is followed by luxury vinyl tile, Ceramic, and Porcelain tile. The ongoing surge in residential construction activities in the United States signifies promising prospects for the Laminate flooring market in the region.
Amidst rising inflation and interest rates, alternative payment methods such as credit cards and buy now, pay later options are gaining popularity for purchasing floor coverings. The market landscape comprises key segments, including residential builders, manufacturing housing, commercial construction, and transportation equipment. Residential replacement accounts for the largest share of laminate sales at 70%.
As the real estate sector experiences recovery from market fluctuations, there are opportunities for growth in commercial wood, carpets & rugs, and commercial flooring segments. This recovery, coupled with increasing consumer demand for durable and cost-effective flooring solutions, presents avenues for expansion and innovation within the market.
North America Laminate Flooring Market Trends
Increase In Use Of Laminated Floor Covering
In terms of the purchase of laminated flooring by the end-use market, residential replacement is having the largest share of demand at USD 859 Million (79.8%) followed by commercial replacement and residential builder. Shortage in the supply of laminated floor covering with an increased container cost and delay is deterring the suppliers from accessing the whole market, which is expected to rise in the future as supply chain disruptions will ease.
Laminated floor covering faces competition from luxury Vinyl tyles in terms of market revenue. Over a period consumers and the flooring industry observed that LVT is a plastic product while laminate flooring is generally made from real wood fibers. This is leading to a shift away from LVT creating a positive externality for sales of laminated floor covering.
Rising Construction increasing demand for Laminate Flooring
The commercial application dominates the laminate flooring market in North America. Laminate flooring is extensively used in the commercial sector, as it is cost-effective, requires low maintenance, and can withstand high traffic. On account of the high demand for laminate flooring from five-star hotels, showrooms, retail outlets, and corporate offices, the demand for laminate flooring in the commercial sector has increased significantly.
Post Covid sales value and volume of laminated floor covering observed an increase which was declining for two years prior to Covid with the largest sales done through floor covering stores and contractors. Healthcare, senior living, and education are among the segments observing a sharp growth in engineered commercial flooring which was able to maintain strong deliveries and quality. Combined with this mergers and acquisitions of firms during the pandemic allowed the manufacturers to grow their commercial business
North America Laminate Flooring Industry Overview
The report covers major international players operating in the North American laminate flooring market. In terms of market share, brand names have a very small influence on the sales of laminated floors and are majorly affected by salespersons. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets. Among the players existing in North America, Laminated flooring are Mohawk, Shaw, Mannington mills, Formica, Pego, and others.
North America Laminate Flooring Market Leaders
Shaw Industries
Mohawk industries
Mannington Mills
Formica Group
Pergo
- *Disclaimer: Major Players sorted in no particular order
North America Laminate Flooring Market News
- In February 2023, Shaw Industries Group, Inc. announced the completion of its acquisition of a controlling interest in Watershed Solar LLC, a provider of patented renewable energy solutions. The technology, known as PowerCap, features low-profile, high-output solar arrays installed on landfills, coal ash closures, and rooftops. This innovative approach transforms liabilities or underutilized spaces into valuable renewable energy assets.
- In October 2023, Tarkett has complete Collaborative portfolio, featuring eleven designs in total across soft surface and LVT flooring. The collection was first showcased at Design Days this summer and has since become one of Tarkett's most eagerly awaited collections of the year.
