Europe Laminate Flooring Market Analysis
The Europe Laminate Flooring Market is expected to register a CAGR of greater than 2% during the forecast period.
COVID-19 has influenced the Europe Laminate Flooring Market by straight forwardly influencing Demand and Production for Laminated floors in Europe and by making delay in constrution of Commercial or Residential real estate sector. As there was a huge negative impact on the construction of real estate sector during COVID-19, it directly affected the usage of laminate floorings.
Laminate flooring has been a fashionable option in Europe for more than 20 years. Rising investments in the construction industry, growth in remodeling & renovation activities, and rapid urbanization are documented as the major driving factors to the market. Increasing usage in commercial, as well as residential sector, the prevalence of cost-effective and low maintenance products, surging level of investment for the development of the real estate sector, are some of the factors that will accelerate the growth of the laminate flooring market in the forecast period. Growing urbanization and industrialization will further boost various opportunities that will lead to the growth of the laminate flooring market. The rising population and improving standards of living have led to a rise in the demand for modern housing, which has significantly contributed to the growth of the market.
Europe Laminate Flooring Market Trends
Rising Construction Activities is Driving the Market
The rising construction of residential and commercial buildings to cater to the rising housing needs of the growing population is anticipated to support the market. Increasing demand in the new construction and home improvement sectors is expected to be the key driving force for the laminate flooring market over the forecast period. Moreover, rising investments in commercial construction are expected to support regional growth over the forecast period. Increasing consumer preferences for aesthetics coupled with rising investments in construction are the factors anticipated to positively influence the market over the forecast period. Changing lifestyles coupled with increasing construction activity in the European region are expected to propel market growth in the region. Urbanization, industrialization, and changing lifestyles have resulted in an increase in construction. This has ultimately contributed to the growth of the European laminate flooring market.
Residential Application is Dominating the Market
Residential application accounted for a market share on account of high demand in the residential buildings in cold regions of Europe. The rising trend of the construction of single-family homes in developed regions is anticipated to further fuel the product demand. The rising construction of residential buildings to cater to the rising housing needs of the growing population is anticipated to support the market. Laminate flooring is primarily preferred in residential applications with residential replacement generating significant demand. Growth of the residential segment among the application segments is attributable to growing renovation activities among households in order to add an aesthetic look to the interior of the house.
Europe Laminate Flooring Industry Overview
The Europe Laminate Flooring Market is moderatly fragmented in nature. The market is transforming with many technological advancements through product innovation and process automation. The key market players are focusing on improving their production capacity which will help them to increase exports.
Europe Laminate Flooring Market Leaders
Mohawk Industries, Inc.
Shaw Industries Group, Inc.
Tarkett S.A.
Armstrong Flooring, Inc.
Mannington Mills, Inc.
- *Disclaimer: Major Players sorted in no particular order
Europe Laminate Flooring Market News
- On 14th June 2021, Shaw Industries Group, Inc. partnership with local developers Steve and Tammy Herndon of Herndon Properties, delivering an experience on par with what young professionals and prospective associates would expect in larger markets. On 18th October 2021, Armstrong Flooring announced the launch of a new rigid core product, Essentials Plus. Designed for residential spaces, Essentials Plus features the newest, on-trend designs with excellent performance.
- On 1st Novemeber 2021, Shaw Industries Group, Inc. (Shaw), a leading global flooring provider, today announced plans to expand its operations in Aiken County. Located at 136 East Frontage Road in Aiken, Shaw's expansion will increase the company's manufacturing capacity and support future growth for new products.