Market Trends of Europe Laminate Flooring Industry
This section covers the major market trends shaping the Europe Laminate Flooring Market according to our research experts:
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.
