Market Size of North America Laminate Flooring Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR (2024 - 2029) | > 3.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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.
