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Global Wood and Laminate Flooring Market is valued approximately at USD XX billion in 2019 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2020-2027.
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Factors such as the environmental quality, longevity and remendability of wood and laminate flooring are anticipated to fuel demand. The industry is projected to see development because of the launch of laminates and wood flooring replicating natural solid wood flooring. Advances in modeling and printing technologies have rendered laminated floors appear more practical and have rendered them more common around the globe. In fact, technical advancements in wood flooring have led to a growing appetite for goods. Ease of installation and the need for comparatively less professional labor compared to the construction of substitute products are the reasons that are likely to fuel demand for wood and laminate flooring. In addition, these devices are durable and fast to install on all floor shapes with a small number of tools and are thus favored for DIY applications. However, higher costs associated with premium timber products are expected to slow down development over the forecast period (2020-2027). Wood and laminate flooring are made of real wood types, such as oak, teak, pine, rosewood, walnut, bamboo, and others with a wide degree of flexibility. These floorings are stain-resistant and need less regular cleaning. Increasing concerns regarding the environmental effects have had a major effect on the wood and laminate flooring industry. Growing customer preferences for aesthetics, combined with increasing expenditure in building, are projected to have a favorable effect on the industry over the forecast era. Growth of the residential and commercial construction segment, backed by population expansion, is expected to fuel product demand. Various manufacturers of wood and laminate flooring are adopting the strategy of product launch to gain competitive edge over other players in the marketplace. For instance, in March 2018, Span Floors, Indian wood flooring brand, has launched a new range of laminate flooring that is relatively more scratch-resistant and impact-resistant than real wood flooring in general.
The regional analysis of global Wood and Laminate Flooring Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is expected to continue to witness a significant demand for wood and laminate flooring products due to consumer awareness of the advantages of the product. In addition, increasing building practices in the manufacturing sector, such as work floors, distribution points and storage centers, are expected to boost commodity demand. Increasing trends in single-family housing units are likely to further fuel market growth.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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