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Global Laminate Flooring Industry Analysis Report 2023-2030: Increasing Demand for Fashionable Interiors Bodes Well for Laminate Flooring Market

DUBLIN, Sept. 25, 2023 /PRNewswire/ -- The "Laminate Flooring - Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

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Global Laminate Flooring Market to Reach $25.1 Billion by 2030

The global laminate flooring market is on an upward trajectory, with an estimated worth of US$19.3 billion in 2022. This market is poised for continued growth, projected to reach US$25.1 billion by 2030, marking a steady 3.3% compound annual growth rate (CAGR) between 2022 and 2030.

This growth is driven by both residential and commercial applications, each exhibiting promising trends. In the residential sector, laminate flooring is expected to experience substantial sales growth, while the commercial segment also contributes to the overall market expansion.

Specifically, the residential segment is projected to achieve a 3.5% CAGR, reaching US$16.2 billion by the end of the analysis period. On the other hand, the commercial segment is estimated to grow at a 3.1% CAGR over the next eight years.

Breaking down regional dynamics, the U.S. laminate flooring market is valued at approximately US$4.4 billion in 2022. China, as the world's second-largest economy, is forecasted to reach a market size of US$5 billion by 2030, fueled by a 4.2% CAGR during the period from 2022 to 2030.

Noteworthy markets include Japan and Canada, each expected to grow at 2.4% over the 2022-2030 period. In Europe, Germany is forecasted to exhibit a growth rate of approximately 2.2% CAGR. These trends underscore the promising prospects of the global laminate flooring market.

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For more information about this report visit https://www.researchandmarkets.com/r/x88atp

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