According to the latest report by IMARC Group, titled "North
America Laminate Flooring Market: Industry Trends, Share, Size, Growth,
Opportunity and Forecast 2023-2028", the North America laminate flooring market size reached 134.0 Million Sq. Meters in 2022. Looking forward,
IMARC Group expects the market to reach 161.0 Million Sq. Meters by
2028, exhibiting a growth rate (CAGR) of 3% during 2023-2028. Laminate
flooring refers to a type of flooring that is manufactured of multiple layers
of synthetic materials that are fused together through a lamination process.
Its top layer is produced of a photographic applique layer that simulates the
look of natural materials, such as hardwood, stone, or tile. This layer is
covered with a clear, protective wear layer that makes the flooring resistant
to scratches, stains, and fading. The middle layer is comprised of high-density
fiberboard (HDF), providing the flooring with structural integrity and
stability. The bottom layer is a moisture-resistant layer that prevents
moisture from seeping into the flooring, which can cause warping or buckling.
Additionally, it is a cost-effective and low-maintenance alternative to natural
hardwood, stone, or tile flooring. It is easy to install and can be placed over
most existing floors, including concrete, plywood, and vinyl.
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North America Laminate Flooring Market Demand:
The increasing demand for affordable and low-maintenance flooring
options majorly drives the market in North America. Due to the ease of
installation and durability of laminate flooring, make it an excellent choice
for high-traffic areas of the home, such as kitchens, hallways, and entryways,
which is significantly supporting the market. Along with this, the growing
trend of eco-friendly and sustainable home décor is positively influencing the
market as laminate flooring is an eco-friendly option produced from synthetic
materials rather than natural hardwood. Apart from this, the emerging
construction industry and the increasing number of new housing projects are
also contributing to the demand. Moreover, continual technological advancements
to produce laminate flooring with high-quality photographic applique layers
that simulate the look of natural materials are creating a positive market
outlook.
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