ASEAN Laminate Flooring Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 610.44 Million |
| Market Size (2029) | USD 727.11 Million |
| CAGR (2024 - 2029) | 3.56 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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ASEAN Laminate Flooring Market Analysis
The ASEAN Laminate Flooring Market size is estimated at USD 610.44 million in 2024, and is expected to reach USD 727.11 million by 2029, growing at a CAGR of 3.56% during the forecast period (2024-2029).
With a continuous rise in revenue of floor covering in the ASEAN region, revenue of laminate floor covering is observing a continuous increase in its sales with a share of more than 5% in floor covering revenue. China is emerging as a major exporter of laminate floor covering to the ASEAN region with the rise in its construction activities. With rising urbanization and disposable income in the ASEAN region, people are exploring easy-to-install and highly resistant flooring materials for which laminate flooring exists as an efficient solution. Singapore, Brunei, and Malaysia have emerged as ASEAN economies with the highest economic growth and urbanisation rate creating market opportunities for Laminate flooring manufacturers to increase their sales in these regions. With innovative developments of convergence of art and technologies users' preference for customized images in laminate flooring is observing an increase in demand, making residential and commercial space more attractive.
Post-COVID-19, the construction industry in Singapore observed a sharp increase in growth with an increase in demand for more commercial and residential spaces, with other countries of Malaysia and Vietnam observing a similar trend, creating a positive externality for sales of laminate flooring. The laminate flooring product is composed of a multi-layer, wear-resistant, design-resistant, core-reinforced, and back-reinforced laminate board, which is sealed together using a lamination process and is suitable for absorbing foot frequency of commercial spaces. Costco Wholesales and Walmart are among the players who are expanding their sales network in the ASEAN countries with rising economic activity and signaling global manufacturers to enter the market to reap upcoming profits.
ASEAN Laminate Flooring Market Trends
Rising Sales of Laminated Flooring is Driving the Market
In Singapore, laminated floors have become an important feature of interior spaces with a wide range of designs and color options. The environmentally friendly natural laminated floors are the perfect fit for all residential and commercial premises, with their features of cost-effectiveness and resistance to scratches and slips. The price of laminate flooring has made it an affordable material for users as manufacturers and stores become more accessible. The manufacturers are also providing their laminate flooring products on the Internet, resulting in a diversification of sales as well as an increased revenue share. In the ASEAN region, they contributed to market expansion and sales of laminated floors through a number of direct selling channels, such as The Floor Gallery, Flooring Depot, Alibaba, and e-commerce channels.
Rising Construction Industry in ASEAN Countries is Driving the Market
The ASEAN region presents investors and developers with a lower level of risk of projects being put on hold or canceled. The region is observing a continuous expansion in commercial spaces, which includes hotels, offices, and other institutions, leading to a rise in demand for floor covering. Indonesia, Vietnam, and the Philippines are among the ASEAN countries with the largest population share and growth, leading to a rise in demand for residential space in these regions and demand for customized and residential-specific laminated floorings. Among the ASEAN countries, urban cities exist among the centres creating major demand for the construction of new spaces as well as demand for laminated floor coverings. Bangkok, Kuala Lumpur, Singapore, Jakarta, and Manila, among others, are among the emerging ASEAN cities attracting global laminate flooring manufacturers.
ASEAN Laminate Flooring Industry Overview
The ASEAN laminate flooring market is fragmented with a large number of players existing in the market. With technological advancement and product innovation of customized and residential, commercial-specific products, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets. Some of the existing players in the ASEAN Laminate Flooring Market are Inovar, Mannington Mills, Synchrowood, and Metroply Thailand.
ASEAN Laminate Flooring Market Leaders
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Inovar
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Mannington Mills
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Synchrowood
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Dongwha Malaysia
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Metroply Thailand
*Disclaimer: Major Players sorted in no particular order
ASEAN Laminate Flooring Market News
- April 2023: CFL Flooring announced the expansion of its manufacturing capacity in Vietnam. This expansion in Vietnam is done to facilitate the development of hybrid resilient flooring products. The expansion includes the development of two new buildings dedicated to the production of CFL Be-lite, Acoustic SPC, WPC, and NaturTrend Ultra-Matte finishes with changing market needs.
- November 2022: PJ Chonburi Parawood Co Ltd. (PJ Wood) expanded its production with the expansion of its Chonburi in Thailand with its aim to expand the manufacture of wooden building components for the global export of laminated boards and covering. The firm planned to provide flooring products initially in the domestic market through a direct-to-consumer model.
ASEAN Laminate Flooring Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rise in Domestic and Commercial Construction in the Market
- 4.2.2 Increase in Sales of Laminated Flooring Through Online Channels
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4.3 Market Restraints
- 4.3.1 Major Share of Market is Concentrated in Urban Centres
- 4.3.2 Nascent Production Capacity of Domestic Manufaturers
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4.4 Market Opportunities
- 4.4.1 Demand for Customized Products is Providing Opportunities for the Market
- 4.4.2 Government Initiatives to Attract Global Flooring Manufacturers Expanding Market
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4.5 Industry Attractiveness - Porter's Five Forces Analysis
- 4.5.1 Bargaining Power of Suppliers
- 4.5.2 Bargaining Power of Buyers
- 4.5.3 Threat of New Entrants
- 4.5.4 Threat of Substitutes
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Insights on Technological Innovations in the Market
- 4.7 Insights on Government Regulation in the Market
- 4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Product Type
- 5.1.1 High-density Fiberboard Laminated Flooring
- 5.1.2 Medium-density Fiberboard Laminated Flooring
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5.2 By End-User
- 5.2.1 Residential
- 5.2.2 Commercial
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5.3 By Distribution Channel
- 5.3.1 Multi-Brand Stores
- 5.3.2 Speciality Stores
- 5.3.3 Online Stores
- 5.3.4 Other Distribution Channels
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5.4 By Geography
- 5.4.1 Indonesia
- 5.4.2 Malaysia
- 5.4.3 Philippines
- 5.4.4 Singapore
- 5.4.5 Thailand
- 5.4.6 Vietnam
- 5.4.7 Other Countries
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Inovar
- 6.2.2 Rumah Lantai Indonesia
- 6.2.3 Mannington Mills
- 6.2.4 Metroply Thailand
- 6.2.5 Synchrowood
- 6.2.6 Dongwha Malaysia
- 6.2.7 Robina Flooring
- 6.2.8 Power Daccor
- 6.2.9 Siam Flooring
- 6.2.10 Greenlam*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
** Subject To AvailablityASEAN Laminate Flooring Industry Segmentation
Laminate flooring is a multi-layer synthetic flooring product fused together with a lamination process. Laminate flooring simulates wood with a photographic applique layer under a clear protective layer.
The ASEAN laminate flooring market is segmented by product type (high-density fiberboard laminated flooring and medium-density fiberboard laminated flooring), by end-user (residential and commercial), by distribution channel (multi-brand stores, specialty stores, online, and other distribution channels), and by geography (Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, and rest of ASEAN countries).
The market size is provided in terms of value (USD) during the forecast period for all the above segments.
| By Product Type | High-density Fiberboard Laminated Flooring |
| Medium-density Fiberboard Laminated Flooring | |
| By End-User | Residential |
| Commercial | |
| By Distribution Channel | Multi-Brand Stores |
| Speciality Stores | |
| Online Stores | |
| Other Distribution Channels | |
| By Geography | Indonesia |
| Malaysia | |
| Philippines | |
| Singapore | |
| Thailand | |
| Vietnam | |
| Other Countries |
ASEAN Laminate Flooring Market Research Faqs
How big is the ASEAN Laminate Flooring Market?
The ASEAN Laminate Flooring Market size is expected to reach USD 610.44 million in 2024 and grow at a CAGR of 3.56% to reach USD 727.11 million by 2029.
What is the current ASEAN Laminate Flooring Market size?
In 2024, the ASEAN Laminate Flooring Market size is expected to reach USD 610.44 million.
Who are the key players in ASEAN Laminate Flooring Market?
Inovar, Mannington Mills, Synchrowood, Dongwha Malaysia and Metroply Thailand are the major companies operating in the ASEAN Laminate Flooring Market.
What years does this ASEAN Laminate Flooring Market cover, and what was the market size in 2023?
In 2023, the ASEAN Laminate Flooring Market size was estimated at USD 588.71 million. The report covers the ASEAN Laminate Flooring Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the ASEAN Laminate Flooring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
ASEAN Laminate Flooring Industry Report
Statistics for the 2024 ASEAN Laminate Flooring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. ASEAN Laminate Flooring analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
