North America Laminate Flooring Market Size
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
North America Laminate Flooring Market Trends
Increase In Use Of Laminated Floor Covering
In terms of the purchase of laminated flooring by the end-use market, residential replacement is having the largest share of demand at USD 859 Million (79.8%) followed by commercial replacement and residential builder. Shortage in the supply of laminated floor covering with an increased container cost and delay is deterring the suppliers from accessing the whole market, which is expected to rise in the future as supply chain disruptions will ease.
Laminated floor covering faces competition from luxury Vinyl tyles in terms of market revenue. Over a period consumers and the flooring industry observed that LVT is a plastic product while laminate flooring is generally made from real wood fibers. This is leading to a shift away from LVT creating a positive externality for sales of laminated floor covering.
Rising Construction increasing demand for Laminate Flooring
The commercial application dominates the laminate flooring market in North America. Laminate flooring is extensively used in the commercial sector, as it is cost-effective, requires low maintenance, and can withstand high traffic. On account of the high demand for laminate flooring from five-star hotels, showrooms, retail outlets, and corporate offices, the demand for laminate flooring in the commercial sector has increased significantly.
Post Covid sales value and volume of laminated floor covering observed an increase which was declining for two years prior to Covid with the largest sales done through floor covering stores and contractors. Healthcare, senior living, and education are among the segments observing a sharp growth in engineered commercial flooring which was able to maintain strong deliveries and quality. Combined with this mergers and acquisitions of firms during the pandemic allowed the manufacturers to grow their commercial business
North America Laminate Flooring Industry Overview
The report covers major international players operating in the North American laminate flooring market. In terms of market share, brand names have a very small influence on the sales of laminated floors and are majorly affected by salespersons. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets. Among the players existing in North America, Laminated flooring are Mohawk, Shaw, Mannington mills, Formica, Pego, and others.
North America Laminate Flooring Market Leaders
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Shaw Industries
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Mohawk industries
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Mannington Mills
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Formica Group
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Pergo
*Disclaimer: Major Players sorted in no particular order
North America Laminate Flooring Market News
- In February 2023, Shaw Industries Group, Inc. announced the completion of its acquisition of a controlling interest in Watershed Solar LLC, a provider of patented renewable energy solutions. The technology, known as PowerCap, features low-profile, high-output solar arrays installed on landfills, coal ash closures, and rooftops. This innovative approach transforms liabilities or underutilized spaces into valuable renewable energy assets.
- In October 2023, Tarkett has complete Collaborative portfolio, featuring eleven designs in total across soft surface and LVT flooring. The collection was first showcased at Design Days this summer and has since become one of Tarkett's most eagerly awaited collections of the year.
North America 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 High Infrastructure spending and advancement in smart infrastructure
- 4.2.2 Increasing value of commercial property construction
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4.3 Market Restraints
- 4.3.1 Increasing real estate price with inflation restraining demand
- 4.3.2 Domination by carpet and rug sale affecting laminate flooring
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4.4 Market Opportunities
- 4.4.1 Improved laminate flooring products in market with emerging technologies
- 4.4.2 Durability, Easy to clean and install features expanding the market demand.
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4.5 Industry Attractiveness - Porters' Five Forces Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitutes
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 Product Type
- 5.1.1 High-density Fiberboard Laminated Flooring
- 5.1.2 Medium-density Fiberboard Laminated Flooring
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5.2 End User
- 5.2.1 Residential
- 5.2.2 Commercial
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5.3 Distribution Channel
- 5.3.1 Offline Stores
- 5.3.2 Online Stores
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5.4 Geography
- 5.4.1 United States
- 5.4.2 Canada
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Armstrong Flooring Inc.
- 6.1.2 Shaw Industries
- 6.1.3 Tarkett
- 6.1.4 Mohawk Industries
- 6.1.5 Mannington Mills
- 6.1.6 Formica Group
- 6.1.7 Beaulieu
- 6.1.8 Richmond
- 6.1.9 Floorcraft
- 6.1.10 Pergo*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
North America Laminate Flooring Industry Segmentation
Laminate flooring (also called floating wood tile in the United States) is a multi-layer synthetic flooring product fused together with a lamination process. Laminate flooring simulates wood (or sometimes stone) with a photographic applique layer under a clear protective layer.
The North American laminate flooring market is segmented by product type, end-user, distribution channel, and geography. By product type, the market is sub-segmented into high-density fiberboard laminated flooring and medium-density fiberboard laminated flooring. By end user, the market is sub-segmented into residential and commercial. By distribution channel, the market is sub-segmented into offline stores and online stores, and by geography, the market is sub-segmented into the United States and Canada.
The report offers market size and forecasts for the North American laminate flooring market in value (USD) for all the above segments.
| Product Type | High-density Fiberboard Laminated Flooring |
| Medium-density Fiberboard Laminated Flooring | |
| End User | Residential |
| Commercial | |
| Distribution Channel | Offline Stores |
| Online Stores | |
| Geography | United States |
| Canada |
North America Laminate Flooring Market Research FAQs
What is the current North America Laminate Flooring Market size?
The North America Laminate Flooring Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in North America Laminate Flooring Market?
Shaw Industries, Mohawk industries, Mannington Mills, Formica Group and Pergo are the major companies operating in the North America Laminate Flooring Market.
What years does this North America Laminate Flooring Market cover?
The report covers the North America Laminate Flooring Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the North America Laminate Flooring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Laminate Flooring Industry Report
Statistics for the 2024 North America Laminate Flooring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Laminate Flooring analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
