Global Wood and Laminate Flooring Market: Overview
Wood and laminates hold a crucial place in the building and construction industry. Wood in general is obtained from the forestry companies, which are mostly regulated by government entities. Laminates on the other hand are manufactured using thermosetting resins, which are cured by chemicals such as acetaldehyde. Some of the most common thermosetting resins used in the manufacturing of laminates are vinyl ester, polyester, epoxy resins, and acrylic.
The report provides a detailed outlook into the growth drivers and restraints having an impact on the global wood and laminate flooring market between 2015 and 2023. Compiled with exhaustive information, the report provides insights into the present and future market scenario by analyzing the prevailing market trends. Besides this, the impact of various micro and macro-economic factors on the market is determined using industry-leading tool to help readers get a better perspective on the global wood and laminate flooring market.
Global Wood and Laminate Flooring Market: Trends and Opportunities
The increasing demand for laminate and wood flooring in the building and construction industry is the key factor driving the market. The expansion of the home improvement sector and novel construction segments around the world is especially contributing to the demand for laminate and wood flooring. With the latest technological developments and several innovations on cards, the market will witness a string of product innovations over the forecast period. TMR foretells the application of wood and laminate flooring to increase in the residential sector on account of the aforementioned developments.
On the downside, factors such as price volatility of raw materials and their availability are posing challenge to the market. Wood is a major raw material used in flooring, the availability of which is immensely affected by the prevailing environmental laws related to deforestation in wood-producing regions. In addition, the spiking raw materials costs have led to the reduction in profit margins, which pose significant threat to the enterprises operating in the global wood and laminate flooring market.
Global Wood and Laminate Flooring Market: Regional Outlook
Regionally, the global wood and laminate flooring market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. On account of the increasing consumption and revenue, Asia Pacific managed emerging dominant in the global wood and laminate flooring market. The strong growth witnessed in the building and construction industry also contributes to the high revenue generation by the wood and laminate flooring market in Asia Pacific. Coupled with this, the rising disposable income and changing lifestyle of consumers will have considerable impact on the Asia Pacific market for wood and laminate flooring.
In terms of the demand, Brazil, Russia, and South Africa will also prove lucrative for the market. In North America and Europe as well the market will continue witnessing robust growth.
Global Wood and Laminate Flooring Market: Vendor Landscape
In order to study the competition prevailing in the global wood and laminate flooring market, the report profiles a few of the companies operating therein. It conducts SWOT analysis on companies such as Home Legend, Fausfloor, Pergo, Millstead, and Wickes to gauge strengths and weaknesses. The analysis also provides insights into the opportunities and threats that these companies could witness over the course of the report’s forecast period.
Due to the presence of several players, the global wood and laminate flooring market exhibits a highly fragmented vendor landscape. Hence in order to strengthen their market position, these companies are focusing on research and development activities to improve their overall manufacturing process. Besides this, significant investment in product development is done to by companies widen the scope of application and geographical footprint.
Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.