Cleveland, November 3, 2021/PRNewswire/ - Global demand for high-pressure decorative laminates in flooring production is expected to grow 3.4% annually to 162.9 million square meters, worth US$1 billion by 2024. The use cost of high-pressure laminate flooring is much lower than that of low-pressure laminate flooring because of its high cost, but its superior impact resistance and higher durability make it a viable choice for non-residential applications.
Freedonia Group’s latest global laminate flooring research reports on these trends and more. The study provides historical and forecast trends of the global laminate flooring market by region and market (new and improved and repaired residential, and new and improved and repaired non-residential).
The manufacturing capacity of high-pressure laminate flooring is concentrated in a few countries. China is the largest producer, accounting for more than 80% of the world's total output. Other sources of supply include Brazil, India, Italy and Norway.
Overall, the total demand for laminate flooring in China in 2019 was 199 million square meters, accounting for 39% of total sales in the Asia-Pacific region. The total demand in value terms for the same year was US$1.4 billion. China is the world's largest national market for this product, reflecting the huge size of the country's population, building stock and construction industry.
About Freedonia Group-Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company that provides our customers with product analysis, market forecasts, industry trends and market share information. From single-person consulting companies to global corporate groups, our analysts provide companies with fair and reliable industry market research and analysis to help them make important business decisions. We publish more than 100 studies every year, supporting more than 90% of the industrial Fortune 500 companies. Find a ready-made study on https://www.freedoniagroup.com/ or contact us for a customized study: 1 440.842.2400.
Media contact: Corinne Gangloff 1 440.842.2400 cgangloff@freedoniagroup.com
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