India Laminate Flooring Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

India Laminate Flooring Market Analysis

In India, the laminate flooring market has been experiencing steady growth over the years, and it is expected to record a CAGR of greater than 6% during the forecast period (2021-2026).

COVID-19 has shaken India's economy and changed the market scenario. It has negatively impacted the Indian laminate flooring market. Transactions are halted as manufacturing industries had to be shut down due to the nationwide lockdown. The purchase of laminate flooring products has been declined due to lockdowns imposed by the Indian government. Due to the COVID-19 pandemic, the market was under pressure in 2020. This factor restricted the construction of housing and building projects. Moreover, the lockdown and related restrictions have forced the manufacturing of laminate flooring products to stop and reduced their sales, which resulted in a decline in the overall Indian market.

Laminate flooring refers to a multi-layer synthetic flooring product, with the wear, design, core, and back layers sealed together using the lamination process. The upper layer usually comprises melamine and aluminum oxide that aid in providing the laminate board a scratch- and moisture-resistant surface. Laminate flooring is economical, highly resistant to dust and damage, versatile, durable, eco-friendly, and easy to install. Laminate flooring is relatively inexpensive, as compared to engineered wood, solid hardwood, and stone floor coverings. Moreover, it is available in varying widths, lengths, and thicknesses and can replicate different surfaces, including wood, stones, and tiles. Hence, the demand for laminate flooring is increasing across India.

Additionally, one of the major factors driving the market growth is the rapid rise of the construction industry. Urbanization, industrialization, and changing lifestyles have resulted in an increase in construction activities in emerging countries like India. Rising environmental concerns regarding the usage of timber and new technological innovations are expected to continue to spur the demand in the upcoming years. The price volatility of raw materials and their availability can pose a major challenge to laminate flooring manufacturers. The flooring manufacturing sector is one of the sectors that have been bearing the brunt of COVID-19 for more than a year. Manufacturers were stranded on raw material orders due to a major impact of COVID-19 on the logistics industry due to the lockdowns. All these factors have been limiting the laminate flooring industry's growth amid the pandemic.

India Laminate Flooring Market Trends

This section covers the major market trends shaping the India Laminate Flooring Market according to our research experts:

Commercial Segment is Expected to Hold a Major Market Share in the Near Future

India Laminate Flooring Industry Segmentation

Laminate flooring (also called floating wood tile in the United States) is a multi-layer synthetic flooring product fused with a lamination process. Laminate flooring simulates wood (or even stone) with a photographic applique layer under a clear protective layer. A complete background analysis of the Indian laminate flooring market, which includes an assessment of the laminate flooring market, emerging trends by segment and regional market, significant changes in market dynamics, and market overview, is covered in the report. The report also features qualitative and quantitative assessments by analyzing the data gathered from industry analysts and market participants across key points in the industry's value chain. The market is segmented by product type (high-density fiberboard laminated flooring and medium-density fiberboard laminated flooring), end user (residential and commercial), distribution channel (offline stores and online stores).