Laminate Flooring Predicted to Reach 1.9bn Square Feet by 2017
Published 06/07/2012 | 13:08
The global laminate flooring market has seen phenomenal growth over the last decade and now a report claims that it will reach an incredible 1.92 billion square metres by the year 2017.
The rise in popularity of laminate floors can be put down to a number of factors – from the low cost compared to real wood to the fact they are currently more fashionable than carpets and much easier to keep clean. Many people find laminate floors to be more hygienic too because they tend not to hold onto pet hairs and dust in the stubborn way that carpets do.
Advances in design and developments in printing technology have made laminate floors look more realistic than ever and this in turn is making them more desirable and popular. The high quality of the finish of laminate flooring such as the ones at http://www.ukflooringdirect.co.uk/ looks almost like real wood. Consumers can choose from a wide array of colours and designs – allowing them to obtain that luxurious wood look at a fraction of the price.
People still crave real wood floors, but for those who can not afford them, laminate is the ideal alternative. Technological breakthroughs have seen laminate flooring made with more hardwearing and resistant surfaces. They are also now designed in a way that that makes it incredibly easy to lay and fix together. This is very appealing to those consumers who wish to install the floors themselves.
In making laminate an affordable and easy way for many homeowners to improve their property, the industry has created an ever-growing demand for this style of flooring in countries all around the world.
The laminate flooring market initially showed signs of decline when the recession began, with sales slowing down through 2008 and 2009 and remaining flat throughout 2010.
However, there is now growth in emerging markets in countries such as Poland, Russia and Romania. Demand is up in the Asian market too and it is forecast to show a compound annual growth rate of 12 per cent through to 2017. The market in Asia is strong because of the rapid growth seen in China and India and it is expected that there will be increased demand from the likes of Malaysia, Vietnam and Thailand too.
The positive report was carried out by Global Industry Analysts Inc, which was founded in 1987 and publishes research on market and technology trends worldwide.