This can be accredited to the rising urbanisation along with the technological developments and introduction of innovative product designs by the manufacturers.

Laminate flooring refers to a durable and versatile flooring solution made of melamine resin and fibreboard materials. It is composed of four layers, namely wear layer, design layer, core layer and back layer, which are fused together using intense heat and pressure. Laminate flooring is relatively inexpensive as compared to engineered wood, solid hardwood, and stone floor coverings. As it can replicate stone, tiles as well as wood patterns, the demand for laminate flooring has been escalating in the recent years. A new research report by IMARC Group, titled “Laminate Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global laminate flooring market reached a volume of more than 968 Million Sq. Metres in 2017, registering a CAGR of 3% during the year 2010-2017. The report further anticipates the market to reach a volume of 1,136 Million Sq. Metres by 2023.

Want more information about this market? Request a free report sample: https://www.imarcgroup.com/request?type=report&id=817&flag=B

Global Laminate Flooring Market Drivers/Constraints:

With rising population and improving standards of living, there has been an increase in the demand for modern housing, particularly in the emerging nations, which have significantly contributed to the growth of the market.
The advancements in the designing and printing technology and the introduction of innovative product designs by the manufacturers are some of the other growth-inducing factors propelling the global laminate flooring market.
Laminate flooring ensures ease of installation and reduces the requirement of skilled labour as opposed to the other flooring materials. This has favourably impacted the growth of the laminate flooring market globally.
The price volatility of the raw materials of laminate flooring and their availability can pose a major challenge to the laminate flooring manufacturers.
Source: https://www.imarcgroup.com/global-laminate-flooring-market