India Wood And Laminate Flooring Market Size, Share & Trends Report

India Wood And Laminate Flooring Market Size, Share & Trends Analysis Report By Product (Wood, Laminate), By Application (Residential, Commercial), And Segment Forecasts, 2020 - 2027

  • Published Date: Feb, 2020
  • Base Year for Estimate: 2019
  • Report ID: 978-1-68038-493-2
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 143

Report Overview

The India wood and laminate flooring market size was estimated at USD 2.80 billion in 2019 and is expected to expand at a CAGR of 6.4% in terms of revenue, from 2020 to 2027. The introduction of engineered wood and laminates floors emerging as cost-effective alternatives to hardwood flooring is anticipated to fuel the growth. Superior durability and ease of maintenance are the key factors expected to propel the adoption of wood and laminate floorings in the country. Advancements in designing and printing technologies have facilitated the enhancements in aesthetics and textures of the products, creating growth opportunities for the market.

Ease of installation and requirement of less-skilled labor of wood and laminate flooring as compared to conventional flooring materials such as ceramic tiles and stone tiles is expected to positively influence the growth. Moreover, it is also emerging as one of the most preferred DIY flooring materials in the country.

India wood & laminate flooring market

Natural timber species, such as teak, maple, oak, rosewood, walnut, and bamboo are used for producing wood and laminate flooring, thereby offering a high degree of versatility. These floorings are stain-resistant and require less amount of routine maintenance, thereby increasing the utility in commercial applications, especially in the hospitality sector.

Factors, such as rising population and rapid growth of urbanization have propelled construction activities for corporate offices, retail spaces, educational facilities, government buildings, hotels, lodging spaces, medical and healthcare units, industrial spaces, and commercial utilities. This, in turn, is expected to positively influence the demand for wood and laminate and flooring.

High penetration of ceramic tiles in the Indian market is expected to emerge as one of the major challenges to the demand for wood and laminates flooring. In addition, the presence of tropical temperatures in the larger part of the country is expected to restrict product penetration.

Product Insights

Wood flooring segment is expected to attain a higher share as compared to laminate floorings and is likely to expand at a CAGR of 6.6% in terms of revenue, over the forecast period. Products such as engineered, deck, and solid wood floorings are increasingly used in residential and commercial structures to enhance aesthetics.

Premium feel and aesthetics offered by the product are the major factors driving the demand. Engineering hardwood floorings are rapidly gaining popularity owing to ease of design customization, and low price as compared to solid wood floorings, thereby positively influencing the overall growth of the India wood and laminate flooring market.

Laminate floorings segment is expected to witness a revenue-based CAGR of 5.4% over the forecast period, as the product is emerging as one of the low-cost alternatives to wood without compromising the aesthetics. In addition, recent advancements in printing technologies have facilitated the manufacturers to expand their design catalog thereby offering more design options to the customers.

Application Insights

In 2019, residential application accounted for the largest market share in 2019 and is anticipated to expand at a CAGR of 4.3% over the forecast period. The evolving concept of home decor in the country, backed by the rising discretionary income is positively influencing the overall market growth. India is also witnessing a notable rise in the construction of multi-family residential homes, such as residential building clusters and residential complexes, which in turn is expected to positively influence the demand for wood and laminate floorings. In addition, rising demand for a premium apartment in metropolitan areas is expected to drive the growth.

India wood & laminate flooring market

The commercial application segment is anticipated to register a notable CAGR of 6.3% over the forecast period, especially in the hospitality sector. Increasing construction activities of luxurious hotels in the country by multinational hotel chains is expected to positively influence the product demand. In recent years, the wood and laminate floorings have witnessed a surge in office building structures to provide versatility in convenient fittings for working environments. In addition, laminates offer natural graphics and custom designs produced to match the interior designs of the office buildings.

India Wood & Laminate Flooring Market Share Insights

Vendors have been relying on partnerships with local distributors to expand their distribution capacities and to gain logistics support. Multinational companies from the U.S. and Europe are entering into partnerships with the local floor covering manufacturers and distributors to get a hold in the potential Indian market. Key participants with significant market share include Accord Floors, Armstrong World Industries, Avant, BVG, EGO Flooring, Eurotex, Greenlam Industries, Notion, Parkay Floors, Pergo, Quick-Step, Red Floor India, Surfaces India, Westwood, and Wood Floors India.

Report Scope

Attribute

Details

Base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Volume in Million Sq. Meters, Revenue in USD Million and CAGR from 2020 to 2027

Country scope

India

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at country level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the India wood and laminate flooring market report on the basis of product, and application:

  • Product Outlook (Volume, Million Sq. Meters; Revenue, USD Million, 2016 - 2027)

    • Wood Flooring

    • Laminate Flooring

  • Application Outlook (Volume, Million Sq. Meters; Revenue, USD Million, 2016 - 2027)

    • Residential

    • Commercial

    • Industrial

Pricing & Purchase Options

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • grand view research PCI DSS complaint grand view research paypal verified