A three-pronged approach was followed for deducing the India wood and laminate flooring market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for India wood and laminate flooring market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of India wood and laminate flooring market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The India wood and laminate flooring market was categorized into three segments, namely product (Wood Flooring, Laminate Flooring), application (Residential, Commercial, Industrial) and region (India).
The India wood and laminate flooring market was segmented into product, application and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The India wood and laminate flooring market was analyzed at a regional level. The region was divided into India, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-five countries, namely, India.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The India wood and laminate flooring market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Armstrong World Industries Inc. - The company is engaged in designing, manufacturing, and sale of ceilings, walls, and suspension system solutions for the construction and renovation of commercial and residential buildings. AWI offers interior solutions for homes, offices, healthcare facilities, classrooms, stores, and restaurants. The company’s product portfolio includes ceilings & walls for commercial spaces, ceilings & walls for residential spaces, and building solutions & roof decks. The company operates through two business segments including the mineral fiber segment and architectural specialties segment. Mineral fiber provides suspended mineral fiber and soft fiber ceiling systems for commercial and residential applications. Architectural specialties provide ceilings and wall solutions for commercial purposes and products are available in a variety of materials, including metal and wood, as well as a variety of colors, forms, and patterns. The company had 16 production sites in two countries as of December 31, 2020, with 14 plants in the United States.
Greenlam Industries Ltd. - Greenlam Industries Ltd. was established and headquartered in Delhi, India. The company is engaged in designing and manufacturing surfacing products including laminate, compact laminate, restroom cubicles, lockers, cladding solutions, decorative veneer, engineered wood flooring, or engineered doors & frames. The company operates through three business segments including veneers, flooring, and engineered door business. The company manufactures 15.62 million laminate sheets, 4.2 million square meters of veneers, 1 million square meters of engineered wood floors, and 120,000 doors and frames per annum. Greenlam has an extensive distribution network in the country, with over 14,000 distributors, dealers, and retailers. It has a presence in over 100 countries in the international market, with its own marketing and distribution system in 14 countries. Greenlam products are manufactured in two locations including Behror, Rajasthan, and Nalagarh, Himachal Pradesh.
Notion Flooring - The company is engaged in supplying wood flooring solutions for interior and exterior applications. It provides around 1,000 products including laminate floorings, engineered hardwood flooring, Solid Outdoor Decking, Facades / Cladding, Decking Tiles, and Accessories. The laminate floorings portfolio includes the premium laminate series. Premium Laminate series offers contemporary and technologically advanced flooring with high gloss and ultra-matte surfaces and a laminate inlay. It is machined to accuracy and comes in a single size. It also provides accessories and floor care products which include an aluminum door profile, sound block, skirting, beading, click sealer, laminate cleaner, stain remover, and indoor hard wax oil. The key clients of the company include Yamaha, Jaypee Group, ABP, Lacoste, Indian Oil, Vodafone, Sahara, and Apple. The company has its presence in 30 locations in India including Delhi, Hyderabad, Kolkata, Pune, Bangalore, Chennai, Mumbai, Jaipur, and Chandigarh.
Quick-Step Flooring - The company is engaged in providing flooring solutions including laminate and wood floors as well as skirting boards and finishing profiles. Quick-Step’s glueless uniclic installation system is one of its most popular products as Quick-Step is also known for creating glue-free laminate. Until the mid-1990s, when the company introduced the uniclic glue-free, integrated click system, all laminate boards had tongues and grooves that required to be bonded together. Quick-Step provides flooring solutions to a variety of residential spaces such as bathroom bedroom dining room hallway flooring, home office kitchen living room, and nursery. The parent organization of Quick-Step Flooring is UNILIN, headquartered in Weilsbeke, Belgium, which is a part of Mohawk Industries. UNILIN brands include Quick-Step, Moduleo, Utherm, Pergo, Evola, Xtratherm, and ClicWall.
Surfaces India Flooring Pvt. Ltd - The company is involved in the exporting, importing, and distributing of laminated and wood floorings utilized in residential and commercial sectors. The company’s product portfolio includes flooring, paneling, and ceiling solutions such as laminated wooden flooring, carpet tiles, greenwall, engineered wood flooring, wallpapers, WPC decking, and vinyl flooring. In addition, it also offers wall panels, artificial grass, solid wood flooring, outdoor decking, and surface flooring products. Before entering into the floorings industry Surfaces India Floorings was into manufacturing of granite, marble, and plywood industry and used to cater to builders, government, and private institutions. The company has launched its brand known as Interex. Under this brand, the company offers wall panels and ceilings imported from Malaysia, as well as solid wood and vinyl flooring, giving customers a wide range of flooring, paneling, and ceiling options. The company offers products from both in-house and external brands including Floorwalk Engineered Wood Flooring, Floorwalk WPC Decking, Interex, Kaindl, Pergo, and Magnum. The primary customers of the company include Sun Pharmaceuticals Ltd, Siemens Ltd, BARC, Great Eastern Shipping Ltd., and Standard Chartered Bank.
Westwood Flooring - The company is engaged in the manufacturing and distribution of hardwood floorings. The company provides a broader range of solutions for various applications, ranging from households to hotels, clubs to sports stadiums, and workplaces to squash courts. The company is the official distributor for Bona’s, a company engaged in providing wooden floors and accessories for wooden floors. Its product range includes wood floor adhesives, wood floor finishings, floor sanding machinery, abrasives, and wood floor maintenance products. Westwood Flooring has worked on various projects for residential and commercial spaces, including work for the Taj Group of Hotels, Muthoot Group, Apple USA, and JW Marriott. The company has a distribution network in almost all main cities of India.
Avant Flooring - The company is engaged in the manufacturing of flooring, roofing, and wall paneling for commercial and residential sectors. The company also provides accessories including skirting, aluminum profiles, underlay, and protection film as well as several support services including installation and maintenance. Avant Signature Flooring is a collection of floor panels that offer natural aesthetics. They are made of laminated PVC and offer resistance to scuff, scratch, stain, rot, or distort while imitating the elegance of hardwood in the spaces they are installed. Avant's interior design solutions have been used in renowned hotel chains, houses, restaurants, resorts, yachts, cruise ships, hospitals, and water bus terminals. The company has a presence in UAE, India, and China.
Parkay Floors - The company is primarily engaged in the manufacturing of flooring components and provide waterproof and petproof flooring solutions. The company’s product portfolio includes flooring solutions for surfaces, moldings, and accessories. Surface solutions offer porcelain floorings, waterproof composite vinyl, laminate flooring series, and outdoor flooring solutions. In addition, moldings offer trims and transition moldings; and accessories offer various installation supplies. Parkay Floors also provides XPS, XPR, XPL, and DEC flooring series. The porcelain flooring collection provides parkay grand HD coastawood porcelain, parkay grand HD marina wood porcelain, parkay grand HD regatta wood porcelain, parkay petra tile, and parkay Italy Tile. Outdoor surface collection provides solutions for decking, siding, deck tiles, porcelain pavers, and artificial turf.
EGO Flooring Private Limited - The company is engaged in the manufacturing of wooden flooring and wall décor solutions. The Product portfolio of the company includes laminate, engineered wood, and vinyl flooring solutions. The company’s clients include corporate groups such as hotel chains, builders, and retailers like Holiday Inn, Royal Orchid Hotels, Radisson Hotel, Park Inn, Hilton Resorts & Spa, JW Marriot, ONGC, Pantaloons, Infosys, Reliance, Prestige constructions, Lodha Group. The three primary verticals of the EGO group are Ego Flooring Pvt. Ltd., Blue Mango Seating Pvt. Ltd., and Ego Wall Décor Pvt. Ltd. It has partnered with IVC Group and Gamrat, respectively, from Belgium and Poland for marketing and distribution of these products. The company has a wide network of 15 branches, 35 distributors, and 300 dealers with 40 showrooms across 35 cities in India.
Accord Floors - The company is engaged in the manufacturing, sales, and export of a wide range of wall panels, acoustic wood panels, and deck flooring solutions. Accord Floors exhibits an extensive product portfolio, which includes pine wood flooring, wooden wall panels, door profiles, wooden wardrobes, wooden tiles, and wooden furnishings. The company also provides a wide range of timber products including solid wood flooring, engineered wood flooring, furniture, parquets, cladding, decking, and panels. The company has 10 branches located across India in Delhi, Bangalore, Gurgaon, Mumbai, Hyderabad, Ahmedabad, Ludhiana, Pune, Chennai, and Sri Nagar. It exports around 50% of its annual production capacity.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2021, historic information from 2017 to 2020, and forecast from 2022 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2021 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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