San Francisco, California, June 17, 2015 (GLOBE NEWSWIRE) -- The global wood & laminate flooring market is expected to reach USD 92.64 billion by 2020, according to a new study by Grand View Research, Inc. Technological advancements have led to the development of new innovative products and do-it-yourself (DIY) installation techniques, which has substantially widened the scope across residential as well as commercial flooring applications. Increasing demand in the new construction and home improvement sectors is expected to be the key driving force for the wood & laminate flooring market over the forecast period.
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Raw material costs have had a significant impact on the wood & laminate flooring industry. The volatile prices of wood and other raw materials and the increasing costs of production are expected to challenge wood & laminate flooring industry growth over the forecast period. Stringent laws and regulations against deforestation by governments across the globe and the consequent need of imports of raw materials have shrunk manufacturers' profits to a large extent. Increasing concern over environmental impact has considerably affected the wood & laminate flooring market.
Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global wood & laminate flooring market on the basis of product, application, and region:
Wood & Laminate Flooring Product Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
Wood & Laminate Flooring Application Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
Wood & Laminate Flooring Regional Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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