Laminate Flooring : State of the Industry 2024

Conventional wisdom would suggest that softening conditions in the new home construction market over the past eight to 10 months might put a damper on laminate flooring sales in that bellwether sector. After all, it is estimated that new residential construction accounts for anywhere between 15%–18% of category sales in the U.S. However, several major suppliers said that was not the case. While builders have certainly scaled back on the overall number of planned projects, they are continually looking for ways to lower construction costs for those builds that are, in fact, moving forward. 

One key strategy that builders are employing entails sourcing lower-cost building materials to make homes more affordable amid higher mortgage rates. That fits right into the wheelhouse of the laminate category—a product segment that continues to enjoy a renaissance of sorts. “The reports of a laminate resurgence are [undeniable] in the industry,” president of the North American Laminate Flooring Association . “Wood-based floors—including and especially laminate—are selling well.”

That sentiment is largely supported by the laminate flooring manufacturing community. “Our retail, trade and builder partners tell us they see an increased demand for laminate—so we anticipate a surge in sales,” “With three new collections in the category,now offers high-performing waterproof products in both hardwood and stone/tile looks, offering a cost-effective solution across all interior design styles.” 

 which is also putting more focus on the laminate portion of its total hard surface product offering, also attested to the segment’s resurgence. “Laminate flooring is definitely on the upswing, and we see nothing but continued growth in the category”. “We made significant investments last year by adding laminate production at our factory, and we will continue adding more decors to the category by introducing new collections.”

here’s no doubt that the laminate flooring category has reaped the rewards of greater acceptance among end-use sectors such as the builder market. At the same time, the category has also benefitted from potential homebuyers staying on the sidelines due to higher interest rates. Logic being: why trade a mortgage based on 3%-4% interest for one in the 6%-7% range? As a result, those homeowners who choose to stay in their homes for the foreseeable future are investing in more affordable flooring options for their renovation projects, thereby sustaining residential remodeling activity. 

Again, categories like laminate flooring hold the advantage here. “Consumers are choosing laminate for a variety of reasons—it’s beautiful, sustainable and readily available,”   “The technologies are at such a place now where you’re getting really high style and design, great texturing and low gloss. Not only do they look really good, but they also perform well.” 

Another positive attribute of laminate that’s swaying customer influence, is the product’s sustainability story. “We really do see that as a key factor in a homeowner’s thought process for picking a floor. They’re asking questions like: ‘What is it doing for the environment?’ ‘Is it sustainable?’ ‘Does it have recycled content?’ We’ve seen a lot of interest in the category and specifically our products because of the carbon-negative aspect of what we can do.”