Laminate Flooring Manufacturing In India On Rise

person access_time3 27 May 2024

Increasing housing demand on average (ranging Rs 50 Lakh to 1 Crore a flat) has been pushing demand for laminated flooring in the India market mainly in Metros and big cities. There are record sales of residential flats noted in Year 2023 in different cities in India. The laminated flooring demand has reported to grow approx 18%, as per market report.

The top eight residential markets in the country have continued to display robust growth. During Q3 2023, there was a strong surge in demand, with sales of 82,612 residential units, marking a 12% year-on-year (Y-oY) growth. The mid and high-end categories of residential properties experienced increased sales momentum in this period. Properties priced over Rs 1 core saw a 39% Y-o-Y increase, while the mid-segment, ranging from Rs 50 lakh to Rs1 crore, witnessed a 14% year-on-year rise.

The growth in residential demand has been adding to the demand of laminated Flooring because in every household, the home owners wish to apply laminated flooring covering approx 60% of area, says a Delhi based Interior Contractor.

In the Laminated Flooring segment, Action Tesa floors lead in the market having pan India retail presence. Bangalore based Surya Click Floor has also noted robust demand. Director Mr. Rushil Thakkar says that he has noted good growth in demand in FY 24 for his Flooring business, and we will increase our production capacity and market in current FY.

Greenpanel Floor is also present in this market with pan India retail segment. Crossbond has entered into this segment in 2022 and is continuously growing. Mr. Aman Agarwal of Crossbond says that he has been receiving good response and recently he has introduced a Herringbone collection in his range.

As per market report, CenturyPly, Greenply, Nuwud, etc are planning to enter into the Laminated Flooring manufacturing business and they may add this product in his basket in 2024-25.

Domestic laminated producers have been noted to grow with adding more designs and innovation with a good supply chain whereas the major market has been served by imported players in these categories.

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