Wood Flooring Market Outlook and Forecast 2027: Growth Factors, Trends, and Top Companies Analysis for Business Developm

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The global wood flooring market is cementing its foothold with gaining a substantial growth rate in the next few years, reveals Market Research Future in its comprehensive study.

The global wood flooring market is cementing its foothold with gaining a substantial growth rate in the next few years, reveals Market Research Future in its comprehensive study. The study also includes the driving forces, factors, and segments that are taking the market towards growth graph in the coming years.

The prevalent trend of green buildings and growing consumer’s preference on this is flourishing the global wood flooring market over the years. Such a considerable shift is making them incline towards environmental concerns than usual construction. It is the construction sector, which is witnessing whistle-stop advancements from the range of raw materials to all the other materials friendly to the environment.

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Key Players

The key players effective in the global wood flooring market are listed as The Armstrong Flooring, Inc. (US), Mannington Mills, Inc. (US), Mohawk Industries (US), Pergo (US), Shaw Industries Group, Inc. (US), Q.E.P. Co., Inc., Wickes Ltd (US), Home Legend, LLC, Somerset Hardwood Flooring, and Provenza Floors, Inc.

Market Drivers Trends

The global wood flooring market is at utmost expansion due to factors such as growing construction of residential buildings, across the globe. Wood flooring is becoming finer with technology that is delivering everything from printing technology to improve the quality of the wood. Thus, it is the technology of printing that has surged the demand for wood flooring market in the past few years, which would also anticipate the market of wood flooring to expand double-digit during the forecast period.

The manufacturers that specialize in the production of wood flooring products thus offer a wide range of colors and designs that enhances the aesthetics of interiors. Therefore, this needs research and development, where its increase in terms of innovative designs and service has forced the market to flourish exponentially at a higher growth rate. Other than this, the growing trend of repair and maintenance as well as new construction options and its reliability have also contributed much in the growth of the global wood flooring market.

As an add-on, the durability offered by wooden-based floors is termed to be easily installed, thus making it highly preferable among the customers in the entire flooring industry, which is another essential factor driving the market to grow swiftly and, in the future, as well. On the flip side, the consideration of fluctuating costs of raw materials could pose as a hindrance to the growth of the global wood flooring market during its expansion period.

Intended Audience:

• Raw Material Suppliers
• End Users
• Traders and Distributors
• Regulatory Bodies

Market Segmentation

The global wood flooring market, according to the study, has been segmented based on product and application.

By the mode of product, the global market is split into solid wood and engineered wood. Wherein, solid wood segment appeared as the largest segment and is predicted to retain its position by 2024, attributing to its moderate price. On the other side, the engineered wood segment is likely to observe maximum growth rates owing to its favorable features such as dimensional stability and cost-effectiveness, making the product most preferable amongst the manufacturers.

By the mode of application, the market splits into residential, commercial, and industrial. Wherein, the residential application segment held for the largest market share in 2018 and would retain its position by 2024 attributing to the rising population in developing economies, such as China, India, and Brazil. These countries are driving the demand for residential buildings, where the residential application segment is likely to display a bearable growth rate over the forecast period.

Regional Outlook

Regionally, the global wood flooring market’s study has been spanned across the main regions of North America, Europe, Asia-Pacific, and rest of the world (Row).

Out of these, Asia-Pacific held the largest market share of approximately 50% In 2018. The region is now the fastest-growing market with the expectation to retain its leadership over the estimated period. The swelling investments in infrastructural construction projects in public and private sectors in developing countries such as China and India are also expected to create lucrative openings in the wood flooring market in the region.

North America held for the second-largest market, which is now to exhibit sustainable growth over the assessment period. The region is also noted to be positively influenced by the presence of significant market players, mainly in the US who are continuously contributing to the market to expand in the coming years.

In the last, Europe also held a market share of approximately 23%, in 2018’s overall wood flooring market, which is probable to maintain its position till 2023. It is the booming construction industry in the residential, commercial, and industrial sector which is helping the market to expand rapidly, where it is now expected to contribute largely to the demand in the market of this region.

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Table of Contents

1 Executive Summary

2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model

3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Threat of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power of Buyers
3.2 Value Chain/supply Chain Analysis

Continued........

List of Tables

Table 1 Global Wood Flooring Market, by Region, 2019–2024
Table 2 North America: Wood Flooring Market, by Country, 2019–2024
Table 3 Europe: Wood Flooring Market, by Country, 2019–2024
Table 4 Asia-pacific: Wood Flooring Market, by Country, 2019–2024
Table 5 Row: Wood Flooring Market, by Country, 2019–2024
Table 6 Global Wood Flooring Market, by Product, by Region, 2019–2024
Table 7 North America: Wood Flooring Market, by Product, by Country, 2019–2024
Table 8 Europe: Wood Flooring Market, by Product, by Country, 2019–2024

Continued......

List of Figures

Figure 1 Research Process of Mrfr
Figure 2 Top-down and Bottom-up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Wood Flooring Market Share, by Product, 2018 (%)

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