Wooden Floor Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Wooden Floor Market Information Report, By Type (Solid Hardwood Floor, Engineered Floor, Bamboo Floor, Laminate Floor and Others), By End User (Residential and Non-residential) and By Region - Forecast to 2030”.
Key Players
Eminent industry players profiled in the global wooden floor market report include
- Armstrong Floor
- Inc. (England)
- Beaulieu International Group (Canada)
- Berkshire Hathaway Company (U.S.)
- Boral Limited (Australia)
- Brumark (U.S.)
- Khrs Holding AB (Sweden)
- Mannington Mills
- Inc. (U.S.)
- Mohawk Industries
- Inc. (U.S.)
- Nature Home Holding Company Limited (Hong Kong)
- Tarkett S.A. (France)
- Greenlam Industries Limited (India).
- BOEN (U.K.)
- Lord Parquet (China)
- First Asia Industrial Co.Ltd. (China)
- Among others.
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Market Research Future’s Review on Wooden Floor Market
The wooden floor market will grow at a 5.5% CAGR by 2027, states the latest Market Research Future (MRFR) report.
COVID-19 Analysis
Owing to the government imposed lockdown and work from home trends people are spending more and more to renovate their homes of which wooden floors is amongst one. On the other hand the restrictions on sports activities due to the pandemic that demand wooden flooring have restricted the market growth.
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Drivers
Demand for Wooden Products in Construction Activities to Boost Market Growth
The supportive government policies encouraging the use of easily decomposable and natural products like wood for the construction of new buildings and renovation activities will boost market growth over the forecast period.
Opportunities
Demand for Consumer-Friendly Building Designs to offer Robust Opportunities
The demand for consumer-friendly building designs such as that made of wood will offer robust opportunities for the market over the forecast period. Wood-based flooring is highly durable and scratch and impact resistant and also suffices the consumer need for texture aesthetics and natural visual.
Restraints
Availability of Substitutes to act as Market Restraint
The availability of substitutes like tiles may act as a market restraint over the forecast period.
Challenges
Fluctuating Raw Material Prices to act as Market Challenge
The fluctuating raw material prices, increasing cost of wooden floorings, and stringent regulations may act as market challenge over the forecast period.
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Market Segmentation
The global wooden floors market is bifurcated based on type and end user.
By type, the engineered floor segment will lead the market over the forecast period as they need less energy over other flooring materials. Besides, it results in fewer greenhouse gases as well as other air pollution emissions thus making them a preferred pick for sustainable designs of flooring.
By end user, the residential segment will dominate the segment over the forecast period for the growing need for wooden floor across the residential segment for increased consumer disposable income and changing consumer lifestyle. Besides, the growing need across the construction industry coupled with home renovation and home improvement projects are also adding to the segmental growth.
Regional Analysis
North America to Head Wooden Floor Market
North America will head the wooden floor market over the forecast period. Large living spaces that need regular laminating, the high regulations and standards for sustainable development, people’s desire to showcase the beauty of wood, rise in the number of villas and castles, extensive availability of raw materials in France, Germany, Mexico, Canada, and the US, and the presence of major market players are adding to the global wooden floor market growth in the region. Besides, high product utilization in the decoration and construction of new residential structures, increasing investment in the renovation and development of tourism infrastructure in Mexico and the US, the reversal in the economic cycle, growing need for low maintenance building products, strong development of residential and commercial structures in the US, sustained investments in commercial real estate, and consumer preference for green buildings are also adding to the market growth.
APAC to Have Favorable Growth in Wooden Floor Market
The APAC region will have favorable growth in the wooden floor market over the forecast period. Growing number of households, fast easy installation of wooden floors, wide accessibility of colors, shapes, and sizes of wooden floors, increase in protection offered to subfloors in Japan, India, and China, as well as other countries in South East Asia, rapid urbanization, resulting real estate and housing development are adding to the global wooden floor market growth in the region. Besides, the preference for tropical wood flooring in luxurious, beautiful, and rich design, launch of cost-effective engineered wood flooring solutions, expanding middle-class and their shift in attitude towards flooring decors, rising investments in infrastructural construction projects in the private and public sectors in India and China, increase in home ownerships, increasing need for wooden floor from commercial and residential sectors, and rising investments in construction activities and also remodeling repairing work activities are also adding market growth.
Segmentation of Market covered in the research:
Wooden Floor Market Information Report, By Type (Solid Hardwood Floor, Engineered Floor, Bamboo Floor, Laminate Floor and Others), By End User (Residential and Non-residential) and By Region - Forecast to 2030
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
