New York, July 8 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Hardwood Flooring Global Market Report 2022” – https://www.reportlinker.com/p06284364/?utm_source=GNW
OG, Harris Wood, Formica Group, Anderson, Boral, Brumark, DuChateau, Eco Timber, Flooring Innovations, Inc., Gerflor Group. and Goodfellow, Inc.
The global hardwood flooring market is expected to grow from $45.16 billion in 2021 to $48.26 billion in 2022 at a compound annual growth rate (CAGR) of 6.86%. The hardwood flooring market is expected to reach $58.03 billion in 2026 at a CAGR of 4.72%.
Hardwood flooring consists of sales of hardwood flooring by entities (organizations, independent traders and partnerships) that are produced with readily available and very hard wood species. Examples of hardwood flooring include oak flooring, maple flooring, and cherry flooring.
Hardwood floors are very attractive, inexpensive and provide a premium finish compared to other flooring materials.
The main types of hardwood floors are solid wood and engineered wood. Solid wood is the preferred flooring option as it is made from solid maple, oak or walnut wood.
The design perspectives consist of planks, slats, parquet and others depending on the type of design preferred in hardwood flooring. In addition, the raw materials used are red oak, white oak, maple and others.
Hardwood flooring is distributed through offline stores and online stores.
North America was the largest region in the hardwood flooring market in 2021. Asia-Pacific is expected to be the fastest growing region during the forecast period.
Regions covered in the Hardwood Flooring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle -East and Africa.
The rapid inclination towards aesthetically appealing and sophisticated interiors by residential and commercial building customers is driving the growth of the hardwood flooring market. , using recyclable materials and chemical-free materials.
According to research published by Pinterest, 60% of users have used the visual social network to make home decor purchasing decisions. The change in customer preferences is expected to boost the use of hardwood flooring in interior design in different sectors across the world.
Technological advancement is a key trend that is gaining popularity in the hardwood flooring market. Manufacturers operating in the hardwood flooring market are launching innovative products to offer high performance hardwood flooring and products that are resistant to various external factors.
For example, in June 2019, Lamiwood Flooring Company, an Indian parquet supplier, launched Holz Parket Hardwood Floors in the Indian market. These Holz Parket hardwood floors are treated to resist humidity and temperature changes.
In February 2022, Paceline Equity Partners, a Dallas-based private equity manager, acquired AHF Products for an undisclosed amount. This acquisition by Paceline Equity Partners aims to accelerate its penetration into new products, brands and innovative technologies.
AHF Products is a United States-based company with a strong family of brands serving the residential and commercial markets that provides hardwood flooring.
Countries covered in the Hardwood Flooring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, Korea of the South, the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06284364/?utm_source=GNW
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