The global hardwood flooring market reached a value of US$43.4 billion in 2020 and is projected to grow at a CAGR of 4.5% during the period 2021-2026.
SHERIDAN, WYOMING, USA, Feb. 21, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Hardwood Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2021-2026,” the global hardwood flooring market reached a value of US$43.4 billion in 2020. Looking ahead, IMARC Group expects the market to grow at a CAGR of 4.5% over the period 2021-2026. Hardwood floors are made from real wood and preserve the unique look and texture of wood. It is very durable in nature, easy to install and requires little to no routine maintenance. In recent years, hardwood flooring has grown in popularity because it is easier to repair and refinish than laminate flooring and can be recycled without causing harm to the environment.
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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Nowadays, manufacturers are introducing cutting-edge technologies to offer high-performance hardwood floors. This represents the main factor supporting the growth of the market. In addition, hardwood floors emit zero VOC emissions and use formaldehyde-free adhesives. Hence, consumers opt for hardwood flooring as it helps to make it safer than other types of flooring. In addition, the increasing number of residential space construction projects and the development of advanced infrastructure contribute to the increase in sales of these flooring materials. Due to these factors, the market is expected to witness positive growth in the coming years.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the major players operating in the market.
Some of these key players include:
• AHF, LLC
• Beaulieu International Group
• To classify
• FRITZ EGGER GmbH & Co. OG
Breakdown by raw material:
• Red oak
• White oak
Breakdown by end-use sector:
• Residential sector
• Commercial sector
Breakdown by region:
• North America (United States, Canada)
• Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)
Main highlights of the report:
• Market performance (2015-2020)
• Market Outlook (2021-2026)
• Impact of COVID-19 on the market
• Porter’s five forces analysis
• Historical, current and future market trends
• Market drivers and success factors
• SWOT analysis
• Market structure
• Value chain analysis
• Complete mapping of the competitive landscape
Note: If you need specific information that is not currently covered by the report, we can provide it to you as part of the customization.
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