DUBLIN, October 8, 2021 /PRNewswire/ — The “Wood Flooring – Global Market Trajectory & Analytics” report has been added to from ResearchAndMarkets.com offer.
Global wood flooring market to reach US$55.8 billion by 2026
Amid COVID-19 crisis, Global Wood Flooring Market Estimated at US$43.2 billion in 2020, is expected to reach a revised size of US$55.8 billion by 2026, growing at a CAGR of 4.3% over the analysis period.
Engineered wood, one of the segments analyzed in the report, is expected to grow at a CAGR of 4.6% to reach US$37.3 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the solid wood segment is readjusted to a revised CAGR of 3.6% for the next 7-year period. This segment currently accounts for a 37% share of the global wood flooring market.
The engineered wood segment dominates the market, due to the increasing number of manufacturers who prefer this product due to its positive attributes including cost effectiveness and dimensional stability. Engineered wood offers a good substitute for hardwood and concrete; thus resulting in increased demand for the segment. The solid wood segment is expected to benefit from the increase in commercial applications of solid wood in public places such as theaters, restaurants, spas and hotels.
The evolution of lifestyles, the growth of the urban population in Asia Pacific region, increasing spending on home renovations and improvements and increasing consumer demand for eco-friendly materials are some of the major growth drivers that are increasing the demand for wood flooring.
With refinancing, housing and renovation trends remaining strong, the outlook for timber sales is promising. The generally positive outlook and stable demand for wood flooring is also boosted by advances in materials and technology, including water-resistant products and digital printing. New constructions and greater penetration of high-end markets are also boosting the market outlook.
Going forward, the preference for green products is expected to revive consumer interest and reinvigorate demand patterns. Wider planks, long planks, lighter and natural wood colors and matte gloss finishes are some of the emerging trends seen in the wood flooring space. The growing popularity of modern minimalist design is a prime factor driving the demand for white oak flooring.
Manufacturers are developing engineered products with hard cores such as minerals and strong polymers to endow wood flooring with waterproof properties. Adding coatings to engineered products seals the edges.
Main topics covered:
1. MARKET OVERVIEW
- The wood flooring market continues to enjoy the unparalleled aesthetic appeal of wood
- Main advantages of parquet
- Summary of mega trends benefiting market demand
- Product Type and Regional Market Analysis
- Engineered wood dominates the market
- Solid wood – Another important market
- Europe and the United States holds a significant share of the global market
- Developing countries to drive future growth
- The economic slowdown caused by COVID-19 weighs on the construction sector
- Infrastructure spending to get economies impacted by COVID-19 back on track
- Market Outlook
- Home Projects to stimulate business growth
- Likely price increases
- Innovations to pursue
- Digital Driven Sales
- Focus on design improvements
- Global market shares of competitors
- Market Players Focus on Adding Value to Gain Share
- Aggressive marketing: a critical factor for the durability of hardwood floors
2. FOCUS ON CERTAIN PLAYERS (Total 274 featured)
- AHF SARL
- Barlinek S.A.
- Beaulieu International Group
- Boral Limited
- Brumark Corporation
- Kahrs Group
- Mannington Mills, Inc.
- Mohawk Industries, Inc.
- PT Dharma Satya Nusantara Tbk
- Shaw Industries Group, Inc.
- SWISS KRONO Group
- Tarkett, Inc.
3. MARKET TRENDS AND DRIVERS
- Striking trends of 2021 are causing a stir in the global wood flooring market
- Latest Trends in Wood Flooring Materials to Amplify the Look of Home
- cork floor
- Engineered wood floors
- Wood floors grown and made in America
- Reclaimed wood floor
- Latest Trends in Wood Flooring to Amplify the Look of Home
- White Oak Flooring
- European white oak floors
- Color options are trending in the wood flooring market
- Blonde flooring
- Honey wood floor
- Gray wood floors
- Greige wood floors
- Whitewashed wood floors
- Wide variation remains the hallmark of the latest wood flooring texture trends
- Aged wooden floor
- Hand-scraped floors
- Brushed wood floors
- Finishing trends shine in the wood flooring market
- Smoked wood floors
- Matte finish wood floor
- Oiled Parquet
- Satin wood floor
- Wood floors finished on site
- Wood Flooring Layout and Pattern Trends
- Herringbone wood flooring
- Wide plank wood floors
- The “green” image of wood flooring promotes growth
- Go green: The new mantra for plywood flooring manufacturers
- Growing adoption of sustainable floor decoration materials is driving demand
- Prefinished and reclaimed wood is gaining momentum
- The parquet industry embraces digitization
- Proliferation of Design Blogs and Trade Shows: Key Factors Driving Consumer Interest in Hardwood Flooring
- Product innovations drive growth
- Residential replacements: the main driver of demand
- Engineered wood finds wider preference
- Advantages of engineered hardwood
- Long-term home value supports demand for hardwood floors
- Advantages of hardwood
- Hardwood floors complementing the latest interior design trends
- Transitional flooring: flush hardwood and tile in the same space
- Innovations in Manufacturing Technologies to Drive the Growth of Wood Flooring
- Growing demand for innovative interlocking systems for easy flooring installation
- The solid wood construction technique offers potential
- Laminate flooring: the fast emerging substitute for wood flooring
- Macroeconomic trends influencing demand dynamics
- Exponential increase in the world’s urban population
- World population growth
- Booming middle class population
- Increase in the standard of living
- PRODUCT PRESENTATION
4. GLOBAL MARKET OUTLOOK
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/i8h60s
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SOURCE Research and Markets