Wooden Floor Market to Witness Significant Growth

18/mar/2020 12:02:59 Automotive Market Research Reports Contatta l'autore

The global wooden floor market size is touted to have a significant growth at 5.5% CAGR during the estimated years (2017-2023). Wooden flooring is manufactured of timber or other wood and comes in assorted species, cuts, colors and styles. It is used either for aesthetic or structural purpose. The natural sheen, warmth under the foot and rich colors are the key characteristics that are making heads turn. The class and ethereal beauty of wooden floors is totally unmatched. No matter it is laminate or hardwood, these floors are worth considering owing to its look, value, timelessness, easy maintenance and versatility. With regards to the different types of wooden floors available, the list includes cork, bamboo, engineered hardwood, solid hardwood and laminate.

There are abundant factors that is propelling the growth of the wooden floor market. These factors as stated by the Market Research Future (MRFR) report include burgeoning need for building products that has low maintenance and is environmentally friendly, new construction, retrofitting and renovation activities for infrastructure and buildings, and increase in disposable income especially in emerging economies. On the contrary, unstable cost of wood and availability of substitutes are factors that may deter the growth of the wooden flooring market during the estimated years.

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Market Segmentation

MRFR report provides an extensive segmental analysis of the wooden floor market on the basis of type and end user.

Based on type, it is segmented into laminate floor, bamboo floor, engineered floor, solid hardwood floor and others. Of these, solid hardwood floor will have the largest share in the market over the estimated years. Wood that is pressure-treated is long lasting and durable and mostly popular for its endurance. Solid hardwood has greater hardness, no wonder it is widely used in residential buildings.

Based on end-user, the wooden floor market is segmented into non-residential and residential. Of these, the residential segment will dominate the market over the estimated years and is likely to grow at the highest CAGR. Growing demand for such floorings across residential segments owing to rising consumer disposable income and changing consumer lifestyle is contributing towards the market growth. Besides, growing demand for wooden floor across the construction sector coupled with increased home renovation and improvement projects will also propel its demand. The non-residential sector is also anticipated to have a significant growth over the estimated years owing to increase in retail sector, education, corporate offices and hospitality.

Regional Analysis

By region, the wooden floor market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, North America will remain the driving force in the market over the estimated years owing to increasing need for building products that needs low maintenance. US is the key contributor here. Strong development of residential and commercial structures in the United States is predicted to boost the market growth in this region. Besides, preference of consumers for green buildings along with sustained investments especially in the commercial real estate is likely to have a positive influence on the market growth. The wooden floor market in Europe will have the second major share over the estimated years owing to rising rehabilitation and repair activities of the current infrastructure. In the APAC region, the wooden floor market is predicted to expand at the highest CAGR over the estimated years. India, Singapore, Japan and China are the key contributors here. Growing non-residential and residential activities here is likely to boost the market growth. Also, growing awareness regarding the benefits of using wooden floor is predicted to offer a lucrative opportunity for the growth of the market. The wooden floor market in the Middle East is predicted to have a significant contribution over the estimated years owing to increasing growth in the construction industry coupled with changing lifestyle.

Key Players

Leading players profiled in the wooden floor market include First Asia Industrial Co., Ltd. (China), Lord Parquet (China), BOEN (U.K.), Greenlam Industries Limited (India), Tarkett S.A. (France), Nature Home Holding Company Limited (Hong Kong), Mohawk Industries, Inc. (U.S.), Mannington Mills, Inc. (U.S.), Khrs Holding AB (Sweden), Brumark (U.S.), Boral Limited (Australia), Berkshire Hathaway Company (U.S.), Beaulieu International Group (Canada) and Armstrong Floor, Inc. (England).

May 2019- Leading wooden flooring brand in India, Span Floors has launched its latest solid wood floor collection. It is minimalistic, fashionable and most importantly 100% natural. This collection will be available in some amazing color tones such as grey, black, earthy brown with white, medium natural tones and airy light tones that will wonderfully complement any palette and interior style.

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