Wood Flooring Market : Technology Advancements, Industry Insights, Trends And Forecast 2033

Posted by Amruta Pritam on May 9th, 2024

Overview and Scope

Wood flooring is a flooring product that is manufactured from timber or other types of wood. This wood flooring is used for insulating the house and providing an aesthetic look to the house flooring.

Sizing and Forecast

The wood flooring market size has grown strongly in recent years. It will grow from .39  billion in 2023 to .48  billion in 2024 at a compound annual growth rate (CAGR) of 6.1%.  The  growth in the historic period can be attributed to aesthetic appeal and natural look, housing construction and renovation, consumer preference for durability and longevity, environmental awareness and sustainability, changing interior design trends.

The wood flooring market size is expected to see strong growth in the next few years. It will grow to .56  billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.  The growth in the forecast period can be attributed to rising demand for customization, green building standards and certifications, health and wellness concerns, e-commerce and online retail, economic factors and construction industry. Major trends in the forecast period include preference for wide planks and unique textures, customization and personalization, popularity of reclaimed and vintage wood flooring, increased demand for engineered wood flooring, green labeling and consumer awareness.

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Segmentation & Regional Insights

The wood flooring market covered in this report is segmented –

1) By Product: Solid Wood, Laminated Wood, Engineered Wood

2) By Distribution Channels: Home Centres, Flagship Stores, Speciality Stores, Online, Other Distribution Channels

3) By End Use: Residential, Commercial

Asia-Pacific was the largest region in the wood flooring market in 2023. The regions covered in the wood flooring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rising demand for housing facilities with eco-friendly designs is expected to propel the growth of the wood flooring market going forward. Eco-friendly housing facilities are housing features such as roof and flooring that is not harmful to the environment. Wood flooring is eco-friendly as it uses natural materials and can be used in sustainable housing. For instance, according to the Realtors and Sustainability Survey Report in March 2021, among 5,048 US members of the National Association of Realtors which included a population constituted 67% by sales agents and 14% by associate brokers to understand the sustainability issues faced, published by the National Association of Realtors (NAR), a US-based trade association of the real estate industry, in the USA, 65% of respondents said that the energy efficiency feature in property was very or somewhat valuable. More than 50% agreed that their clients were interested in sustainability and nearly one-third of the respondents were involved in selling or buying houses with green or eco-friendly features. Therefore, the growing demand for housing facilities with eco-friendly designs is driving the wood flooring market forward.

Key Industry Players

Major companies operating in the wood flooring market report are Mohawk Industries Inc., Armstrong Flooring Inc., Beaulieu International Group, Shaw Industries Group Inc., Boral Limited, Mannington Mills Inc., Tarkett S.A., British Hardwoods Flooring, Kährs Group, E.P. Co. Inc., Wickes Ltd., Home Legend LLC, Somerset Hardwood Flooring Inc., Provenza Floors Inc., Doma Flooring GmbH, East Teak Fine Hardwoods Inc., Forestry Innovation Consulting India Pvt. Ltd., Frank A. Edmunds & Co. Inc., Greenlam Industries Ltd., AHF Products, UNILIN Group, CLASSEN Group, Pergo, Flooring Innovations, EGGER Group, HomerWood Laminate Flooring, Barlinek SA, Brumark Corporation, Goodfellow Inc., Bruce Evans Flooring LLC

The wood flooring market report table of contents includes:

1. Executive Summary

2. Market Characteristics

3. Market Trends And Strategies

4. Impact Of COVID-19

5. Market Size And Growth

6. Segmentation

7. Regional And Country Analysis

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27. Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis

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