Global Wood Flooring Market Report 2022, Forecast to 2026 - Includes Profiles of 274 Competitors Including AHF, Brumark Corporation, Mohawk Industries, and Tarkett

DUBLIN, April 25, 2022–(BUSINESS WIRE)–The “Wood Flooring – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

Changing lifestyles, growing urban population in Asia-Pacific region, rise in spending on home renovation and enhancement, and increasing consumer demand for eco-friendly materials are some of the key growth drivers augmenting demand for wood flooring.

With refinancing, housing, and remodeling trends remaining strong, the prospects for wood sales are bright. The generally positive outlook and stable demand for wood flooring is also spurred by advances in material and technology, which include water-resistant products and digital printing. New construction and greater penetration into higher-end markets also boosts market prospects. Going forward, preference for green products is expected to kindle consumer interest and re-energize demand patterns.

Wider planks, long boards, lighter and natural wood colors, and matte sheen finishes are some of the emerging trends witnessed in the wood flooring space. The rising popularity of modern minimalist design is a prime factor spurring demand for white oak floors. Manufacturers are developing engineered products with rigid cores such as mineral and solid polymer to equip wood flooring with waterproof properties. The addition of coatings to the engineered products seals the edges.

Global Wood Flooring Market to Reach US$55.8 Billion by the Year 2026

Amid the COVID-19 crisis, the global market for Wood Flooring estimated at US$43.2 Billion in the year 2020, is projected to reach a revised size of US$55.8 Billion by 2026, growing at a CAGR of 4.3{ae4c731f0fa9ef51314dbd8cd1b5a49e21f1d642b228e620476f3e076dd7c050} over the analysis period. Engineered Wood, one of the segments analyzed in the report, is projected to grow at a 4.6{ae4c731f0fa9ef51314dbd8cd1b5a49e21f1d642b228e620476f3e076dd7c050} CAGR to reach US$37.3 Billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Solid Wood segment is readjusted to a revised 3.6{ae4c731f0fa9ef51314dbd8cd1b5a49e21f1d642b228e620476f3e076dd7c050} CAGR for the next 7-year period. This segment currently accounts for a 37{ae4c731f0fa9ef51314dbd8cd1b5a49e21f1d642b228e620476f3e076dd7c050} share of the global Wood Flooring market.

The engineered wood segment dominates the market, owing to increasing number of manufacturers preferring this product due to its positive attributes that include cost efficiency and dimensional stability. Engineered wood offers a good substitute for hardwood and concrete; thereby driving increased demand for the segment. The solid wood segment is expected to gain from increasing commercial applications of solid wood in public places such as theaters, restaurants, spas and hotels.

The U.S. Market is Estimated at $6.5 Million in 2021, While China is Forecast to Reach $9.9 Million by 2026

The Wood Flooring market in the U.S. is estimated at US$6.5 Billion in the year 2021. The country currently accounts for a 14.55{ae4c731f0fa9ef51314dbd8cd1b5a49e21f1d642b228e620476f3e076dd7c050} share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$9.9 Billion in the year 2026 trailing a CAGR of 6.7{ae4c731f0fa9ef51314dbd8cd1b5a49e21f1d642b228e620476f3e076dd7c050} through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7{ae4c731f0fa9ef51314dbd8cd1b5a49e21f1d642b228e620476f3e076dd7c050} and 3{ae4c731f0fa9ef51314dbd8cd1b5a49e21f1d642b228e620476f3e076dd7c050} respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6{ae4c731f0fa9ef51314dbd8cd1b5a49e21f1d642b228e620476f3e076dd7c050} CAGR while Rest of European market (as defined in the study) will reach US$10.5 Billion by the end of the analysis period.

The North American market for wood flooring is gaining from rising demand for bacteria-resistant and anti-slip flooring from the healthcare sector, especially in the US. The regional market is anticipated to also benefit from implementation of favorable standards by various states and organizations.

The Asia-Pacific market is propelled by rapid urbanization, rising investment in real-estate and housing development, changing attitude toward flooring decor, popularity of tropical wood flooring, and launch of cost-effective engineered wood flooring. Additionally, exporting finished products from Asia-Pacific to developed countries is likely to offer huge investments from Canada-based and the U.S-based furniture manufacturers.

Select Competitors (Total 274 Featured)

AHF LLC
Barlinek SA
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.

Key Topics Covered

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Impact of COVID-19 and a Looming Global Recession
2020: A Year of Disruption & Transformation
As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
Impact of COVID-19 on Flooring Industry Supply Chain
Impact of COVID-19 on the Wood Flooring Market
Global Market Overview
Wood Flooring Market Continues to Gain from Unrivaled Aesthetic Appeal of Wood
Primary Advantages of Wood Flooring
Mega Trends Benefiting Market Demand Summarized
Product Type and Regional Market Analysis
Engineered Wood Dominates the Market
Solid Wood – Another Significant Market
Europe and US Holds Significant Share of the Global Market
Developing Countries to Drive Future Growth
COVID-19-Led Economic Downturn Weighs on Construction Sector
Infrastructure Spending to Bring COVID-19 Hit Economies Back on Track
Market Outlook
Home Projects to Drive Growth for Companies
Likely Price Increases
Innovations to Continue
Digital-Driven Sales
Focus on Design Improvements
Competition
Market Participants Focus on Added Value to Gain Share
Aggressive Marketing: A Critical Factor for Sustenance of Hardwood Flooring
Recent Market Activity
World Brands

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

The ‘Green’ Image of Wood Flooring Lends Growth
Go Green: The New Mantra for Plywood Flooring Manufacturers
Increasing Adoption of Sustainable Floor Decorative Materials Spurs Demand
Pre-Finish and Reclaimed Wood Gathers Momentum
Wood Flooring Industry Adopts Digitalization
Proliferation of Blogs and Design Shows: Key Factors Driving Consumer Interest in Hardwood Flooring
Product Innovations Boost Growth
Residential Replacements: The Primary Demand Driver
Engineered Wood Finds Wider Preference
Advantages of Engineered Hardwood
Disadvantages
Long-Term Value to Homes Supports Demand for Hardwood Flooring
Advantages of Hardwood
Disadvantages
Hardwood Floorings Complementing Latest Interior Decor Trends
Transitional Flooring: Flushed Hardwood and Tile in the Same Space
Striking Trends Making Big Splash in Global Wood Flooring Market
Cork Flooring
Engineered Wood Floors
Grown & Made in America Wood Flooring
Reclaimed Wood Flooring
Latest Wood Flooring Type Trends to Amplify Home Look
White Oak Wood Flooring
European White Oak Floors
Colors Options Trending Big on Wood Flooring Market
Blonde Wood Flooring
Honey Wood Flooring
Gray Wood Floors
Greige Wood Floors
Whitewashed Wood Floors
High Variation Remains Hallmark of Latest Wood Flooring Texture Trends
Distressed Wood Flooring
Handscraped Floors
Wirebrushed Wood Floors
Finishing Trends Shining Bright in Wood Flooring Market
Fumed-Finished Wood Floors
Matte-Finished Wood Flooring
Oiled Wood Floors
Satin-Finished Wood Flooring
Site-Finished Wood Flooring
Wood Floor Layout & Pattern Trends
Herringbone Wood Flooring
Wide Plank Wood Floors
Innovations in Manufacturing Technologies to Promote Growth in Wood Flooring
Growing Demand for Innovative Locking Systems for Easy Installation of Floorings
Mass-Timber Construction Technique Offers Potential
Laminate Flooring: The Fast Emerging Substitute to Wood Flooring
Macro Trends Influencing Demand Dynamics
Exponential Increase in Global Urban Population
Expanding Global Population
Burgeoning Middle Class Population
Rising Standards of Living
Product Overview
Wood Flooring
Types of Wood Flooring
Solid Wood Flooring
Hardwood and Softwood Flooring
Engineered Wood Flooring