Industry Background:
Wooden Flooring refers to the flooring is done by any type of wood, there are various types of plants have been used in wooden floorings such as Oak, Mahogany, Lyptus, Ash, Hickory, Pine, Cherry, Brazilian Cherry, Walnut, Rosewood, Maple, Bamboo, and Others. The price of wooden flooring totally depends on the thickness of wood, flooring space and type of wood used in flooring. Rising demand from the rapidly growing construction sector due to a surge in residential construction and increasing disposal income and standard of living results in spending on home remodeling is the major key driver for the market. Additionally, the rising popularity of wood flooring due to its green image and beautiful appearance is supplanting the growth of the market. However, the presence of alternative for wooden flooring, increasing environmental concern, stringent government regulation, and price fluctuation as per availability of raw materials are the factors responsible for limiting the growth of the market. Moreover, increasing demand from emerging economies due to high benefits associated with wooden flooring and key players are continuously involved in the development of the wooden flooring service, this can create a big opportunity for the market in the forecasted year. Global Wooden Floor market is expected to see growth rate of 5.1% and may see market size of USD128.38 Billion by 2027
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2022 |
Unit | Value (USD Billion) |
Key Companies Profiled | Mohawk Industries (United States), Shaw Industries Group (United States), Tarkett Group (France), Armstrong Flooring (United States), Balterio Laminate Flooring (Belgium), Kährs Group (Sweden), Mannington Mills, Inc. (United States), Beaulieu International Group(Belgium), Nature Home Holding Company Limited (China), Greenply Industries Ltd. (India), Formica Corporation (United States), Dalian Jia Yang Wood Products Co., Ltd. (China), Mullican Flooring (USA), Lauzon Flooring (Canada), Hamberger Flooring GmbH & Co. KG (HARO) (Germany) and Somerset Hardwood Flooring (United States) |
This growth is primarily driven by Rising Demand from Rapidly Growing Construction Sector due to Surge in Residential Construction and Increasing Disposal Income and Standard of Living Results in Spending on Home Remodeling.
Globally, a noticeable market trend is evident Rising Popularity of Wood Flooring due to its Green Image and Beautiful Appearance Major Vendors, such as Mohawk Industries (United States), Shaw Industries Group (United States), Tarkett Group (France), Armstrong Flooring (United States), Balterio Laminate Flooring (Belgium), Kährs Group (Sweden), Mannington Mills, Inc. (United States), Beaulieu International Group(Belgium), Nature Home Holding Company Limited (China), Greenply Industries Ltd. (India), Formica Corporation (United States), Dalian Jia Yang Wood Products Co., Ltd. (China), Mullican Flooring (USA), Lauzon Flooring (Canada), Hamberger Flooring GmbH & Co. KG (HARO) (Germany) and Somerset Hardwood Flooring (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Competition among existing players is due to the stiff market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Wooden Floor makers. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage
Key Developments in the Market:
In November 2018, American Industrial Partner has announced the acquisition of Armstrong Flooring's wood. The new acquisition will help the company to provide an expanded wood product portfolio to home builders, kitchen and bathroom remodeling in the US and Canada.
Regulatory Insights:
According to EU Timber Regulation (EUTR), any timber product available in the European market must have to ensure that the timber has legally harvested and exported legally.
Influencing Trend:
Rising Popularity of Wood Flooring due to its Green Image and Beautiful Appearance
Market Growth Drivers:
Rising Demand from Rapidly Growing Construction Sector due to Surge in Residential Construction and Increasing Disposal Income and Standard of Living Results in Spending on Home Remodeling
Challenges:
High Price as well Price Fluctuation as per Availability of Raw Material
Restraints:
Presence of Alternative for Wooden Flooring and Increasing Environmental Concern and Strict Government Regulation
Opportunities:
Increasing Demand form Emerging Economies due to High Benefits Associated with Wooden Flooring
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Wooden Floor Market
- Analysis about New Entrants in Wooden Floor Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Wooden Floor Study Sheds Light on
The Wooden Floor Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Wooden Floor industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Wooden Floor industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.