US Wood Flooring Market

US Wood Flooring Market

The global Wood Flooring market size was valued at $3,518.1 Million in 2020 growing at the CAGR of 4.18% from 2021 to 2028. This growth is attributed to several macro and microeconomic factors such as

Increase in the number of construction project

The rise in the number of construction activities is expected to drive the wood flooring market. According to AGC (Associated General Contractors) of America, the construction industry creates nearly $1.4 trillion worth of structures each year and employs over 7 million people. Higher growth in the commercial construction segment has led to an increase in the usage of wood flooring products. The surge in the number of residential buildings to satisfy the housing needs of a growing population in several urban areas is expected to drive the wood flooring market. According to the US Census Bureau, the annual construction value in the US is increasing steadily from 2015 to 2020. This growth is expected to continue post-COVID. This is expected to drive the growth of wood flowing market during the forecast period.

Further several factors restraining the market growth include

Government regulations and laws towards deforestation

The rise in carbon emissions due to the cutting down of trees on large scale has impacted the government to make a strict rules to save the trees and stop illegal deforestation. The decrease in the number of trees is harmful to the environment which directly affects consumers worldwide. In the US the ‘lacey Act ‘, which bans the trafficking of wildlife was amended in 2008 to include plant and plant products like timber and paper. This act prohibits illegal wood products, illegal logging, and import or sale or illegal trade of harvested timber and other allied forest products in the US. This law has three main components which include the ban on trade in the US of illegally sourced wood products whether they come from within the US or any other country, the requirement of import declarations on certain wood products, and the penalties for violating the law.

Collaborations and Alliances in the Wood Flooring market are expected to generate higher avenues during the forecast period.

In the wake of the COVID-19 pandemic, supply chain disruptions have led to supply shortages or lower demand in the Wood Flooring market. The pandemic has caused a decline in new orders and a corresponding decrease in production.

This section will analyze how COVID-19 has impacted supply chains, leading to shortages and lower demand for Bidetss.

In terms of COVID 19 impact, the Wood Flooring market report also includes the following data points:

Impact on Wood Flooring market size
Operating Weights Trend, Preferences, and Budget Impact
Regulatory Framework/Government Policies
Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
Opportunity in Wood Flooring market

Key Insight in the report:
The global Wood Flooring market report covers executive summary, market dynamics, COVID impact & post COVID scenario, market size and forecast, competitive intelligence, market positioning, and product offerings.

Our report covers extensive competitive intelligence which includes the following data points:

Business Overview
Business Segment Data
Financial Data
Product Segment Analysis and Specification
Recent Development and Company Strategy Analysis
SWOT Analysis

Wood Flooring Market Segmentation:

Type
Home Centers
Flagship Stores
Specialty Stores
Online
Application
Residential
Non-residential
Product Type
Solid Wood
Engineered Wood

Key Players Analyzed in the Report:

Armstrong
Pergo
Shaw Industries Group, Inc.
Brumark Corporation
E.P. Co., Inc.
Mannington Mills
Mohawk Industries
Home Legend, LLC
Somerset Hardwood Flooring
Provenza Floors, Inc

REPORT CONTENT:

High-level analysis of the current and future market trends and opportunities
Detailed analysis on current market drivers, restraining factors, and opportunities in the future
Wood Flooring market estimates for 2020 and forecast from 2021 to 2028
Vendor market share analysis at each product level
Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.

Target Audience

Manufacturers
Suppliers and traders
Government, associations, and industrial bodies
Investors and trade experts
Consulting Firms or Individual Consultant
Anyone interested in understanding the industry dynamics of the Wood Flooring market