Wood Flooring

Wood Flooring

Global Wood Flooring Market to Reach US$67.1 Billion by 2030

The global market for Wood Flooring estimated at US$48.8 Billion in the year 2023, is expected to reach US$67.1 Billion by 2030, growing at a CAGR of 4.7% over the analysis period 2023-2030. Engineered Wood Flooring, one of the segments analyzed in the report, is expected to record a 5.1% CAGR and reach US$43.9 Billion by the end of the analysis period. Growth in the Solid Wood Flooring segment is estimated at 3.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$7.0 Billion While China is Forecast to Grow at 7.1% CAGR

The Wood Flooring market in the U.S. is estimated at US$7.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.0 Billion by the year 2030 trailing a CAGR of 7.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.8% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.

Global Wood Flooring Market - Key Trends and Drivers Summarized

Wood flooring encompasses a variety of products made from timber that are designed for use as flooring, either for structural or aesthetic purposes. Available in different styles, colors, cuts, and species, wood floors can be classified into two main types: solid wood flooring, which consists of planks milled from a single piece of timber, and engineered wood flooring, which is composed of multiple layers of wood veneers. The natural beauty, durability, and timelessness of wood flooring make it a popular choice for both residential and commercial spaces. Wood floors are highly valued for their ability to add warmth and character to any room, enhance the property`s value, and have compatibility with various decors.

The global wood flooring market has witnessed a steady evolution driven by advances in wood processing technologies and shifts in consumer preferences. There has been a significant move towards sustainable and eco-friendly building materials, which has increased the demand for wood flooring from certified sustainably managed forests. Innovations such as click-lock technology, which allows for easier DIY installation, and improvements in wood treatments that enhance durability and resistance to moisture and pests, have expanded the use and application of wood flooring. Additionally, the aesthetics of wood flooring continue to diversify with trends favoring both rustic, hand-scraped planks and those with highly polished, contemporary finishes. These trends reflect a broader consumer shift towards personalized and eco-conscious home decor choices.

The growth in the wood flooring market is driven by several factors including environmental regulations, technological advancements, and changing consumer preferences. Stricter environmental standards have led to innovations in sustainable forestry and wood processing, ensuring that wood flooring remains a viable option within green building practices. Technological advancements have not only improved the quality and durability of wood flooring but also expanded its applications through better moisture resistance and ease of installation. Consumer preferences have shifted towards more sustainable and aesthetically versatile flooring options, pushing the market towards higher-quality and ecologically responsible products. The rise of online retail has also facilitated greater consumer access to a wide variety of wood flooring options, further boosting market growth. 

Select Competitors (Total 274 Featured) -

• Boral Ltd.
• Beaulieu International Group
• BALTERIO Laminate Flooring
• BerryAlloc NV
• Abet Laminati SpA
• Alsafloor SA
• Apollo Flooring Center
• Balaji Action Buildwell (ActionTESA)
• BVG Industries Ltd.
• Armstrong Flooring, Inc.
• Çamsan Ordu A?aç San. ve Tic. A.?.
• Accord Floors
• Anika Global
• AllStar Renovations, Inc.
• Brandster Branding Limited

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