Global Wooden Floor Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Wooden Floor Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global wooden floor market report has been segmented on the basis of product, application, and region.
Global Wooden Floor Market: Overview
Wood flooring is a plank or block of flooring, which is produced using materials such as bamboo, timber, and others, and are available in numerous styles, colors, species, and cuts. Wooden floor has various advantages such as aesthetic look, easy maintenance, durability, customization, heat & moisture resistance, low installation cost, and long-term cost savings.
Global Wooden Floor Market: Dynamics
Increasing construction activities, rising demand for floorings including wood, laminate, and vinyl, along with increasing spending for home enhancement and renovation/remodeling activities are projected to drive growth of the global market. Moreover, shifting consumer preferences to use eco-friendly materials and rising awareness regarding benefits of wooden floor are another factor anticipated to bolster growth of the target market. In addition, increasing research & development activities related to development of non-hazardous and anti-slip & bacteria resistant flooring solutions are projected to fuel global wooden floor market in the next ten years. Furthermore, increasing investments in hotel construction with major focus on interiors such as furniture and light fixtures is estimated to promote growth of target market over the forecast period.
However, volatile raw material prices, along with easy availability of alternatives are some of the factors which may restrict demand for wooden floor market to a certain extent.
Recent trend observed in the target market is manufacturers are focusing to launch affordable engineered wood flooring solutions and preferring wood as a green building material, which are anticipated to create new opportunities in terms of revenue for players operating in the target market.
Global Wooden Floor Market: Segment Analysis
Among the product segments, the engineered wooden flooring segment is projected to register a significant growth rate in the target market during the forecast period.
Among the application segments, the non-residential segment accounts for major market share in terms of revenue and is expected to maintain its dominance over the forecast period.
Global Wooden Floor Market: Regional Analysis
The market in Asia Pacific is estimated to account for major share and is projected to maintain its dominance during the forecast period. This is attributed to increase in home ownership along with increasing demand for wooden floor from residential and commercial sectors in this region. Emerging countries such as India and China are estimated to offer substantial growth opportunities, owing to increasing investments in construction activities and repairing and remodeling work activities. Moreover, rapid urbanization and strong economic growth in emerging countries in the region have triggered demand for the target product.
Europe wooden floor market is also anticipated to register fastest growth in terms of revenue in next ten years. Factors such as growing residential and non-residential construction activities and mandatory remodeling of aging buildings are some of the factors expected to boost growth of the market in the region. Furthermore, markets in North America, Middle East & Africa and Latin America also anticipated to register fastest growth in terms of revenue in next ten years. Factors such as increasing construction activities including luxury hotels, resorts, parks, and religious monuments in countries in the region is increasing rapidly, thus fueling growth of the target market.
Global Wooden Floor Market Segmentation:
Segmentation by Product:
- Engineered Wood
- Solid wood
Segmentation by Application:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Armstrong World Industries, Inc.
- Mannington Mills
- Mohawk industries, Inc.
- Shaw Industries Group, Inc.
- Anderson Hardwood Floors
- Mullican Flooring
- Giorio srl
- Greenply Industries Limited
- Timberwolf LLC.
- Interface, Inc.
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