Global Wooden Floor Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Wooden Floor Market Report Overview:

“The global Wooden Floor Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Wood flooring is a plank or block of flooring produced using materials such as bamboo, timber, and others and is available in numerous styles, colors, species, and cuts. The wooden floor has various advantages: 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, and increased spending for home enhancement and renovation/remodeling activities are projected to drive the growth of the global market.

Moreover, shifting consumer preferences to use eco-friendly materials and rising awareness regarding the benefits of the wooden floors are other factors anticipated to bolster the growth of the target market.

In addition, increasing research & development activities related to the development of non-hazardous, anti-slip & bacteria resistant flooring solutions are projected to fuel the global wooden floor market in the next ten years.

Furthermore, increasing investments in hotel construction with a major focus on interiors such as furniture and light fixtures are estimated to promote the growth of the target market over the forecast period.

However, volatile raw material prices and easy availability of alternatives are some factors that may restrict demand for the wooden floor market to a certain extent.

Recent trends observed in the target market are manufacturers focusing on launching affordable engineered wood flooring solutions and preferring wood as a green building material, which is 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 the Asia Pacific is estimated to account for a major share and is projected to maintain its dominance during the forecast period. This is attributed to increasing home ownership and increasing demand for the 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 have triggered demand for the target product.

Europe's wooden floor market is also anticipated to register the fastest growth in terms of revenue in the next ten years. Factors such as growing residential and non-residential construction activities and mandatory remodeling of aging buildings are expected to boost the growth of the market in the region.

Furthermore, markets in North America, the Middle East & Africa, and Latin America also anticipated registering the fastest growth in terms of revenue in the next ten years. Factors such as increasing construction activities, including luxury hotels, resorts, parks, and religious monuments in countries in the region, are increasing rapidly, thus fueling the growth of the target market.

Global Wooden Floor Market Segmentation:

Segmentation by Product:

• Engineered Wood
• Solid wood

Segmentation by Application:

• Residential
• Non-residential

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa