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Wood Flooring - Global Market Trajectory & Analytics

  • ID: 1227815
  • Report
  • February 2022
  • Region: Global
  • 658 Pages
  • Global Industry Analysts, Inc
Positive yet Weak Growth Predictions for 2015 Suggest Mixed Bag of Opportunities

FEATURED COMPANIES

  • AHF LLC
  • Barlinek SA
  • Boral Limited
  • Brumark Corporation
  • Kahrs Group
  • Mannington Mills, Inc.

Global Wood Flooring Market to Reach US$55.8 Billion by the Year 2026


Flooring plays a pivotal role in enhancing the aesthetic appeal of virtually all utilitarian structures, including residential, industrial and commercial buildings. Among the flooring types, wood floors are considered environment friendly, durable, and easy to clean. Changing lifestyles, growing urban population in Asia-Pacific region, rise in spending on home renovation and enhancement, and increasing consumer demand for eco-friendly materials are some of the key growth drivers augmenting demand for wood flooring. With refinancing, housing, and remodeling trends remaining strong, the prospects for wood sales are bright. The generally positive outlook and stable demand for wood flooring is also spurred by advances in material and technology, which include water-resistant products and digital printing. New construction and greater penetration into higher-end markets also boosts market prospects. Going forward, preference for green products is expected to kindle consumer interest and re-energize demand patterns. Wider planks, long boards, lighter and natural wood colors, and matte sheen finishes are some of the emerging trends witnessed in the wood flooring space. The rising popularity of modern minimalist design is a prime factor spurring demand for white oak floors. Manufacturers are developing engineered products with rigid cores such as mineral and solid polymer to equip wood flooring with waterproof properties. The addition of coatings to the engineered products seals the edges.

Amid the COVID-19 crisis, the global market for Wood Flooring estimated at US$43.2 Billion in the year 2020, is projected to reach a revised size of US$55.8 Billion by 2026, growing at a CAGR of 4.3% over the analysis period. Engineered Wood, one of the segments analyzed in the report, is projected to grow at a 4.6% CAGR to reach US$37.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Solid Wood segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 37% share of the global Wood Flooring market. The engineered wood segment dominates the market, owing to increasing number of manufacturers preferring this product due to its positive attributes that include cost efficiency and dimensional stability. Engineered wood offers a good substitute for hardwood and concrete; thereby driving increased demand for the segment. The solid wood segment is expected to gain from increasing commercial applications of solid wood in public places such as theaters, restaurants, spas and hotels.



The U.S. Market is Estimated at $6.5 Million in 2021, While China is Forecast to Reach $9.9 Million by 2026


The Wood Flooring market in the U.S. is estimated at US$6.5 Billion in the year 2021. The country currently accounts for a 14.55% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$9.9 Billion in the year 2026 trailing a CAGR of 6.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR while Rest of European market (as defined in the study) will reach US$10.5 Billion by the end of the analysis period. The North American market for wood flooring is gaining from rising demand for bacteria-resistant and anti-slip flooring from the healthcare sector, especially in the US. The regional market is anticipated to also benefit from implementation of favorable standards by various states and organizations. The Asia-Pacific market is propelled by rapid urbanization, rising investment in real-estate and housing development, changing attitude toward flooring décor, popularity of tropical wood flooring, and launch of cost-effective engineered wood flooring. Additionally, exporting finished products from Asia-Pacific to developed countries is likely to offer huge investments from Canada-based and the U.S-based furniture manufacturers.

Select Competitors (Total 274 Featured) -

  • AHF LLC
  • Barlinek SA
  • Beaulieu International Group
  • Boral Limited
  • Brumark Corporation
  • Kahrs Group
  • Mannington Mills, Inc.
  • Mohawk Industries, Inc.
  • PT Dharma Satya Nusantara Tbk
  • Shaw Industries Group, Inc.
  • SWISS KRONO Group
  • Tarkett, Inc.
Frequently Asked Questions about the Global Market for Wood Flooring

What is the estimated value of the Global Market for Wood Flooring?

The Global Market for Wood Flooring was estimated to be valued at $43.2 Billion in 2020.

What is the growth rate of the Global Market for Wood Flooring?

The growth rate of the Global Market for Wood Flooring is 4.4%, with an estimated value of $55.8 Billion by 2026.

What is the forecasted size of the Global Market for Wood Flooring?

The Global Market for Wood Flooring is estimated to be worth $55.8 Billion by 2026.

Who are the key companies in the Global Market for Wood Flooring?

Key companies in the Global Market for Wood Flooring include AHF LLC, Barlinek SA, Beaulieu International Group, Boral Limited, Brumark Corporation, Kahrs Group, Mannington Mills, Inc., Mohawk Industries, Inc. and Shaw Industries Group, Inc..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • AHF LLC
  • Barlinek SA
  • Boral Limited
  • Brumark Corporation
  • Kahrs Group
  • Mannington Mills, Inc.

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of Covid-19 and a Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Impact of Covid-19 on Flooring Industry Supply Chain
  • Impact of COVID-19 on the Wood Flooring Market
  • GLOBAL MARKET OVERVIEW
  • Wood Flooring Market Continues to Gain from Unrivaled Aesthetic Appeal of Wood
  • Global Flooring Market by Type (2020): Percentage Breakdown of Volume Sales by Type
  • Primary Advantages of Wood Flooring
  • Growth Drivers for the Wood Flooring Market: On a Scale of 1 - 10 (10 - High Impact; 1 - Low Impact)
  • Growth Dampeners for Wood Flooring Market: On a Scale of 1 - 10 (10 - High Impact; 1 - Low Impact)
  • Mega Trends Benefiting Market Demand Summarized
  • Major Demand Drivers for Wood Flooring (2018 & 2030): Urban Population, Middle Class, Aging Population, and Single Person Households
  • Global Households Breakdown by Type of Family: Percentage Growth (%) over the Period 2018-2028
  • Product Type and Regional Market Analysis
  • Engineered Wood Dominates the Market
  • Solid Wood - Another Significant Market
  • Europe and US Holds Significant Share of the Global Market
  • Developing Countries to Drive Future Growth
  • COVID-19-Led Economic Downturn Weighs on Construction Sector
  • Global Construction Reset & Trajectory: Growth Outlook (In %) For Years 2019 Through 2025
  • Global Infrastructure Spending: Projected Infrastructure Investment Needs (in $ Trillion) by Sector Over the Period 2016-2040
  • Infrastructure Spending to Bring COVID-19 Hit Economies Back on Track
  • Market Outlook
  • Home Projects to Drive Growth for Companies
  • Likely Price Increases
  • Innovations to Continue
  • Digital-Driven Sales
  • Focus on Design Improvements
  • Wood Flooring - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competition
  • Market Participants Focus on Added Value to Gain Share
  • Aggressive Marketing: A Critical Factor for Sustenance of Hardwood Flooring
  • Recent Market Activity
  • WORLD BRANDS
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • The ‘Green’ Image of Wood Flooring Lends Growth
  • Go Green: The New Mantra for Plywood Flooring Manufacturers
  • Increasing Adoption of Sustainable Floor Decorative Materials Spurs Demand
  • Pre-Finish and Reclaimed Wood Gathers Momentum
  • Wood Flooring Industry Adopts Digitalization
  • Proliferation of Blogs and Design Shows: Key Factors Driving Consumer Interest in Hardwood Flooring
  • Product Innovations Boost Growth
  • Residential Replacements: The Primary Demand Driver
  • Engineered Wood Finds Wider Preference
  • Advantages of Engineered Hardwood
  • Disadvantages
  • Long-Term Value to Homes Supports Demand for Hardwood Flooring
  • Advantages of Hardwood
  • Disadvantages
  • Hardwood Floorings Complementing Latest Interior Décor Trends
  • Transitional Flooring: Flushed Hardwood and Tile in the Same Space
  • Striking Trends Making Big Splash in Global Wood Flooring Market
  • Cork Flooring
  • Engineered Wood Floors
  • Grown & Made in America Wood Flooring
  • Reclaimed Wood Flooring
  • Latest Wood Flooring Type Trends to Amplify Home Look
  • White Oak Wood Flooring
  • European White Oak Floors
  • Colors Options Trending Big on Wood Flooring Market
  • Blonde Wood Flooring
  • Honey Wood Flooring
  • Gray Wood Floors
  • Greige Wood Floors
  • Whitewashed Wood Floors
  • High Variation Remains Hallmark of Latest Wood Flooring Texture Trends
  • Distressed Wood Flooring
  • Handscraped Floors
  • Wirebrushed Wood Floors
  • Finishing Trends Shining Bright in Wood Flooring Market
  • Fumed-Finished Wood Floors
  • Matte-Finished Wood Flooring
  • Oiled Wood Floors
  • Satin-Finished Wood Flooring
  • Site-Finished Wood Flooring
  • Wood Floor Layout & Pattern Trends
  • Herringbone Wood Flooring
  • Wide Plank Wood Floors
  • Innovations in Manufacturing Technologies to Promote Growth in Wood Flooring
  • Growing Demand for Innovative Locking Systems for Easy Installation of Floorings
  • Mass-Timber Construction Technique Offers Potential
  • Laminate Flooring: The Fast Emerging Substitute to Wood Flooring
  • Macro Trends Influencing Demand Dynamics
  • Exponential Increase in Global Urban Population
  • World Urban Population in Thousands: 1950-2050P
  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
  • Percentage of Urban Population in Select Countries for 2018, 2020, 2030, 2040 and 2050
  • Expanding Global Population
  • World Population (in Thousands) by Geographic Region for the Years 2018, 2025, 2040, 2050
  • Top Countries Worldwide in Terms of Population in Millions for the Years 1990, 2019 and 2050
  • Burgeoning Middle Class Population
  • Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
  • Rising Standards of Living
  • PRODUCT OVERVIEW
  • Wood Flooring
  • Types of Wood Flooring
  • Solid Wood Flooring
  • Hardwood and Softwood Flooring
  • Engineered Wood Flooring

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Newer Technology and Trends in Hardwood Flooring Drive Healthy Market Growth
  • US Wood Flooring Market Share (in %) by Company: 2020
  • Hardwood Trends in the US Summarized
  • US Wood Flooring Market by Species (2020): Percentage Breakdown of Species Installed for Brazilian Cherry, Maple, Red Oak, White Oak, and Others
  • Engineered Wood Flooring: Major Product Category
  • Myriad Benefits Offered Drive Demand for Engineered Wood Flooring
  • Engineered Wood Offer More Opportunities for Innovation in Design
  • Increasing Competition for Hardwood Flooring from Laminate, LVT, and WPC
  • Other Growth Mitigating Factors
  • Cork & Bamboo Attempt a Comeback
  • Despite Challenges, Optimistic Outlook Projected for Hardwood Flooring
  • US Construction Industry Outlook: A Key Determinant of Growth
  • US Construction Industry Outlook: A Key Determinant of Growth
  • US Construction Spending in US$ Billion for the Period January 2012 to January 2020
  • Number of Housing Starts by Type - Single-Family Units and Multi-Family Units in Thousands in the US (2014-2020)
  • US Construction Value (in US$ Million) for Residential and Non-Residential Sectors for Apr-2020 to Apr-2021
  • US Non-Residential Construction Market by Segment (2020): Percentage Breakdown of Investments for Commercial & Office, Institutional, and Industrial & Others
  • US Private Non-Residential Construction Market by Sector (2020): Percentage Breakdown of Construction Spend for Power, Commercial, Manufacturing, Healthcare, Office, Communication, Lodging, Education, and Others
  • US Wood Flooring Market by End-Use Sector (2020): Percentage Breakdown of Sales for Commercial New Construction, Commercial Replacement, Residential New Construction, Residential Replacement, and Others
  • Residential Replacement Market Dominates Wood Flooring Demand
  • Green Buildings to Drive Future Growth
  • Number of LEED-Certified Projects in the United States (2010-2020)
  • Wood Floor Finishing Trends
  • Wood Floor Pattern and Layout Trends
  • Migration from Shiny and Sleek Products to Warm and Attractive Wood Flooring Types
  • US Flooring Market: A Macro Perspective
  • US Flooring Market by Flooring Type (2020): Percentage Breakdown of Value Sales for Carpets and Rugs; Hardwood Flooring; Laminate; Luxury Vinyl Tile; Stone Flooring; Vinyl Sheet & Floor Tile; Wall Tile & Ceramic Floor; and Others
  • US Flooring Market by Type (2020): Percentage Breakdown of Volume Sales for Carpets and Rugs; Hardwood Flooring; Laminate; Luxury Vinyl Tile; Stone Flooring; Vinyl Sheet & Floor Tile; Wall Tile & Ceramic Floor; and Others
  • Wood Flooring Texture Trends

CANADA

  • A Lucrative Market for Wood Flooring
  • Hard-Surface Flooring Gain Traction
  • Floor Coverings Market in Canada by Type (2020): Percentage Share Breakdown for Carpets & Rugs; Ceramics; Vinyl, Linoleum & Rubber; Wood & Laminates, and Other Non-Resilient Flooring
  • Canadian Housing Sector: An Overview
  • Canadian Housing Market (2010-2020): Housing Starts in '000 Units
  • Environmental Concerns and Ethical Issues
  • Innovation: Key to Survival in the Marketplace
  • Imported Wood Flooring Products Impact Domestic Manufacturers

JAPAN

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Changing Consumer Preference Driving Wood Flooring Market Growth
  • Steady Growth in Housing Starts Augur Well for Market Demand
  • Housing Starts (in Thousand Units) in Japan for the Years 2010 through 2018

CHINA

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Floor Covering Market in China: An Overview
  • Floor Coverings Volume Market in China (% Share): 2020
  • Rapid Urbanization in China to Boost Demand for Wood Flooring
  • Urbanization in China (2011-2020): Percentage Share of Total Population Living in Cities

EUROPE

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Europe Continues to Offer Stable Opportunities to Wood Flooring Products
  • European Flooring Market by Type (In Volume %): 2020

FRANCE

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Encouraging Construction Activity in Asia Bodes Well for the Industry
  • Urbanization Rate in Asia-Pacific (2018-2048): Percentage Share of Total Population Living in Cities
  • Asia-Pacific Volume Market for Flooring by Type (% Share): 2020

AUSTRALIA

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Untapped Rural and Underpenetrated Urban Markets Drive Strong Growth
  • Percentage Share Breakdown of Indian Households by Income Group (2018 & 2025)
  • Major Growth Drivers Summarized
  • Spurt in Residential and Commercial Construction in Tier-2 and Tier-3 Cities

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
  • Flooring Market: Increasing Penetration of Wood and Laminate
  • Latin American Volume Market for Flooring by Type (% Share): 2020

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
  • Large Number of Construction Projects Propel Market Demand in the Middle East

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Wood Flooring Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 274
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • AHF LLC
  • Barlinek SA
  • Beaulieu International Group
  • Boral Limited
  • Brumark Corporation
  • Kahrs Group
  • Mannington Mills, Inc.
  • Mohawk Industries, Inc.
  • PT Dharma Satya Nusantara Tbk
  • Shaw Industries Group, Inc.
  • SWISS KRONO Group
  • Tarkett, Inc.
Note: Product cover images may vary from those shown