Global Wood Flooring Market Overview
The global wood flooring market is projected to reach USD 41,682.2 million by 2027, up from USD 33,279.5 million in 2019, with a CAGR of 3.6% between 2020 and 2027. This growth is driven by increased government support for wood products in construction and the rising demand for consumer-friendly building designs. These trends are fostering a growing demand for advanced wood flooring solutions worldwide, according to Fortune Business Insights in their latest report.
Companies Operating in the Global Wood Flooring Market
- Mohawk Industries, Inc. (U.S.)
- Armstrong Flooring, Inc. (U.S.)
- Shaw Industries Group, Inc. (U.S.)
- LL Flooring (U.S.)
- Junckers Industrier A/S (Denmark)
- British Hardwoods (UK)
- Connor Sports (U.S.)
- Tarkett S.A. (France)
- Boral (Australia)
- Daiken Corporation (Japan)
- Kährs Holding AB (Sweden)
- Barlinek S.A. (Poland)
Report Inclusions
The market report provides a comprehensive assessment of the market drivers, restraints, opportunities, and challenges expected during the forecast period. It offers detailed insights into regional market developments and includes expert advice from industry professionals. The competitive landscape section highlights strategies such as product launches, partnerships, mergers and acquisitions, and collaborations that companies are using to maintain their market position from 2020 to 2027.
Driving Factors
Government Support for Wooden Products: Environmental concerns from using materials like gravel, cement, steel, and plastic are leading governments to promote sustainable, biodegradable wood products. This support is expected to boost the demand for advanced wood flooring solutions globally.
Aesthetic Consumer-Friendly Designs: The growing adoption of aesthetically appealing, consumer-friendly designs is also anticipated to positively impact the global wood flooring market’s growth in the coming years.
Segmentation
Residential Segment: The residential application segment is expected to hold a significant market share due to the increasing demand for lumber-based wood flooring products in residential projects worldwide.
Information Source:
https://www.fortunebusinessinsights.com/wood-flooring-market-104011
Regional Insights
Asia-Pacific: Asia-Pacific, valued at USD 19,665.1 million in 2019, is expected to hold the largest market share due to favorable government policies promoting wood as a raw material in construction.
Europe: The European market is expected to grow significantly as companies focus on developing heat-compatible wood flooring products between 2020 and 2027.
Competitive Landscape
Partnerships and Expansions: The wood flooring market is fragmented, with major companies focusing on partnerships to expand their product portfolios and gain a competitive edge. Strategies such as collaborations, new product introductions, and mergers and acquisitions are expected to contribute to market growth in the coming years.
Blog Related Insights: https://www.globenewswire.com/news-release/2023/03/08/2622845/0/en/Latest-News-Wood-Flooring-Market-to-Surpass-USD-41-682-2-Million-by-2027-Fortune-Business-Insights.html
