[Latest News] Wood Flooring Market to Surpass USD 41,682.2
PUNE, India, March 8, 2023 (GLOBE NEWSWIRE) – The global Size of the wood flooring market was valued at $33,279.5 million in 2019 and is expected to reach $41,682.2 million by 2027 at a CAGR of 3.6% between 2020 and 2027. This is due to increasing government support to promote wood products for construction activities and increasing demand for consumer-friendly building designs driving growth for advanced wood flooring solutions worldwide. This information is published by Fortune Business Insights™in his latest report entitled “Wood Flooring Market Size, Share & Industry Analysis and Regional Forecast, 2020-2027.”
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List of Companies Operating in the Global Wood Flooring Market:
- Mohawk Industries, Inc. (USA)
- Armstrong Flooring, Inc. (US)
- Shaw Industries Group, Inc. (USA)
- LL flooring (USA)
- Junckers Industrier A/S (Denmark)
- British Hardwoods (GB)
- Connor Sports (US)
- Tarkett SA (France)
- Boral (Australia)
- Daiken Corporation (Japan)
- Kährs Holding AB (Sweden)
- Barlinek SA (Poland)
Parquet is a type of floor covering made from real wood or wood-based materials. It is a popular choice for homeowners and designers due to its natural and classic look, durability and versatility in design. There are two main types of wood floors: solid wood and parquet. Solid hardwood is made from a single piece of wood and comes in a variety of species, colors and finishes. It can be sanded and refinished multiple times, making it a great long-term investment
Home renovations amid COVID-19 to fuel growth
The new coronavirus has halted building conditioning due to government guidelines to maintain social distancing. With people confined to their living quarters, home addition conditioning has gained traction. This is expected to favor the growth of global wood flooring demand in the coming periods.
Wood flooring is a type of flooring that uses wood to meet consumer demand for aesthetics, comfort and appearance when constructing buildings or living spaces. The growing demand for sustainability in the construction sector when designing buildings is driving the adoption of wood parquet around the world.
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Comprehensive analysis of market growth drivers, barriers, opportunities and other related challenges. Follow developments such as B. new product launches, agreements, mergers and acquisitions, geographic expansions and joint ventures.
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The key business strategies discussed in this market research revolve around-
Which are the most important business areas in the global industry?
What are the important elements used to study the business intelligence of the market?
What is the market value of the dominant companies in the industry?
Scope and segmentation of the report:
| report coverage | details |
| forecast period | 2020-2027 |
| Forecast CAGR | 3.6% |
| Value prognosis 2027 | $41,682.2 million |
| report coverage | Sales Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Market size of wooden floors in 2019 | $33,279.5 million |
| Historical data | 2017-2019 |
| number of pages | 150 |
| Covered Segments | By material, application and region |
| Growth drivers of the wood flooring market | Added government support to promote timber products to stimulate demand |
| Favorable government policies to promote timber products in Asia-Pacific to support growth |
DRIVING FACTORS
Added government support to promote timber products to stimulate demand
The extensive renunciation of building products such as clay, cement, sword and plastic leads to environmental pollution. The growing demand for abandonment of sustainable products is driving the government to promote wood products that are natural and easily degradable. This is expected to boost demand for advanced wood flooring results around the world. Furthermore, forgoing a consumer-friendly design that is aesthetically pleasing is expected to bode well for growth in global wood flooring demand in the coming period.
SEGMENTATION:
Residential segment to keep large market share
Due to the increasing demand for wood-based wood flooring products for residential projects around the world, the residential segment is expected to show significant growth based on application.
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Geographical segment analyzed in the report:
- North America (USA and Canada)
- Latin America (Brazil, Mexico and the rest of Latin America)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India and the rest of Asia Pacific)
- Middle East and Africa (GCC and Rest of the Middle East and Africa)
REGIONAL INSIGHTS
Favorable government policies to promote timber products in Asia-Pacific to support growth
Among all regions, Asia Pacific amounted to million US$ in 2019 and is expected to hold the largest share of global wood flooring demands in terms of profit in the coming times. This is due to the favorable government programs that encourage the abandonment of wood as a raw material in construction activity in the region.
Demand in Europe is expected to show significant growth between 2020 and 2027, supported by companies’ growing focus on developing heat-resistant wood flooring products in the region.
The market report includes:
- Comprehensive market report
- Critical insights into the market
- Dominant regions of the world
- Market Drivers and Constraints
- competitive landscape
COMPETITIVE LANDSCAPE:
Major players focus on partnerships to expand their product portfolio
The global demand for wood flooring is being resolved by the presence of large companies focused on making connections to expand their wood flooring portfolio and gain a competitive edge over their competitors. The other major players are committed to strategies such as collaboration, new product foreword, and connection and joining, which will contribute to the growth of demand in the coming times.
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Detailed table of contents:
- introduction
- research area
- market segmentation
- research methodology
- Definitions and Assumptions
- Summary
- market dynamics
- market leader
- Market Restrictions
- market opportunities
- Important Findings
- Key Emerging Trends – for key countries
- Key developments: mergers, acquisitions, partnerships, etc.
- Latest technological advance
- Insights into the regulatory scenario
- Porter’s Five Forces Analysis
- Qualitative insights into the impact of COVID-19 on the global Wood Flooring market
- Supply chain analysis & challenges due to Covid-19
- Steps taken by governments/corporations to overcome these impacts
- Possible challenges and opportunities due to the COVID-19 outbreak
- Global Wood Flooring Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market size estimates and forecasts
- By application (value and volume)
- By region (value and volume)
- America
- Europe
- Asia Pacific
- rest of the world
Table of contents continued…!
Industry development:
- January 2020 – Junckers Industrier A/S announced its cooperation with Turkish Airlines EuroLeague Final Four by becoming an official partner. The company announces that under the partnership it will offer A3 Premium Portable Sports Wood Flooring, which is made from beech wood and has received FIBA Level 1 approval.
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