Enjoy complimentary customisation on priority with our Enterprise License!
The wooden floor market size is forecast to increase by USD 7.68 billion at a CAGR of 5.69% between 2023 and 2028. The market is experiencing significant growth due to the rising number of construction and real estate projects worldwide. This trend is driven by the increasing preference for wooden floors in both residential and commercial spaces, owing to their durability, aesthetic appeal, and perceived value. Moreover, the adoption of advanced technologies such as Augmented Reality (AR) and Virtual Reality (VR) is revolutionizing the purchasing process for wooden flooring products, enabling customers to visualize the final product before making a purchase. However, the market faces challenges due to the volatility in prices of raw materials for wooden flooring products, such as timber and hardwood, which can impact the profitability of manufacturers and retailers. Overall, the market is expected to continue its growth trajectory, driven by these trends and challenges.
Wooden flooring continues to be a popular choice for interior spaces due to its timeless appeal and visual appeal. The wooden flooring market encompasses various types, including solid wood, engineered wood, laminate flooring, vinyl flooring, ceramic tile flooring, and more. Solid wood flooring, made from natural timber, offers a classic and authentic look. Engineered wood flooring, on the other hand, is made from multiple layers of wood and resin, making it more stable and resistant to moisture. The production of wooden flooring, however, raises concerns regarding the use of raw materials and the impact on the environment. Deforestation is a significant issue, as the demand for wood flooring materials contributes to the harvesting of trees. Alternative flooring materials, such as laminate and vinyl, have gained popularity as eco-friendly alternatives. Hardwood and engineered wood flooring are popular choices for luxury homes and commercial buildings. Wide plank flooring adds a sense of grandeur and spaciousness to interiors. Flooring materials like hardwood, engineered wood, and timber products emit greenhouse gases during production and installation, but their long-term carbon storage makes them a more sustainable choice compared to other hard flooring options. In summary, the wooden flooring market offers a range of options for buildings, from solid wood and engineered wood to laminate and vinyl flooring. While the production of wooden flooring materials has environmental implications, the use of sustainable practices and alternative materials can help mitigate these concerns.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The engineered wood flooring segment is estimated to witness significant growth during the forecast period. Solid wood flooring is a timeless and visually appealing hard flooring solution, crafted from a single, solid piece of natural timber. This type of flooring is renowned for its durability, authentic beauty, and longevity, making it a preferred choice for both residential and commercial interiors. The growing preference for natural and eco-friendly materials in interior design and construction is fueling the demand for solid wood flooring. Sourced from renewable timber resources, solid wood floors have a minimal environmental impact compared to synthetic flooring materials like laminate, vinyl, and ceramic tile.
Solid wood flooring is available in various natural textures and comes in a wide range of species, including oak, maple, and cherry. Its ability to withstand heavy foot traffic and wear over time makes it a practical and long-lasting option, even in high foot-traffic areas. Moreover, solid wood floors can be finished on-site or pre-finished at the factory, providing flexibility for consumers. Engineered wood flooring, a cost-effective alternative, is also gaining popularity due to its stability and ease of installation. Retail stores offer a variety of solid wood flooring options, from wide plank flooring to unfinished hardwood floors, catering to diverse design preferences and budgets. Proper cleaning and maintenance are essential to preserve the beauty and longevity of solid wood floors.
Overall, solid wood flooring contributes to sustainable sourcing practices, reducing greenhouse gas emissions and promoting a healthier indoor environment.
Get a glance at the market share of various segments Request Free Sample
The engineered wood flooring segment accounted for USD 12.60 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request Free Sample
The market in North America is characterized by the usage of various hard flooring materials, including solid wood, engineered wood, laminate flooring, vinyl flooring, ceramic tile flooring, and timber products. These flooring materials offer a timeless appeal and visual appeal, making them popular choices for interior design in buildings. The major raw materials for these floors are sourced from natural timber, such as oak, maple, and cherry, which can be obtained through sustainable sourcing practices to minimize deforestation and reduce the emission of greenhouse gases. The US and Canada are the leading markets for wooden floors in North America, driven by the thriving construction industry. With over 919,000 ongoing projects in the US in the first quarter of 2023, the industry is a significant contributor to the economy, employing 8.0 million people and constructing USD2.1 trillion worth of projects annually. These hard flooring options, including pre-finished hardwood floors, unfinished hardwood floors, and laminated wood, are suitable for high foot traffic areas and can withstand wear and tear. The market for wooden floors continues to grow, offering a range of flooring materials to cater to various design preferences and budgets.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising number of construction and real estate projects worldwide is the key driver of the market. The global market for wooden flooring, including solid wood, engineered wood, laminate, vinyl, and ceramic tile flooring, is experiencing significant growth due to increasing investments in residential and commercial real estate, particularly in the construction of offices and retail spaces. Countries such as the United States and Canada are witnessing a wave in building activities, which is driving the demand for various types of wooden flooring. For instance, the I-4 Ultimate project in Florida, the Central 70 project in Colorado, the SH 99 Grand Parkway in Houston, and the DFW Connector project in Texas are some of the major infrastructure projects underway in the US that will contribute to the demand for wooden flooring materials.
Sustainable sourcing practices are increasingly important in the wooden flooring industry, with a focus on raw materials that have minimal impact on deforestation and the environment. Popular choices include hardwood species such as oak, maple, and cherry, which offer a timeless appeal and visual appeal. Wide plank flooring and luxury vinyl tiles are also gaining popularity for their natural textures and resistance to wear and tear in high foot traffic areas. Wooden flooring, as a hard flooring solution, is preferred for its durability and ease of cleaning. Solid wood and engineered wood flooring are popular options for interiors due to their natural beauty and ability to add character to a space.
Pre-finished hardwood floors and unfinished hardwood floors offer flexibility in terms of customization and installation. The wooden flooring market is expected to continue its growth trajectory, with increasing demand from both residential and commercial sectors. However, it is important to consider the environmental impact of wooden flooring and the importance of sustainable sourcing practices to reduce the carbon footprint and minimize the release of greenhouse gases. Retail stores and flooring manufacturers are responding to this trend by offering a wide range of eco-friendly options and certifications.
Growing adoption of AR and VR technology to enhance online purchasing of flooring products is the upcoming trend in the market. Wooden floors continue to be a popular choice for interior spaces due to their timeless appeal and visual appeal. The market for wood flooring encompasses various types, including solid wood, engineered wood, laminate, vinyl, ceramic tile, and more. Raw materials for these flooring options can be sourced sustainably through responsible forestry practices to minimize deforestation and reduce greenhouse gas emissions. Solid wood and engineered wood flooring are natural timber products, available in various species such as oak, maple, and cherry. These floorboards offer a luxurious and authentic look, with natural textures and unique grain patterns. In contrast, laminate wood and luxury vinyl tiles are alternative options that mimic the appearance of wood, while being more cost-effective and resilient to wear and tear.
Retail stores provide a wide range of flooring options for potential buyers, with pre-finished hardwood floors and unfinished hardwood floors available for customization. Cleaning and maintenance requirements vary between different flooring types, with solid wood and engineered wood requiring more attention to avoid damage from high foot traffic and wear and tear. Advancements in technology, such as augmented reality (AR) and virtual reality (VR), offer innovative solutions for customers to visualize and experience different flooring options in their spaces before making a purchase decision. AR apps allow users to view a realistic representation of various wooden flooring choices directly in their home environment, while VR experiences provide a full walkthrough of a virtual room with different wooden flooring options, enhancing the decision-making process.
Volatility in prices of raw materials for wooden flooring products is a key challenge affecting the market growth. Wooden flooring is a popular choice for interior spaces due to its timeless appeal and visual appeal. The global wooden flooring market heavily relies on raw materials, primarily timber, for manufacturing various types of wooden flooring products, including solid wood flooring, engineered wood flooring, laminate flooring, vinyl flooring, ceramic tile flooring, and luxury vinyl tiles. However, fluctuations in timber prices can pose challenges for manufacturers. These price variations can be attributed to several factors, such as changes in supply and demand, regulatory policies, weather conditions, and geopolitical tensions. For instance, when raw material prices increase unexpectedly, manufacturers face higher production expenses, which can lead to reduced profit margins or increased prices for consumers. Conversely, during periods of declining raw material prices, manufacturers may struggle to maintain profitability if they are unable to adjust product pricing accordingly.
Moreover, the use of sustainable sourcing practices is becoming increasingly important in the wooden flooring industry to minimize deforestation and reduce the carbon footprint. The various types of wooden flooring materials, such as hardwood, engineered wood, and laminated wood, come in various textures, including natural timber, oak, maple, and cherry. These flooring materials offer excellent durability and resistance to wear and tear, making them suitable for high foot traffic areas in commercial buildings. Proper cleaning and maintenance are essential to preserve their natural beauty and longevity. Overall, the wooden flooring market continues to grow, driven by increasing demand for sustainable and eco-friendly flooring options.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Barlinek SA: The company offers wooden flooring solutions such as Oak Lombardy Herringbone, Oak Balos Chevron, Oak Grissini, Oak Castagnole, and others.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Wooden flooring continues to be a popular choice for interiors due to its timeless appeal and visual appeal. The market for wooden flooring includes various types such as solid wood, engineered wood, laminate flooring, vinyl flooring, ceramic tile flooring, and more. Among these, solid wood and engineered wood flooring are the most preferred choices due to their natural textures and durability. The raw materials used in the production of wooden flooring include timber products like floorboards made from hardwoods such as oak, maple, and cherry. Sustainable sourcing practices are increasingly being adopted to reduce deforestation and the associated environmental impact. Laminate flooring, luxury vinyl tiles, and ceramic tile flooring are other hard flooring options that mimic the look of wooden flooring but are made from different materials. These options are preferred in areas with high foot traffic and require minimal maintenance.
Further, cleaning and maintenance are essential aspects of maintaining the beauty and longevity of wooden flooring. Regular sweeping, dusting, and mopping are recommended to keep the floors clean and free of dirt and debris. Proper care and maintenance can help reduce wear and tear and extend the life of the floors. In conclusion, the wooden flooring market continues to grow due to its timeless appeal and visual appeal. The various types of wooden flooring, including solid wood, engineered wood, laminate flooring, vinyl flooring, and ceramic tile flooring, cater to different preferences and budgets. Sustainable sourcing practices and proper maintenance are essential to ensure the longevity and beauty of wooden flooring.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
168 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.69% |
|
Market growth 2024-2028 |
USD 7.68 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
5.51 |
|
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
|
Performing market contribution |
North America at 35% |
|
Key countries |
US, Canada, China, Germany, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Armstrong World Industries Inc., Barlinek SA, Bauwerk Group Schweiz AG, Beaulieu International Group, Berkshire Hathaway Inc., Boral Ltd., Broadsword Timber t as British Hardwoods., Daikin Industries Ltd., GREENBUILD WOOD INDUSTRY CO. LTD, IM wooden floor, Junckers Industrier AS, Kahrs, kelaiwood , Lauzon, Mannington Mills Inc., Mirage, Mohawk Industries Inc., Tarkett, The Solid Wood Flooring Co, and Three Trees Flooring |
|
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
