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Hardwood Flooring Market Future Trends, Segments, Growth Rate, Major Players And Forecast To 2032
Hardwood Flooring Market Analysis
The Business Research Company's Hardwood Flooring Global Market Report 2023 identifies rapid inclination toward aesthetically appealing and sophisticated interiors by residential and commercial building customers as the major driver for the hardwood flooring market's growth in the forecast period. Residential and commercial building customers are increasingly focused on redefining the interiors with a major focus on improving air quality, thermal comfort, quality of internal lighting, using recyclable materials, and chemical-free materials.
The global hardwood flooring market size grew from $48.4 billion in 2022 to $51.35 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the hardwood flooring market is expected to grow to $62.09 billion in 2027 at a CAGR of 4.9%.
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Major competitors in the hardwood flooring market are AHF Products, Armstrong Flooring, Inc., Beaulieu International Group, BerryAlloc, Bruce Evans Flooring, LLC, Classen, Egger Group.
A key trend in the hardwood flooring market includes technological advancement. Manufacturers operating in the hard flooring market are launching innovative products to offer high-performance hardwood flooring and products that are resistant to various external factors. For instance, in February 2022, Mannington Mills, Inc., a US-based manufacturer of flooring solutions, launched TimberPlus. TimberPlus is a hardwood flooring solution that offers easy installation, low-cost operations, and reduced maintenance costs.
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The hardwood flooring market is segmented -
1) By Product Type: Solid Wood, Engineered Wood
2) By Design Outlook: Plank, Strip, Parquet, Other Designs
3) By Raw Material: Red Oak, White Oak, Maple, Other Raw Materials
4) By Distribution Channel: Offline Stores, Online Stores
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the hardwood flooring market.
The Business Research Company's "Global Hardwood Flooring Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Hardwood Flooring Market Include:
1. Executive Summary
2. Hardwood Flooring Market Characteristics
3. Hardwood Flooring Market Trends And Strategies
4. Hardwood Flooring Market - Macro Economic Scenario
5. Hardwood Flooring Market Size And Growth
…………
26. Africa Hardwood Flooring Market
27. Hardwood Flooring Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hardwood Flooring Market
29. Hardwood Flooring Market Future Outlook and Potential Analysis
30. Appendix
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