Press release
Hardwood Flooring Market Report 2024: Strategies And Recent Developments | AHF Products, Armstrong Flooring Inc., Beaulieu International Group, BerryAlloc NV, Bruce Evans Flooring LLC
Hardwood Flooring Market Size
The Business Research Company offers in-depth market insights through Hardwood Flooring Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The hardwood flooring market size has grown strongly in recent years. It will grow from $50.87 billion in 2023 to $53.7 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increased demand for aesthetic appeal, increased residential construction, durability and longevity, real estate market, architectural trends.
The hardwood flooring market size is expected to see strong growth in the next few years. It will grow to $68.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to sustainable sourcing and certification, increasing aging population, customization and personalization, luxury and premium segments, rising emerging markets. Major trends in the forecast period include engineered hardwood flooring, exotic and unique wood species, digital visualization tools, matte and low-gloss finishes, herringbone and chevron patterns.
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Market Segmentation:
The main types of hardwood flooring are solid wood and engineered wood. Solid wood is the preferred flooring option as it is made of solid wood of maple, oak, or walnut. The design outlook consists of plank, strip, parquet, and others depending on the type of design preferred in hardwood flooring. Further, the raw materials used are red oak, white oak, maple, and others. The hardwood flooring is distributed through offline stores and online stores.
Major Driver - Elevated Demand For Aesthetic Interiors Fuels Growth In The Hardwood Flooring Market
The rapid inclination toward aesthetically appealing and sophisticated interiors by residential and commercial building customers is driving the growth of the hardwood flooring market. 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. According to the study published by Pinterest, 60% of users have used social visual networks to make decisions on home décor purchases. The change in customer preferences is expected to boost the usage of hardwood flooring in interior design in different sectors across the globe.
Competitive Landscape:
Major companies operating in the hardwood flooring market include AHF Products, Armstrong Flooring Inc., Beaulieu International Group, BerryAlloc NV, Bruce Evans Flooring LLC, Classen Group, Egger Group, Formica Corporation, Harris Wood Ltd., Anderson Group of Companies Ltd., Boral Ltd., Brumark Enterprises Inc., Duchateau LLC, Eco Timber Ltd., Flooring Innovations Inc., Gerflor SAS, Goodfellow Inc., Hartco Inc., Mohawk Industries Inc., Mannington Mills Inc., Home Legend LLC, Somerset Hardwood Flooring Inc., Provenza Floors Inc., Shaw Industries Group Inc., Pergo LLC, Mullican Flooring, Mirage Floors, Lauzon Distinctive Hardwood Flooring Inc., Wickham Hardwood Flooring, Mercier Wood Flooring, IndusParquet Indústria de Pisos Ltda
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Top Trend - Innovative Technologies Revolutionize The Hardwood Flooring Market
Technological advancement is a key trend gaining popularity in the hardwood flooring market. 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.
The Table Of Content For The Market Report 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
…..
27. Hardwood Flooring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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