Wood Engineered Floors (Parquet) Market is projected to grow to USD 78.3 billion by 2031 - Weitzer Parkett Vertriebs GmbH, Shaw Industries Group Inc & Tarkett.

The global wood engineered floors (parquet) market was valued at USD 50.8 billion in 2022 and is projected to grow to USD 78.3 billion by 2031, with a compound annual growth rate (CAGR) of 5.6% during the forecast period from 2024 to 2031.

Wood engineered floors, also known as engineered hardwood floors, are flooring products made from multiple layers of wood that are bonded together. These floors consist of a top layer of real hardwood veneer, which provides the appearance and feel of solid wood, and a core layer made from high-density fiberboard (HDF) or plywood.

This construction method allows for greater stability and resistance to changes in temperature and humidity compared to solid hardwood floors. Engineered wood floors are designed to be durable, easy to install, and suitable for various applications, including residential and commercial spaces. They come in a range of finishes, styles, and wood species, offering aesthetic flexibility and functionality.

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Key Developments:

• On August 23, 2021, LM Flooring, a prominent name in stylish and high-quality hardwood floors, announced the largest product launch in its 20-year history. This launch includes four new collections and extensions to four of its most popular lines, totaling an impressive 55 new SKUs set to debut in autumn 2021.

• On September 27, 2022, the National Wood Flooring Association (NWFA) introduced the Engineered Wood Flooring Refinishable Program. This initiative aims to identify engineered wood flooring products with sufficiently thick wear layers that can be sanded and refinished. The program is designed to aid producers, distributors, specifiers, and end users by certifying authentic engineered wood floors and supporting informed decision-making.

Market Dynamics:

Wood-engineered floors, including parquet, are favored by many businesses and homeowners for their durability and longevity. These floors are constructed with multiple layers: a core layer of plywood or high-density fiberboard (HDF) and a top layer of hardwood veneer. This multi-layer construction enhances resilience against common issues such as warping and shrinking, making them a popular choice.

While the real wood veneer can be susceptible to scratches, these can be addressed with scratch repair kits provided by manufacturers, which helps extend the floor's lifespan. Additionally, a significant advantage of engineered wood flooring is its ability to be refinished and sanded down if damaged, further contributing to its appeal and market growth.

Market Segmentation:

By Type: Solid Wood Flooring, Parquet Wood Flooring, Laminated Wood Flooring, Wood Effect Vinyl Flooring, Others.

By Material: Oak, Maple, Walnut, Cherry, Ebony, Bamboo, Teak, Others.

By End-User: Residential, Commercial.

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Major Key Players:

• Weitzer Parkett Vertriebs GmbH
• Shaw Industries Group, Inc
• EGGER
• Tarkett
• SWISS KRONO Group
• Bjelin Sweden AB
• BARLINEK SA
• Q.E.P. Co., Inc
• BAUWERK GROUP SCHWEIZ AG
• Hamberger Industriewerke GmbH

*Note:

• Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

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Flooring Materials Market: https://datamintelligence.com/research-report/flooring-materials-market

Liquid Roofing Market: https://datamintelligence.com/research-report/liquid-roofing-market

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