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Hardwood Flooring Market: Robust Growth with a CAGR of 7.2% Forecasted till 2029
Hardwood Flooring Market
What Is The Projected Market Size Of The Global Hardwood Flooring Market And Its Growth Rate?
o The hardwood flooring market will grow from $53.35 billion in 2024 to $56.32 billion in 2025, reflecting a CAGR of 5.6%. The growth drivers include increased residential construction, advanced architectural trends, and the appeal for durable flooring.
o The market size is further projected to escalate to $74.5 billion in 2029 with a CAGR of 7.2%. Factors propelling this growth include sustainable sourcing, an aging population opting for hardwood flooring, personalization, and emerging markets.
What Is Driving The Growth In The Hardwood Flooring Market?
The hardwood flooring market is seeing significant growth due to the shift towards striking and sophisticated interiors in both residential and commercial spaces. A rise in customers focusing on enhancing interiors - with recyclable materials, improved air quality, and comfortable thermal conditions - has led to a corresponding increase in hardwood flooring. According to Pinterest, 60% of users base their home décor purchase decisions on visual networks. Such consumer behavior points towards a surge in hardwood flooring usage across different sectors globally.
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Who Are the Key Players Driving Hardwood Flooring Market Growth?
o AHF Products
o Armstrong Flooring Inc.
o Beaulieu International Group
o BerryAlloc NV
o Bruce Evans Flooring LLC
o Classen Group
o Egger Group
o Formica Corporation
o Harris Wood Ltd.
o Other key players include 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.
What Are The Key Trends In The Hardwood Flooring Market?
o Engineered hardwood flooring
o Use of exotic and unique wood species
o Digital visualization tools in flooring
o Matte and low-gloss finishes
o Herringbone and chevron patterns
What Are The Segments Of The Global Hardwood Flooring Market?
o By Product Type: Solid Wood, Engineered Wood
o By Raw Material: Red Oak, White Oak, Maple, Other Raw Materials
o By Design Outlook: Plank, Strip, Parquet, Other Designs
o By Distribution Channel: Offline Stores, Online Stores
Which Region Leads The Hardwood Flooring Market?
North America was the largest market for hardwood flooring in 2024. The Asia-Pacific region is expected to be the fastest-growing in the forecast period. Other significant markets include Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Hardwood Flooring Market Global Market Report?
- Market Size Analysis: Analyze the Hardwood Flooring Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Hardwood Flooring Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Hardwood Flooring Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Hardwood Flooring Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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