May 26, 2020 6:00 PM ET
iCrowd Newswire – May 26, 2020
The global hardwood flooring market is expected to reach USD 123 billion by 2026, expanding at a CAGR of around 5.9% during the forecast period, from 2020 to 2026. The growth of the market is attributed to factors such as environmental profiles, durability, sophisticated appearance and ease to maintain the wooden floor.
Wood is a commonly used material for flooring. It is available in various colors, styles, cuts, and species. This hard surface flooring is produced using materials such as timber and bamboo. Wood flooring increase the esthetic appeal as compared to other flooring such as vinyl and cork.
Based on product types, the global hardwood flooring market is divided into solid wood and engineered wood. Engineered and solid wood flooring are widely used in residential and commercial structures to improve esthetics. Demand for engineered hardwood floorings is growing due to easy customization and availability of a variety of wood effects such as oak and maple. The manufacture of engineered wood products requires lesser energy than that of other flooring materials, hence the segment is expected to grow at a significant pace.
Solid wood is costlier than engineered wooden floors. Deck flooring is treated to make them more abrasion resistant and reliable. Red and white oak-based products have been used for decades due to their high durability and dynamic applicability. Increasing commercial constructions across major regions is anticipated to fuel market growth.
Major companies in the global hardwood flooring market include Barlinek SA, Boral Limited, Brumark Corporation, Kahrs Holding AB, and Mannington Mills Inc. Well-established manufacturers focus on expanding their geographical reach and the development of products to maintain their dominance in the market.
These companies engage in strategies such as mergers & acquisitions, joint ventures, partnerships, and collaborations to build a sustainable business to gain a strong position in the global market. They provide installation and maintenance services to enhance their offerings, which ultimately helps in customer relationship management.
Kahrs Holding AB and Barlinek SA invest in aggressive marketing, use unconventional wood colorings for bold hues and to increase scratch-resistant.
Segments Covered in This Report:
Segment by End Use Sector:
- Residential Sector
- Commercial Sector
At present, the commercial sector exhibits a clear dominance in the market.
Segment by Raw Material:
- Red Oak
- White Oak
Amongst these, red oak accounts for the majority of the total market share.
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
On the geographical front, North America holds the leading position in the market, accounting for the largest market share.
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Table of Content:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Flooring Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Type
5.4 Market Breakup by Region
5.5 Market Breakup by End-Use Sector
5.6 Market Forecast
6 Global Hardwood Flooring Market
6.1 Market Overview
6.2 Market Performance
6.2.1 Volume Trends
6.2.2 Value Trends
6.3 Market Breakup by Region
6.4 Market Breakup by End-Use Sector
6.4 Market Breakup by Raw Material
6.5 Market Forecast
6.6 SWOT Analysis
6.7 Value Chain Analysis
6.7.2 Raw Material Procurement
6.8 Porter’s Five Forces Analysis
6.8.2 Bargaining Power of Buyers
6.8.3 Bargaining Power of Suppliers
6.8.4 Degree of Competition
6.8.5 Threat of New Entrants
6.8.6 Threat of Substitutes
6.9 Price Analysis
6.9.1 Key Price Indicators
6.9.2 Price Structure
6.9.3 Margin Analysis
6.10 Key Success and Risk Factors
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