Rapid Urbanization And Industrialization Is Driving Hardwood Flooring Market

Rapid Urbanization And Industrialization Is Driving Hardwood Flooring Market

“Hardwood Flooring Market”
Rapid urbanization in developing countries and rising demand for better aesthetics and improved durability in flooring materials are some key factors driving market growth

Hardwood flooring is harvested from dicot flowering trees, including teak, oak, balsa, and maple. Hardwood flooring last longer and is produced in numerous cuts, styles, and colors, and thus offering various designs to consumers. It is moderately warm flooring material that do not trap dust which makes it easier for cleaning, and maintains even temperature at all seasons.

The global hardwood flooring market is expected to grow significantly over the forecast period due to rapid urbanization and industrialization that has resulted in further development of housing and real estate. The increasing demand for affordable engineered wood flooring solutions and popularity of interior designing is resulting in the advent of additional opportunities for further advancements in the market.

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Major players in the market include Mohawk Industries, AHF Products, Somerset Hardwood Flooring, Mannington Mills Inc., BerryAlloc, Home Legend LLC, Beaulieu International Group, Formica, Provenza Floors Inc., and Egger Group.

Some Key Highlights From the Report:

  • By wood type, oak hardwood flooring segment accounted for a significant large revenue share in 2020. Red oak wood offers an ideal balance between ease of installation and durability. Solid red oak flooring is a durable and sturdy material that is highly wear and damage resistant, and can be refinished more times as compared to other wood species. Red oak is available in several shades, extending across the spectrum of darker and lighter shades.
  • Among the product type segments, the engineered hardwood flooring segment accounted for a larger revenue share in 2020. Engineered hardwood flooring provides better aesthetics than solid hardwood. Also, engineered hardwood flooring does not contract or expand to the same extent as other product types, and thus can be used in environments than can damage solid product types, especially in bathrooms and kitchens, where there are significant variations in temperatures and moisture levels.
  • Prefinished hardwood flooring installation is relatively faster and easier than unfinished floors. Prefinished flooring products do not require sanding and on-site finishing as these are coated in a factory setting, thus doing away with undesired dust, noise, and toxic smells that are an integral to unfinished flooring. Also, prefinished products cost less and are more durable than unfinished types.
  • North American hardwood flooring market accounted for a significantly large revenue share in 2020, attributed to growing US wood flooring industry and increasing demand for hardwood flooring in residential and commercial buildings. In addition, presence of retailers like Home Depot and Lowes and leading producers such as Somerset Hardwood Flooring are causative of high market revenue growth.

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For the purpose of this report, Reports and Data has segmented the hardwood flooring market based on wood type, product type, plank width, flooring style, application, end use, and region:  

Wood Type Outlook (Revenue, USD Million; 2018-2028)

  • Oak Hardwood Flooring
    • Red Oak Hardwood Flooring
    • White Oak Hardwood Flooring
  • Hickory Hardwood Flooring
  • Maple hardwood Flooring
  • Cherry Hardwood Flooring
  • Acacia Hardwood Flooring
  • Cork Hardwood Flooring
  • Bamboo Hardwood Flooring
  • Others

Product Type Outlook (Revenue, USD Million; 2018-2028)

  • Solid Hardwood Flooring
  • Engineered Hardwood Flooring

Design Outlook (Revenue, USD Million; 2018-2028)

  • Plank
    • Narrow Plank Hardwood Flooring
    • Medium Width Plank Hardwood Flooring
    • Wide Plank Hardwood Flooring
  • Strip
  • Parquet
  • Others

Finishing Outlook (Revenue, USD Million; 2018-2028)

  • Prefinished Hardwood Flooring
  • Unfinished Hardwood Flooring

Application Outlook (Revenue, USD Million; 2018-2028)

  • Renovation
  • New Construction

End Use Outlook (Revenue, USD Million; 2018-2028)

  • Residential
  • Commercial
  • Industrial

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Detailed Regional Analysis Covers:

  • North America (U.S., Canada, Mexico)
  • Europe (U.K., Italy, Germany, France, Rest of Europe)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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