World market for Wood Flooring is projected to reach 16.2 billion square feet by 2024, driven by the steady global recovery in construction projects over the last couple of years in most countries worldwide; growing concerns over the environment and the ensuing preference for wood as a green building material given its lower carbon footprint and renewable characteristics when harvested through sustainable forest management practices. Benefits of wood flooring that makes it a special favorite among homeowners include easy maintenance and durability; enhances indoor air quality (IAQ) by repelling dust, animal dander, pollen, mould and mildew; flaunts a versatile classy elegance that complements almost any interior design theme; improves acoustics in a home by reducing hollow sounds and vibrations; comes available in a wide choice of wood species in myriad colors; as a poor conductor of heat it absorbs less heat and allows more circulation of heat resulting in reduced energy bills; and helps enhance the rental value and sale price of homes. Other major factors driving growth include stringent government regulations calling for mandatory renovation of aging buildings; growing demand for hard wearing and natural-looking floors; development of easy to install wood flooring designs such as standard angle locking technology, glueless-click lock installation, snap and lock installation; growing popularity of factory finished hardwood flooring for its lower risk of stains and discolorations associated with onsite finishing and longer durability; rising commercial value of solid wood parquet flooring for its anti-allergy flooring characteristics; and widening product choices in terms of colors, textures, patterns, strength, and wood floors manufactured from a variety of rare and exclusive wood species. Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a projected CAGR of 5.9% over the analysis period, led by rapid urbanization and resulting housing and real estate development; preference for tropical wood flooring in rich, beautiful and luxurious designs; launch of affordable engineered wood flooring solutions; and expanding middle class and their changing attitude towards flooring decors. The region is famous for tropical wood growing in rainforests and moist broadleaf forests such as Mahogany, Teak, Ebony, Rosewood, Narra, and Chloroxylon also known as the East Indian Satinwood Lumber.   

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Company and Industry News & Stories
  • Armstrong Flooring Sells Wood Flooring Business to American Industrial Partners in a Transaction Valued at US$90 Million
  • QEP Partners with Congoleum for Flooring Products in a Move to Expand the Territory Coverage to the Western Portion of the U.S.
  • Mullican Flooring Enters into a Partnership with BPI in a Bid to Establish a Greater Market Presence in the U.S.
  • NOX Partners with American OEM on Joint R&D Effort in a Move to Develop Innovative Flooring Products for the World Market
  • ARK Floors Partners with Design Finishes in a Move to Achieve Market Penetration in Texas, Oklahoma, Kansas, Arkansas and Louisiana

Outlook in Key Market Segments
  • Through 2024, Solid Wood Flooring will remain the largest market, followed by Engineered Wood Flooring in the U.S.
  • Residential and Industrial sectors are projected to provide the largest revenue opportunities for Wood Flooring market over the medium to long-term period in the U.S.

Product Definition & Scope
  • Wood flooring is a timber product designed, manufactured, and assembled to form either structural or aesthetic flooring. Wood flooring is generally made from hardwood, softwood, engineered wood, laminates, and veneers. Flooring made of bamboo may also be classified as wood flooring, although bamboo is basically a grass. Wood flooring is affordable, durable, safe, and requires less maintenance. Wood flooring minimizes the accumulation of dust and other allergy causing substances, thus ensuring healthy air inside the house.

Timeline for Analysis
  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

Geographic Markets Analyzed
  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East & Africa, Latin America (Brazil, Mexico, and Rest of Latin America)

Major Players
  • Barlinek SA
  • Beaulieu International Group
  • Engineered Floors LLC
  • F Junckers Industrier A/S
  • Kährs Group
  • Mohawk Industries, Inc.
  • Nature Home Holding Company Limited
  • Weyerhaeuser Company

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