Wooden Floor Market Latest Rising Trend & Forecast to 2023
Market research future published a half cooked research report on global wooden floor market. The wooden floor market is expected to grow over the CAGR of around 5.5% during the period 2017 to 2023.
The growth in the construction industry and the renovation projects in developed countries driving huge opportunities for the growth of the market. Wooden floor is used for horizontal elements of building, infrastructure elements and much more. Various types of wood are used to make a wooden floor. Growing demand for environmentally sustainable as well as low maintenance building products is also expected to generate growth opportunities for the market. However, availability of substitutes such as tiles may restrict the growth of the market.
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Market Research Analysis
For the purpose of this study, the global wooden floor market has been divided into two segments such as by type and by end user. On the basis of type, the market has been segmented as solid hardwood floor, engineered floor, bamboo floor, laminate floor and others. Among the type, solid hardwood floor accounts the largest market share. Pressure-treated wood is durable and long lasting. It is well known for its endurance. It possesses a greater hardness compared to other, which have enabled customer preference toward it. The product is widely adopted in residential buildings for living rooms, dining rooms, bed rooms and others.
On the basis of end-user, the market has been segmented as residential and non-residential. Residential dominates the application segment of the market and is expected to grow at a highest CAGR during the forecast period. Rise in demand for wooden floor across the residential segment, attributed to changing consumer lifestyle and increased consumer disposable income. Moreover, owing to growing demand across the construction industry and increased home improvement and renovation projects also fuel the demand of the market in residential applications. Non-residential application is expected to contribute significantly during the forecast period mainly due to increase in hospitality, corporate offices, education, and retail sector.
This study provides an overview of the global wooden floor market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global wooden floor market by its type, by end user and region.
The prominent players in the wooden Floor market include Armstrong Floor, Inc. (England), Beaulieu International Group (Canada), Berkshire Hathaway Company (U.S.), Boral Limited (Australia), Brumark (U.S.), Khrs Holding AB (Sweden), Mannington Mills, Inc. (U.S.), Mohawk Industries, Inc. (U.S.), Nature Home Holding Company Limited (Hong Kong), Tarkett S.A. (France), Greenlam Industries Limited (India)., BOEN (U.K.), Lord Parquet (China), First Asia Industrial Co., Ltd. (China) and among others.
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