Wooden Floor Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, Canada, China, Germany, UK - Size and Forecast 2024-2028

Wooden Floor Market Forecast 2024-2028

The wooden floor market size is forecast to increase by USD 7.68 billion at a CAGR of  5.69% between 2023 and 2028. 

The market's growth rate is contingent upon various factors, including the escalating global construction and real estate projects, surging demand for environmentally friendly and sustainable flooring solutions, and the thriving preference for wooden flooring in indoor sports facilities. The increasing emphasis on eco-friendly practices and sustainable materials in construction projects drives the adoption of flooring options that align with environmental standards. Simultaneously, the growth of indoor sports facilities worldwide contributes significantly to the demand for durable and aesthetically appealing wooden flooring solutions. As consumers prioritize sustainability and environmental consciousness, the market experiences a shift towards eco-friendly flooring materials, driving innovation and development in the sector to meet the rising demand for sustainable flooring solutions across diverse industries. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018 - 2022, besides analyzing the current market scenario.

What will be the  Market Size During the Forecast Period?

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Market Definition 

A wooden floor refers to the flooring in buildings, which is constructed using solid wood or engineered wood planks. Wooden floors offer natural and warm aesthetics besides providing durability and longevity and enabling easy maintenance. Wooden floors come in various types of wood, finishes, and styles, enabling customization to suit different design preferences and functional requirements. They are commonly used in residential and commercial spaces because of their timeless appeal and enduring beauty.

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Market Dynamics

The market is driven by various factors, such as the demand for sustainable and eco-friendly flooring options, the timeless and visual appeal of wood, and the growing popularity of wide plank flooring. However, challenges like deforestation and the environmental impact of timber production must be addressed. Additionally, the market is witnessing trends such as the rise of engineered wood flooring, luxury vinyl tiles, and innovative flooring materials. Balancing visual appeal with sustainability and addressing environmental concerns are crucial aspects shaping the Wooden Floor market's trajectory. Our researchers analyzed the market research and growth data with 2023  as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Key Market Driver

Growing demand for eco-friendly and sustainable flooring is notably driving the market. Consumers are increasingly emphasizing sustainability in their purchasing decisions. In addition, wood, a natural and renewable resource, aligns perfectly with this eco-conscious mindset, especially when sourced from responsibly managed forests. Furthermore, wooden floors are known to promote better indoor air quality by reducing the chances of allergens and pollutants when compared to some synthetic options.

Moreover, the focus on creating healthy living spaces is driving the demand for wood flooring, particularly in residential buildings. In addition, stringent environmental regulations and green building codes are promoting the use of sustainable materials in construction projects. Furthermore, wood flooring, when sourced sustainably, can contribute to earning certifications like Leadership in Energy and Environmental Design (LEED), making it a valuable choice for architects and builders. Hence, such factors are driving the market during the forecast period.

Significant  Market Trends 

Rising demand for customization in flooring products is an emerging trend in the market. Customers are increasingly looking for personalized solutions that reflect their unique style preferences, interior design themes, and functional requirements. In addition, this trend toward customization has led wooden flooring product manufacturers to offer a wide range of options in terms of wood types, finishes, colors, patterns, and plank sizes to cater to diverse customer needs.

Moreover, designers and architects working on high-end residential or commercial projects often require unique wooden flooring solutions. In addition, customization allows manufacturers to cater to these niche markets by creating bespoke flooring with specific dimensions, inlays, or exotic wood species to meet the precise needs of the project. Hence, such factors are driving the market during the forecast period.

Major Challenge

The issue of moisture absorption and poor impact resistance in wooden flooring is a major challenge hindering the market. Wood is vulnerable to warping, swelling, and rotting when exposed to excessive moisture. Therefore, this makes this solution a less suitable choice for areas that are highly prone to spills, leaks, or high levels of humidity, like kitchens, bathrooms, or basements. Furthermore, this can limit its overall applications in homes and certain commercial settings.

Moreover, to maintain their appearance and prevent moisture-related damage, wooden floors require regular cleaning and occasional refinishing. In addition, this need for periodic maintenance can be time-consuming and expensive for some homeowners, potentially deterring them from choosing this solution.  Furthermore, fluctuations in humidity levels can lead to the expansion and contraction of the wood, causing gaps to form between the floorboards and compromising the overall stability of this solution. Hence, such factors are hindering the market during the forecast period.

Segmentation by Type, End-user, and Geography

The market is a dynamic segment within the construction and interior design industries, driven by various factors and catering to diverse consumer preferences. Raw materials such as natural timber are fundamental to the production of wooden flooring, offering both aesthetic appeal and durability. However, concerns about deforestation and its impact on the environment have led to a shift towards sustainable practices in the industry. Different types of wooden flooring options are available, including solid wood flooring and engineered wood flooring. While solid wood provides a timeless appeal and authentic look, engineered wood offers enhanced durability and resistance to moisture, making it suitable for various environments. Other flooring options like laminate flooring, vinyl flooring, and ceramic tile flooring compete in the market, but wood's visual appeal and wide plank flooring options remain highly sought-after by consumers. 

Type Analysis

The engineered wood flooring segment is estimated to witness significant growth during the forecast period. Engineered wood flooring segment is a type of hardwood flooring that includes multiple layers of wood veneers or plywood, which have been bonded together with adhesives. In addition, this type of flooring is known for its durability, stability, and resistance to moisture, making it suitable for various applications in both residential and commercial settings.

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The engineered wood flooring segment was the largest segment and was valued at USD 12.60 billion in 2018. Moreover, this segment offers several advantages over traditional solid wood flooring, including enhanced stability, resistance to moisture and temperature fluctuations, and versatility in installation options. In addition, one key factor contributing to the increased demand for this segment is its suitability for various applications, including residential, commercial, and industrial settings. Its durability and resilience make it particularly attractive for high-traffic areas, such as offices, retail spaces, and public buildings. Furthermore, this segment often incorporates sustainable practices and materials, aligning with the growing trend toward eco-friendly construction solutions, as engineered wood utilizes leftover wooden materials from other processes, promoting the efficient use of resources. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.

End-user Analysis 

Based on the end-user, the market has been segmented into residential and non-residential. The residential segment will account for the largest share of this segment. The growing construction of residential buildings, such as single-family homes, apartments, and condominiums, is driving the demand for these products. In addition, urbanization, population growth, and improving economic conditions in emerging economies are driving the growth of the global construction sector, leading to a higher demand for residential properties. Moreover, there is an increasing preference for wooden flooring among homeowners due to its aesthetic appeal, warmth, and natural beauty. Furthermore, wooden floors add elegance and charm to residential spaces, enhancing the overall ambiance and value of homes. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

Region Analysis

North America is estimated to contribute 35% to the growth of the global market during the projection period.
Technavio's analysts have provided extensive insight into market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.

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The US and Canada are the main markets of wooden floors in North America. In addition, the market in North America is fuelled by the strong growth in the regional construction industry. Moreover, the construction industry in North America has been witnessing consistent growth after the Great Recession of 2009. For instance, the construction industry is a significant contributor to the US economy. In addition, there were over 919,000 ongoing construction projects in the US in the first quarter of 2023. Furthermore, residential construction activities in the US are directly correlated to the number of single-family households. For instance, in Q1 2023, the housing market in the US witnessed a 4% growth. Therefore, with the residential construction segment being the largest end-user of wooden floors in the US, the growth in residential construction and home remodeling activities will fuel higher demand for wooden floors in the country. Furthermore, the construction industry in North America looks promising because of various initiatives undertaken by the US government, such as lowering corporate taxes as well as expected growth in GDP  in coming years. Hence, such factors are driving the market in North America during the forecast period.

Key Companies

Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches to enhance their presence in the market.

Barlinek SA: The company offers wooden flooring solutions such as Oak Lombardy Herringbone, Oak Balos Chevron, Oak Grissini, Oak Castagnole, and others.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including: 

Armstrong World Industries Inc., Bauwerk Group Schweiz AG, Beaulieu International Group, Berkshire Hathaway Inc., Boral Ltd., Broadsword Timber t as British Hardwoods., Daikin Industries Ltd., GREENBUILD WOOD INDUSTRY CO. LTD,  IM wooden floor, Junckers Industrier AS, Kahrs, kelaiwood, Lauzon, Mannington Mills Inc., Mirage, Mohawk Industries Inc., Tarkett, The Solid Wood Flooring Co, and Three Trees Flooring

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report predicts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Type Outlook 
  • Engineered wood flooring
  • Solid wood flooring
• End-user Outlook
  • Residential
  • Non-residential
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

The market is characterized by a diverse range of factors that influence its growth and development. Raw materials like natural timber, maple, and cherry play a pivotal role in crafting aesthetically appealing wood flooring options. These materials are sourced sustainably through responsible forest management practices, ensuring the renewable nature of wood and mitigating concerns related to deforestation. Wooden flooring options such as laminate flooring, vinyl flooring, ceramic tile flooring, wide plank flooring, luxury vinyl tiles, and pre-finished or unfinished hardwood floors offer visual appeal and durability, making them ideal choices for both residential and commercial interiors. Their natural textures and visual appeal contribute to their popularity among consumers seeking high-quality and long-lasting flooring solutions.

Moreover, in recent years, there has been a growing emphasis on sustainable sourcing practices, leading to the adoption of reclaimed or recycled wood, laminated wood, and pre-finished hardwood floors in the production of hard flooring products. This trend aligns with the increasing awareness of environmental issues and greenhouse gases and the desire for eco-friendly alternatives in construction and interior design. Retail stores and spaces with high foot traffic benefit from the wear and tear resistance of wooden flooring, making it a preferred choice for areas prone to heavy use. Overall, the Market continues to thrive due to its aesthetic appeal, sustainability efforts, and the enduring popularity of wood as a timeless flooring option.

Market Scope
Report Coverage	Details
Page number	168
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 5.69%
Market Growth 2024-2028	USD 7.68 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	5.51
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 35%
Key countries	US, Canada, China, Germany, and the UK
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Armstrong World Industries Inc., Barlinek SA, Bauwerk Group Schweiz AG, Beaulieu International Group, Berkshire Hathaway Inc., Boral Ltd., Broadsword Timber t as British Hardwoods., Daikin Industries Ltd., GREENBUILD WOOD INDUSTRY CO. LTD,  IM wooden floor, Junckers Industrier AS, Kahrs, kelaiwood , Lauzon, Mannington Mills Inc., Mirage, Mohawk Industries Inc., Tarkett, The Solid Wood Flooring Co, and Three Trees Flooring
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market forecast during the forecast period
• Detailed information on factors that will drive the growth of the market  between 2023 and 2028
• Precise estimation of the market  size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, APAC, Middle East and Africa, and South America
• Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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