The Business Research Company’s report on the Hardwood Flooring Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the hardwood flooring market in recent years?
The rapid inclination toward aesthetically appealing and sophisticated interiors by residential and commercial building customers is driving the growth of the hardwood flooring market. Residential and commercial building customers are increasingly focused on redefining the interiors with a major focus on improving air quality, thermal comfort, quality of internal lighting, using recyclable materials, and chemical-free materials. According to the study published by Pinterest, 60% of users have used social visual networks to make decisions on home décor purchases. The change in customer preferences is expected to boost the usage of hardwood flooring in interior design in different sectors across the globe.
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What is the projected market size of the hardwood flooring industry, and how is it expected to grow?
The hardwood flooring market size has grown strongly in recent years. It will grow from $53.35 billion in 2024 to $56.32 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increased demand for aesthetic appeal, increased residential construction, durability and longevity, real estate market, architectural trends.
The hardwood flooring market size is expected to see strong growth in the next few years. It will grow to $74.5 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to sustainable sourcing and certification, increasing aging population, customization and personalization, luxury and premium segments, rising emerging markets. Major trends in the forecast period include engineered hardwood flooring, exotic and unique wood species, digital visualization tools, matte and low-gloss finishes, herringbone and chevron patterns.
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Who are the key players driving competition in the hardwood flooring market?
Major companies operating in the hardwood flooring market include AHF Products, Armstrong Flooring Inc., Beaulieu International Group, BerryAlloc NV, Bruce Evans Flooring LLC, Classen Group, Egger Group, Formica Corporation, Harris Wood Ltd., Anderson Group of Companies Ltd., Boral Ltd., Brumark Enterprises Inc., Duchateau LLC, Eco Timber Ltd., Flooring Innovations Inc., Gerflor SAS, Goodfellow Inc., Hartco Inc., Mohawk Industries Inc., Mannington Mills Inc., Home Legend LLC, Somerset Hardwood Flooring Inc., Provenza Floors Inc., Shaw Industries Group Inc., Pergo LLC, Mullican Flooring, Mirage Floors, Lauzon Distinctive Hardwood Flooring Inc., Wickham Hardwood Flooring, Mercier Wood Flooring, IndusParquet Indústria de Pisos Ltda
What key trends are expected to drive the handwriting digital pens market during the forecast period?
Technological advancement is a key trend gaining popularity in the hardwood flooring market. Manufacturers operating in the hard flooring market are launching innovative products to offer high-performance hardwood flooring and products that are resistant to various external factors. For instance, in February 2022, Mannington Mills, Inc., a US-based manufacturer of flooring solutions, launched TimberPlus. TimberPlus is a hardwood flooring solution that offers easy installation, low-cost operations, and reduced maintenance costs.
Which key geographies are driving the growth of the hardwood flooring market?
North America was the largest region in the hardwood flooring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hardwood flooring market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What are the key segments driving growth in the hardwood flooring market?
The hardwood flooring market covered in this report is segmented –
1) By Product Type: Solid Wood, Engineered Wood
2) By Raw Material: Red Oak, White Oak, Maple, Other Raw Materials
3) By Design Outlook: Plank, Strip, Parquet, Other Designs
4) By Distribution Channel: Offline Stores, Online Stores
Subsegments:
1) By Solid Wood: Oak, Maple, Cherry, Hickory, Walnut
2) By Engineered Wood: Multi-Layer Engineered Wood, Thin-Profile Engineered Wood, Specialty Engineered Wood
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How is the hardwood flooring market defined, and what are its core characteristics?
Hardwood flooring refers to any timber-based product, whether functional or aesthetically pleasing, made with hardwood to provide strength and shear strength to the surface. Hardwood flooring is highly attractive, low-cost, and offers a premium finish over the other flooring materials.
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