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Global Hardwood Flooring Market, Hardwood Flooring Market size, Hardwood Flooring Market drivers, Hardwood Flooring Market trends, Hardwood Flooring Market growth forecast, Hardwood Flooring Market major players
What Are The Market Size and Growth Forecast Rates For Hardwood Flooring Global Market?
The hardwood flooring market has demonstrated robust growth in recent years, escalating from $53.35 billion in 2024 to an anticipated $56.32 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. Increased demand for aesthetic appeal, burgeoning residential construction, and shifts in architectural trends have all contributed to this growth. Forecasts indicate a further surge to $74.5 billion in 2029 at a CAGR of 7.2%, driven by factors such as sustainable sourcing, an aging population, and luxury and premium market segments.
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What Are The Key Growth Drivers Of The Hardwood Flooring Market?
The hardwood flooring market growth is primarily driven by changing customer preferences towards aesthetically appealing and sophisticated interiors. Recent studies indicate that 60% of users have utilized visual social networks to make home décor purchases, including hardwood flooring. The upsurge in attention towards improved air quality, thermal comfort, and usage of recyclable and chemical-free materials further bolster market growth.
What Are The Major Segments Within The Global Hardwood Flooring Market?
The major segments of the hardwood flooring market include:
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
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Which Are The Prominent Companies In The Hardwood Flooring Market?
Key players within 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., Duchateau LLC, Eco Timber Ltd., and Flooring Innovations Inc. among others.
What Are The Emerging Trends Influencing The Hardwood Flooring Market?
Manufacturers in the hardwood flooring market are leveraging technological advancements to launch innovative, high-performance products. These products offer attributes like reduced maintenance costs and easy installation, making them highly sought after by consumers. A prime example of this trend is the release of TimberPlus by Mannington Mills, Inc. in February 2022.
Which Region Predicts The Fastest Growth In The Hardwood Flooring Market?
North America held the largest share in the hardwood flooring market in 2024, with Asia-Pacific predicted to be the fastest-growing region in the forecast period. The report covers these regions in detail, along with others such as Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Insights Does The Hardwood Flooring Market Offer?
Hardwood flooring entices consumers with its aesthetic appeal, durability, and low-cost premium finish. The Hardwood Flooring Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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