Hardwood Flooring Market Destined to Reach US$ 61.1 Billion

The latest report by IMARC Group, titled “Hardwood Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global hardwood flooring market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global hardwood flooring market size reached US$ 47.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 61.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.

Hardwood flooring refers to a type of flooring material made from natural wood. It is characterized by the use of solid wood planks or engineered wood boards that are specifically designed for installation as a permanent floor covering. It is commonly available in various types of wood, including oak, maple, cherry, and walnut. Hardwood flooring is widely used in entryways, corridors, bedrooms, dining areas, hallways, and reception areas. It is installed using different methods, such as nail-down, glue-down, or floating installations. It exhibits durability, longevity, and aesthetic appeal that adds warmth, beauty, and a sense of natural elegance to a space. As a result, hardwood flooring is extensively used across commercial and residential spaces.

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Hardwood Flooring Market Trends:

The significant growth in the construction and remodeling activities is one of the key factors creating a positive outlook for the market. Hardwood flooring is widely used in renovating bathrooms, kitchens, living rooms, dining halls, home offices, basements, and stairs, due to its aesthetic look. In line with this, the increasing consumer inclination toward warmth, character, and elegance in homes or commercial spaces is contributing to the market growth. Furthermore, the widespread product utilization in residential spaces due to the rising health consciousness among the masses, as hardwood flooring is easy to clean and maintain, promoting better indoor air quality.

Apart from that, the introduction of engineered hardwood flooring that offers improved stability and moisture resistance, widening its application, is impelling the market growth. Other factors, including rising expenditure capacities of consumers, increasing preference for sustainable and eco-friendly options, and rapid product innovations, are supporting the market growth.

Competitive Landscape:

By IMARC group the report has also analyzed the competitive landscape of the market with some of the top hardwood flooring companies being

Some of these key players include:

• Beaulieu International Group
• Classen
• Formica

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/hardwood-flooring-market

Key Market Segmentation:

Breakup by Raw Material:

• Red Oak
• White Oak
• Maple
• Others

Breakup by End Use Sector:

• Residential Sector
• Commercial Sector

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.


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This release was published on openPR.