Allied Market Research recently published a report, titled, “Wooden Floor Market by Product (Engineered wood and Solid wood) and Application (Residential and Non-Residential): Global Opportunity Analysis and Industry Forecast, 2018–2025”. The report provides extensive analyses of the top investment pockets, drivers & opportunities, competitive landscape, and strategic moves by key market players. According to the report, the global wooden floor market was pegged at $90.63 billion in 2017 and is expected to reach $141.09 billion in 2025, registering the CAGR of 5.9% from 2017 to 2025.
Surge in residential and commercial construction activities, increase in disposable income, and rise willingness to spend in home décor are expected to propel the growth of the global wooden floor market.
Surge in residential and commercial construction activities, increase in spending in home remodeling, and wide range of benefits offered by wooden floor have boosted the market growth. However, fluctuating prices of wood and raw materials and threat from substitute products hamper the market growth. On the contrary, increase in disposable income in developing countries is expected to create lucrative opportunities for the market players in the coming years.
Engineered wooden floor segment holds the lion’s share
The engineered wooden floor segment garnered about two-thirds share of the market in 2017, holding the largest share of the wooden floor market. However, solid wooden floor segment is expected to register the fastest CAGR of 5.1% during the forecast period.
Non-residential application to grow fastest by 2025
The non-residential application segment is estimated to portray the fastest CAGR of 5.1% during the study period. However, the residential segment held the largest share, contributing about 59% share of the market and is expected to dominate the market throughout the study period.
Asia-Pacific to manifest fastest growth through 2025
Asia-Pacific region is projected to manifest the fastest CAGR of 5.6% during the forecast period. However, Europe held the largest market share in 2017, contributing about 48% share of the market and is estimated to dominate the market from 2018 to 2025.
Major market players
The major market players that are active in the global wooden floor industry are analyzed in the report such as Armstrong, Beaulieu International Group, Boral Limited, Kährs Holding AB, Mohawk Industries, Berkshire Hathaway, Brumark Corporation, Mannington Mills, Nature Home Holding Company Limited, and Tarkett. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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