The
global wood and laminate flooring market is expected to
reach USD 92.64 billion by 2020, according to a new study by Grand View
Research, Inc. Technological advancements have led to the development of new
innovative products and do-it-yourself (DIY) installation techniques, which has
substantially widened the scope across residential as well as commercial flooring
applications. Increasing demand in the new construction and home improvement
sectors is expected to be the key driving force for the wood & laminate
flooring market over the forecast period.
Raw
material costs have had a significant impact on the wood & laminate
flooring industry. The volatile prices of wood and other raw materials and the
increasing costs of production are expected to challenge wood & laminate
flooring industry growth over the forecast period. Stringent laws and
regulations against deforestation by governments across the globe and the
consequent need of imports of raw materials have shrunk manufacturers’ profits
to a large extent. Increasing concern over environmental impact has
considerably affected the wood & laminate flooring market.
Browse full
research report on Wood And Laminate Flooring Market: www.grandviewresearch.com/industry-analysis/wood-and-laminate-flooring-market
Further key
findings from the report suggest:
- Engineered wooden floors have gained prominence
over the last few years owing to favorable characteristics such as
cost-effectiveness, exclusiveness, and dimensional stability. Solid wood
constitutes a significant market share owing to its moderate price, albeit
installation and finishing considerably increase the total time and cost
requirements. Although a vast majority of the market is comprised of
hardwood species, softwood flooring is used in niche applications.
- Wood & laminate flooring is primarily
preferred in residential applications with residential replacement
generating significant demand. Residential new construction and commercial
sectors such as retail have increasingly adopted wood & laminate
flooring solutions. Owing to their ability to sustain high traffic, laminate
flooring has witnessed a surge in demand from commercial sectors.
- Increased demand from the BRIC countries
(Brazil, Russia, India, and China) is expected to open up new avenues for
wood & laminate flooring market growth over the forecast period. Changing
lifestyles coupled with increasing construction activity in Asia Pacific
are expected to propel market growth in the region. Wood flooring demand
in regions experiencing perennially cold climatic regions such as the U.S.
and majority of the European countries is expected to be augmented as wood
helps to maintain warmth.
- Key wood & laminate flooring market players
include Shaw Industries, Pergo, Mohawk Industries, Millstead, Mannington
Mills, Interface, Bruce, and Armstrong. Emerging market players have innovated
to make their presence felt in the industry. Some of the recent trends
include Smith & Fong Corporation’s side-ways flooring and Columbia
Forest Products’ & Teragren’s PureBond technology flooring.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global wood & laminate flooring
market on the basis of product, application, and region:
Wood & Laminate
Flooring Product Outlook (Volume, Billion Square Feet & Revenue, USD
Billion; 2012 - 2020)
- Wood
Flooring
- Red oak
- White
oak
- Maple
- Others
- Laminate
Flooring
Wood &
Laminate Flooring Application Outlook (Volume, Billion Square Feet &
Revenue, USD Billion; 2012 - 2020)
- Residential
- Commercial
- Industrial
Wood &
Laminate Flooring Regional Outlook (Volume, Billion Square Feet & Revenue,
USD Billion; 2012 - 2020)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- Middle
East & Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-wood-and-laminate-flooring-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
