Big Trends in Wooden Floor Market to Make Great Impact in Near Future over 2025
According to
a new report published by KD Market Insights, titled, Wooden Floor
Market: Global Opportunity Analysis and Industry Forecast, 2018-2025, the
global wooden floor market was valued at $90,638.1 million in 2017, and is
projected to reach $141,091.3 million in 2025, growing at a CAGR of 5.9%, while
in terms of volume, the market is expected to grow at a CAGR of 4.7% by 2025.
The engineered wood segment accounted for more than two-thirds of the market
share in 2017, and is expected to witness significant growth during the
forecast period.
A wooden
floor is a type of hard surface flooring, which lasts for decades, can be
cleaned easily, and is hygienic than other flooring. There is an increase in
demand for the flooring, owing to rise in construction projects across
different regions of the world. In addition, its installation enhances the
beauty adds value, and makes the room look spacious, which are expected to
propel the growth of the market. However, high cost of manufacturing is
anticipated to restrain the market growth.
Based on the
application, the residential segment is expected to account for the largest
share in the global market during the forecast period, due to increase in
investments in North American, Asia-Pacific, and African countries. Based on
the product segment, engineered wood is expected to grow at a significant CAGR
during the forecast period, owing to its various benefits, such as high resale
value, and high perceived & monetary value.
Key
Findings of the Wooden Floor Market:
- Based on
application, the residential segment dominated the market in terms of revenue
in 2017, and is projected to grow at a CAGR of 5.6% during the forecast period.
- Europe generated the highest revenue in 2017, and Asia-Pacific is anticipated to grow at the highest CAGR of 7.0%.
- The engineered wood segment generated the highest revenue in 2017, and is estimated to grow at the rate of 6.3%.
- In Asia-Pacific, China accounted for the largest market share in 2017.
- Europe generated the highest revenue in 2017, and Asia-Pacific is anticipated to grow at the highest CAGR of 7.0%.
- The engineered wood segment generated the highest revenue in 2017, and is estimated to grow at the rate of 6.3%.
- In Asia-Pacific, China accounted for the largest market share in 2017.
The key
players profiled in this report include Armstrong, Beaulieu International
Group, Berkshire Hathaway, Boral Limited, Brumark Corporation, Khrs Holding AB,
Mannington Mills, Mohawk Industries, Nature Home Holding Company Limited, and
Tarkett.
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up to date with the latest trends in the market.
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