Solid Wood Flooring Market Size, Share, Growth, And Industry Analysis by Type (Oak, Mahogany, Lyptus, Ash, Hickory, Pine, Cherry, Brazilian Cherry, Walnut, Rosewood, Maple, Bamboo) by Application (Family, Building, Park & Other) Regional Forecast From 2023 To 2030

Updated On: 13 November 2023

SOLID WOOD FLOORING MARKET REPORT OVERVIEW

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The global solid wood flooring market size was USD 44.0915 billion in 2021 and the market is expected to reach USD 66.805 billion in 2027, exhibiting a CAGR of 7.17 % during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with solid wood flooring market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Oak, teak, balsa, maple, and walnut are a few examples of dicot blooming trees that produce hardwood. Solid wood is a term used to describe wood that comes from dicot trees and is produced as planks from a single piece of timber. Solid wood is frequently used for flooring in both commercial and residential settings because it has a more complicated structure and higher density than softwood. Since solid wood flooring is made in a variety of styles, colours, and cuts, customers may choose from a wide range of patterns and purposes. The floor has a beautiful visual appeal because to the wood's distinctive look and texture. Because of their natural durability, solid wood flooring continue to survive longer after installation. Additionally, they are easy to install and require little to no regular upkeep. They do not collect dust, mould, pollen, particles, or other allergens in their fibres or grout lines, making cleaning simpler and improving the quality of the air in general.

The widespread use of wood flooring in construction is anticipated to fuel the solid wood flooring market size. Since wood is formed of natural materials, it is incredibly strong and resistant to normal wear and tear. Compared to other flooring types, it may offer improved aesthetic appeal. Both the business and residential sectors frequently use wood flooring. Given that wood is a renewable resource, wood flooring is environmentally friendly. As more buildings are older and need restoration, upkeep, repair, and remodeling, the renovation industry has been expanding steadily and is expected to rise considerably over the next several years. According to the revenue analysis of the wood flooring industry, manufacturers should concentrate on mergers and acquisitions to grow their businesses and broaden their geographic reach. Due to changes in consumer lifestyles and an increase in remodeling activities, the market is anticipated to develop in the near future.

COVID-19 Impact: Demand For Parquet In Retrofitting Applications To Reduce The Impact Of COVID-19 On The Market

Due to limitations in logistics and transportation of both people and materials, Covid-19 has had a significant influence on the performance of the construction sector. Additionally, the concentration of consumers on spending their money on necessities has been harming the market's performance. However, during the lockdown that has been declared by various nations, including China, India, Germany, and Brazil, individuals are restricted to their homes. Due to this, there is a greater demand for goods that lower stress levels while increasing productivity. Customers favour wood and laminate flooring for house renovations during the epidemic because of their natural looks. Offices and hotels in the business sector have shown a rising desire for these flooring options to design the interiors to make the staff and guests feel at home. These elements are presenting a chance for market expansion in the near term. 

Latest Trends

"The Market To Thrive As A Result Of The Expanding Trend Of Innovative Wood Flooring"

The introduction of new products and changes in consumer preferences have caused the worldwide market for wood flooring to evolve quickly. Current market trends for solid wood flooring show that consumers are choosing flooring products that are more affordable, more effective, and environmentally friendly. Compared to the market for luxury vinyl tiles, the demand for solid wood or engineered wood has been increasing quickly. This is due to the extra advantages that these materials provide, such as simplicity in cleaning, greater acoustics, a premium look, strength, durability, and a high standard of indoor air quality. There are several solid wood species, stains, hues, and styles to choose from. Additionally, there are pre-finished and raw solid wood floor options. These flooring provide a beneficial option for indoor settings. Unlike carpets, which include fibres, grout lines, and embossing that can collect dust, pollen, particulates, animal dander, and allergies, solid wood flooring don't have any of these features. As a result, there are numerous opportunities for innovation, as well as for the branding and rebranding of brand-new and better flooring goods, on the market for solid wood flooring. 

SOLID WOOD FLOORING MARKET SEGMENTATION

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• By type

Depending on solid wood flooring given are types: Oak, Mahogany, Lyptus, Ash, Hickory, Pine, Cherry, Brazilian Cherry, Walnut, Rosewood, Maple, Bamboo. The Oak type will capture the maximum market share through 2027.

• By Application

The market is divided in Family, Building, Park & Other based on application. The global solid wood flooring market  players in cover segment like Family will dominate the market share during 2021-2027.

Driving Factors

"Consumer-Friendly Building Designs Are In Increasing Demand To Support Market Growth"

The rapid growth of the world's population has led to a significant need for housing facilities to house the growing population. To make their lives easier, consumers pay close attention to the building's interior and design either creating a house from scratch or choosing one that has already been completed. The flooring is one such item that has prolonged interaction with the human body. As a result, choosing an appropriate flooring option is essential when planning a building's interior. Solid wood flooring not only satisfies the requirements for reasonable moisture management capacity, strong impact and scratch resistance, and high durability, but it also has a high level of inertness to chemicals and spills. They are a great flooring option because they satisfy customer demands for natural visual and tactile aesthetics. Additionally, it is anticipated that the development of a variety of grades and designs of engineered wood floors to replicate the appearance and texture of different trees and other environmental items would help to expand the solid wood flooring market growth.

"Rising Demand For Wood Flooring In The Building Sector  To  Boost Market Growth"

The aspect of interiors that interacts with inhabitants the most and takes up the most space is the flooring. Through the use of diverse colours and materials, wood flooring is employed in numerous interior designs to produce distinct aesthetic trends. Wood floors may make a room feel cozier, provide depth to the visual layers, and give our feet a chance to experience the cozy wood grain. Solid wood flooring is easier to maintain and less likely to incur harm. The cost of maintenance and repair will probably decline over time. Additionally, solid wood flooring are extremely durable and may endure for many generations; as a result, they are a cost-effective alternative for flooring. Significant solid wood flooring market growth is being driven by growing consumer demand for flooring with increased durability and attractiveness.

Restraining Factors

"The Availability Of Alternatives Like Laminate Flooring To Impede Market Growth"

The availability of alternatives like laminate flooring may somewhat impede market revenue development. Due to its strong water resistance, laminate is becoming more and more popular since it works so well in environments with a lot of moisture. Laminate floors are simple to maintain and don't require any special cleaning agents. Laminate is a great option in situations or areas where there is a greater risk of staining since it does not stain as easily as hardwood. Furthermore, the installation and polishing of solid wood floors involve the use of several solvent-based, extremely combustible materials. This might increase the risk of fire and explosion and have a negative impact on the people installing the flooring. These are a few aspects that are anticipated to restrict solid wood flooring market growth in the future.

SOLID WOOD FLOORING MARKET REGIONAL INSIGHTS

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"Increasing Demand For Hardwood Flooring In Both Residential And Commercial Structures Has Given North America The Market's Dominant Position "

Due to rising product consumption during the building and decoration of residential and commercial buildings in the U.S., the market in North America is anticipated to account for the biggest solid wood flooring market share throughout the projected period. The market may be greatly impacted by Canada's unanticipated increase in demand for new office buildings and spaces. Other factors influencing the market's revenue growth during the projected period include the engineered wood's strength and aesthetic appeal. The taste for tropical wood flooring in rich, gorgeous, and opulent patterns, the introduction of reasonably priced engineered wood flooring solutions, the expansion of the middle class, and their changing attitudes toward flooring decors are the main drivers of this rise. 

Over the course of the projected period, the European solid wood flooring market share is anticipated to post a sizable revenue CAGR. The biggest markets for engineered wood flooring are Scandinavian nations including Norway, Sweden, and Finland. There is a demand for flooring materials that can work with subterranean heating systems since the temperature in these nations can change substantially. Over the course of the projection period, the engineered wood flooring market in the area will see revenue development due to this type of flooring's shown high effectiveness in providing stability and cold resistance.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Shaw Industries (U.S)
• Interface (U.S)
• Bruce (U.S)
• Lumber Liquidators (U.S)
• Armstrong (U.S)
• The Woods Company (U.S)
• Mohawk Industries (U.S)
• Smith & Fong Corporation (U.S)
• Mannington Mills (U.S)
• Carlisle (U.S)
• Brumark Corporation (U.S)
• Hearne Hardwoods (U.S)
• USFloors (U.S)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.