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How Much Is the Hardwood Flooring Market Worth in 2025 and Beyond?
The size of the hardwood flooring market has consistently expanded in the past few years. The market is anticipated to increase from $53.35 billion in 2024 to $55.74 billion in 2025, with a compound annual growth rate (CAGR) of 4.5%. The growth during the historic period can be credited to a rise in demand for aesthetic value, spike in residential construction, durability and endurance, the real estate market, and architectural trends.
The market for hardwood flooring is projected to experience substantial growth in the forthcoming years, expanding to $72.93 billion by 2029 with a compound annual growth rate (CAGR) of 7.0%. Factors contributing to this predicted growth during the forecast period include sustainable sourcing and certification, an increasing aging population, trends towards customization and personalization, a focus on luxury and premium segments, and emerging markets showing promise. Key trends within this predicted period include the production of engineered hardwood flooring, the use of unusual and exotic wood types, the deployment of digital visualization tools, favoring of matte and low-gloss finishes, and the rise of herringbone and chevron patterns.
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What Are the Market Drivers Behind the Increasing Adoption of Hardwood Flooring Industry?
The rise in demand for visually pleasing and intricate interiors by both commercial and residential building clients is fueling the expansion of the hardwood flooring market. These clients are progressively concentrating on revamping their interiors with a primary emphasis on enhancing air quality, thermal satisfaction, internal lighting quality, the application of recyclable components, and materials free from chemicals. A study conducted by Pinterest reports that 60% of users employ social visual networks when deciding on home decoration purchases. The shift in client inclinations is predicted to escalate the utilization of hardwood flooring in interior design throughout various sectors globally.
What Are the Emerging Segments in the Global Hardwood Flooring Market?
The hardwood flooring market covered in this report is segmented -
1) By Product Type: Solid Wood, Engineered Wood
2) By Raw Material: Red Oak, White Oak, Maple, Other Raw Materials
3) By Design Outlook: Plank, Strip, Parquet, Other Designs
4) By Distribution Channel: Offline Stores, Online Stores
Subsegments:
1) By Solid Wood: Oak, Maple, Cherry, Hickory, Walnut
2) By Engineered Wood: Multi-Layer Engineered Wood, Thin-Profile Engineered Wood, Specialty Engineered Wood
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What Key Market Trends Are Enabling Innovation in the Hardwood Flooring Industry?
The hardwood flooring market is increasingly being influenced by the emerging trend of technological innovation. Many manufacturers within this industry are introducing groundbreaking products, aiming to provide high-quality hardwood flooring that can withstand a range of external conditions. As an example, in February 2022, Mannington Mills, Inc., a company based in the US specializing in flooring solutions, introduced a product called TimberPlus.
This hardwood flooring solution boasts a straightforward installation process, cost-effective operations, and diminished maintenance costs.
Who Are the Top Companies in the Global Hardwood Flooring Market by Revenue?
Major companies operating in the hardwood flooring market include AHF Products, Armstrong Flooring Inc., Beaulieu International Group, BerryAlloc NV, Bruce Evans Flooring LLC, Classen Group, Egger Group, Formica Corporation, Harris Wood Ltd., Anderson Group of Companies Ltd., Boral Ltd., Brumark Enterprises Inc., Duchateau LLC, Eco Timber Ltd., Flooring Innovations Inc., Gerflor SAS, Goodfellow Inc., Hartco Inc., Mohawk Industries Inc., Mannington Mills Inc., Home Legend LLC, Somerset Hardwood Flooring Inc., Provenza Floors Inc., Shaw Industries Group Inc., Pergo LLC, Mullican Flooring, Mirage Floors, Lauzon Distinctive Hardwood Flooring Inc., Wickham Hardwood Flooring, Mercier Wood Flooring, IndusParquet Indústria de Pisos Ltda
Which Region Is Projected to Capture the Highest CAGR in the Hardwood Flooring Market?
North America was the largest region in the hardwood flooring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hardwood flooring market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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