Wood Flooring Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 10.69 Billion |
| Market Size (2029) | USD 13.29 Billion |
| CAGR (2024 - 2029) | 4.45 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Wood Flooring Market Analysis
The Wood Flooring Market size is estimated at USD 10.69 billion in 2024, and is expected to reach USD 13.29 billion by 2029, growing at a CAGR of 4.45% during the forecast period (2024-2029).
The wood flooring market has witnessed significant growth and evolution over the years, driven by increasing urbanization, rising disposable income, growing awareness of sustainable construction materials, and changing consumer preferences for aesthetic and durable flooring options.
One of the key drivers behind the growth of the wood flooring market is the increasing emphasis on sustainability and environmental consciousness. With concerns about climate change and deforestation, there's a growing preference for eco-friendly building materials. Particularly, wood flooring that is sourced from forests is sustainably managed and has certification from groups like the Forest Stewardship Council (FSC), which resonates well with environmentally conscious consumers. In response to this demand, manufacturers are providing a variety of sustainable wood flooring solutions, including reclaimed wood and bamboo flooring, which are gaining popularity due to their eco-friendly attributes.
The growing trend of customization and personalization in interior design is fueling the demand for wood flooring products that offer unique textures, finishes, and colors. Manufacturers are leveraging digital printing and staining techniques to create wood flooring designs that mimic rare wood species or feature intricate patterns, allowing consumers to achieve their desired aesthetic without the high cost or environmental impact associated with rare or exotic woods.
Wood Flooring Market Trends
Engineered Wood Flooring is Boosting the Market’s Growth
Engineered wood flooring holds a larger market share compared to solid wood flooring. Engineered wood is dimensionally more stable than solid hardwood, featuring less expansion and contraction with changes in temperature and humidity. This stability allows engineered wood to be installed in environments where solid hardwood may not be suitable, such as basements or rooms with underfloor heating systems. Additionally, engineered wood is often available at a lower price point than solid hardwood while still providing a similar aesthetic appeal.
Engineered wood flooring typically utilizes a top layer of real wood, offering the natural beauty and warmth of hardwood with enhanced durability. Compared to laminate flooring, engineered wood provides a more authentic look and feel, as it is constructed using genuine wood veneers rather than printed images. The versatility, durability, and aesthetic appeal of engineered wood make it a popular choice for homeowners seeking high-quality flooring solutions.
North America is Leading the Wood Flooring Market
The wood flooring market in North America is defined by steady growth, driven by factors such as increasing construction activities, rising renovation and remodeling projects, and a growing preference for eco-friendly and sustainable building materials. In the United States and Canada, solid hardwood flooring has historically been a popular choice, valued for its timeless appeal and durability. However, engineered wood flooring has gained significant traction in recent years due to its enhanced stability, versatility, and resistance to moisture, making it suitable for various applications, including areas with high humidity levels or radiant heating systems.
Additionally, the demand for wood flooring products approved by Forest Stewardship Council (FSC) certification bodies is increasing, reflecting consumers' growing awareness of environmental sustainability. Trends such as wider plank widths, textured finishes, and the use of reclaimed wood contribute to the diversity of offerings in the North American wood flooring market. Technological advancements in manufacturing techniques have led to the development of innovative wood flooring products, meeting consumers' changing needs and interests. Overall, the wood flooring market in North America is dynamic and competitive, with growth opportunities driven by factors such as urbanization, design trends, and advancements in sustainable practices.
Wood Flooring Industry Overview
The wood flooring market is highly competitive, with several key players dominating the market. Companies like Mohawk Industries, Armstrong World Industries, Mannington Mills Inc., Barlinek SA, and Shaw Industries Group are prominent players, offering a wide range of wood flooring products. Additionally, the market also sees competition from regional and local players, focusing on niche segments or specific geographical areas.
Wood Flooring Market Leaders
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Armstrong Flooring Inc.
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Mannington Mills Inc.
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Mohawk Industries
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Shaw Industries Group
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Barlinek SA
*Disclaimer: Major Players sorted in no particular order
Wood Flooring Market News
- December 2023: Mohawk Group and Scanalytics, a smart flooring firm with its headquarters in Milwaukee, Wisconsin, entered a partnership to lower emissions from the built environment.
- August 2023: Johnson Hardwood announced that The R.A. Siegel Company would represent it in the Southeast territories, including Florida, Georgia, Alabama, South Carolina, North Carolina, and the eastern portions of Tennessee. The R.A. Siegel Company offers Johnson’s complete floor coverings, including SPC/rigid core, high-performance laminate, and premium hardwood flooring.
Wood Flooring Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Construction and Renovation Activities
- 4.2.2 Increasing Focus on Sustainable and Eco-friendly Products
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4.3 Market Restraints
- 4.3.1 Competition from Alternative Flooring Market
- 4.3.2 High Price of Raw Materials
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4.4 Market Opportunities
- 4.4.1 Advancements in Wood Flooring Technology, Such as Enhanced Finishes and Installation Techniques
- 4.4.2 Rising Customization and Design Trends
- 4.5 Value Chain Analysis
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4.6 Industry Attractiveness: Porter's Five Forces Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitutes
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Insights into Technological Advancements in the Industry
- 4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Product
- 5.1.1 Solid Wood
- 5.1.2 Engineered Wood
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5.2 By Distribution Channel
- 5.2.1 Home Centers
- 5.2.2 Flagship Stores
- 5.2.3 Specialty Stores
- 5.2.4 Online Stores
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5.3 By End-User
- 5.3.1 Residential
- 5.3.2 Commercial
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5.4 By Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Rest of North America
- 5.4.2 Europe
- 5.4.2.1 United Kingdom
- 5.4.2.2 Germany
- 5.4.2.3 France
- 5.4.2.4 Russia
- 5.4.2.5 Italy
- 5.4.2.6 Spain
- 5.4.2.7 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 India
- 5.4.3.2 China
- 5.4.3.3 Japan
- 5.4.3.4 Australia
- 5.4.3.5 Rest of Asia-Pacific
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle East and Africa
- 5.4.5.1 United Arab Emirates
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Mohawk Industries
- 6.2.2 Armstrong World Industries
- 6.2.3 Mannington Mills Inc.
- 6.2.4 Barlinek SA
- 6.2.5 Shaw Industries Group
- 6.2.6 Beaulieu International Group
- 6.2.7 Home Legend LLC
- 6.2.8 Provenza Floors Inc.
- 6.2.9 Boral Limited
- 6.2.10 Tarkett SA*
- *List Not Exhaustive
7. FUTURE MARKET TRENDS
8. DISCLAIMER AND ABOUT US
Wood Flooring Industry Segmentation
The wood flooring market encompasses the production, distribution, and sale of flooring materials made primarily from wood.
The wood flooring market is segmented by product, distribution channel, end-user, and geography. By product, the market is segmented into solid wood and engineered wood. By distribution channel, the market is segmented into home centers, flagship stores, specialty stores, and online. By end user, the market is segmented into residential and commercial. By geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report offers market size and forecasts in value terms (USD) for all the above segments.
| By Product | Solid Wood | |
| Engineered Wood | ||
| By Distribution Channel | Home Centers | |
| Flagship Stores | ||
| Specialty Stores | ||
| Online Stores | ||
| By End-User | Residential | |
| Commercial | ||
| By Geography | North America | United States |
| Canada | ||
| Rest of North America | ||
| By Geography | Europe | United Kingdom |
| Germany | ||
| France | ||
| Russia | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | India |
| China | ||
| Japan | ||
| Australia | ||
| Rest of Asia-Pacific | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| By Geography | Middle East and Africa | United Arab Emirates |
| South Africa | ||
| Rest of Middle East and Africa |
Wood Flooring Market Research FAQs
How big is the Wood Flooring Market?
The Wood Flooring Market size is expected to reach USD 10.69 billion in 2024 and grow at a CAGR of 4.45% to reach USD 13.29 billion by 2029.
What is the current Wood Flooring Market size?
In 2024, the Wood Flooring Market size is expected to reach USD 10.69 billion.
Who are the key players in Wood Flooring Market?
Armstrong Flooring Inc., Mannington Mills Inc., Mohawk Industries, Shaw Industries Group and Barlinek SA are the major companies operating in the Wood Flooring Market.
Which is the fastest growing region in Wood Flooring Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Wood Flooring Market?
In 2024, the North America accounts for the largest market share in Wood Flooring Market.
What years does this Wood Flooring Market cover, and what was the market size in 2023?
In 2023, the Wood Flooring Market size was estimated at USD 10.21 billion. The report covers the Wood Flooring Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Wood Flooring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Wood Flooring Industry Report
Statistics for the 2024 Wood Flooring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Wood Flooring analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
