Hardwood Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
NEW YORK, June 21, 2019 /PRNewswire/ --
The global hardwood flooring market reached a value of more than US$ 40 Billion in 2018.
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Hardwood refers to a type of wood which is derived from dicot trees and manufactured using planks of a single piece of timber. In comparison with softwood, hardwood has a complex structure and higher density. Moreover, owing to its remarkable quality, hardwood is extensively used in the construction industry, particularly for flooring purposes. Hardwood floorings are available in a wide range of colours, styles, species, etc. and have the ability to enhance the aesthetics of commercial and residential buildings in which they are installed. Hardwood flooring are also easy to install, very easy to clean and do not accumulate the amount of dirt and dust compared to many other flooring types. Hardwood floors are also quite durable and can last for many years and can also be refinished rather than replaced when required.
Global Hardwood Market Drivers/Constraints:
The recent recovery of the construction industry represents one of the key factors facilitating the growth of the global hardwood flooring market.
Increasing infrastructure and residential projects, particularly in emerging markets, are augmenting the demand for hardwood flooring.
Hardwood flooring manufacturers are consistently coming up with innovative product varieties so as to widen their consumer-base.
Some of the other factors which are bolstering the global hardwood flooring market include rising population, rapid urbanisation, changing lifestyles, elevating disposable incomes and increasing demand for quality housing.
Stringent government laws in order to protect the environment is hampering the growth of the global hardwood flooring market. This can be accredited to the hindrances associated with acquiring raw materials which are used for manufacturing hardwood flooring.
The high price point of these products along with the availability of numerous substitutes are also anticipated to negatively impact the market.
End-User Insights:
Based on the end-use sector, the market has been segmented into commercial and residential sectors. The commercial sector currently dominates the global hardwood (Wood) flooring market.
Regional Insights:
Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst these, North America is the biggest market, followed by Europe and the Asia Pacific.
Raw Material Insights:
Based on the raw material used, the market has been segmented into red oak, white oak, maple and others. Red oak currently represents the largest type accounting for majority of the market share.
Competitive Landscape:
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
Armstrong
Bruce Flooring
Balterio Laminate Flooring
Beaulieu International Group
BerryAlloc
Classen
Egger
Formica
This report provides a deep insight into the global hardwood (Wood) flooring market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the hardwood flooring industry in any manner.
Key Questions Answered in This Report:
How has the global hardwood flooring market performed so far and how will it perform in the coming years?
What are the key regions in the global hardwood flooring market?
What is the market breakup of the global hardwood flooring market based on the end-use sector?
What are the various stages in the value chain of the hardwood flooring market?
What are the key drivers and challenges in the hardwood flooring market?
What is the level of competition in the hardwood flooring market?
Who are the key players in the hardwood flooring market?
What are the margins in hardwood flooring?
What are the raw material requirements for hardwood flooring?
What are the various unit operations involved in a hardwood flooring manufacturing plant?
What is the total size of land required for setting up a hardwood flooring manufacturing plant?
What are the machinery requirements for setting up a hardwood flooring manufacturing plant?
What are the packaging requirements for hardwood flooring?
What are the transportation requirements for hardwood flooring?
What are the utility requirements for setting up a hardwood flooring manufacturing plant?
What are the manpower requirements for setting up a hardwood flooring manufacturing plant?
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