Wood Flooring Market - Global Industry Report, 2027
Wood Flooring Market: Key Highlights
The global wood flooring market was valued at ~ US$ 73.4 Bn in 2018, and is
anticipated to expand at a CAGR of ~ 6% during the forecast period.
The global wood flooring market is driven by the rise in the demand for home in
Europe accounts for a prominent share of the global wood flooring market, led by an
increase in the demand for residential housing in the region, which is supported by
Residential Sector to Offer Attractive Opportunities
In terms of demand, the residential segment dominated the global wood flooring
market. This trend is likely to continue during the forecast period too. Wood flooring
is largely used in the residential sector to enhance aesthetic appeal. Wood flooring
offers a rich look to the home interiors.
Wood flooring is made from organic material. It is non-electromagnetic in nature;
therefore, it attracts less dust. Hence, wood flooring is widely used in residences for
the safety of infants and children, and can last a lifetime.
Download PDF Brochure –
Risk of Substitution Coupled with Potential Health Hazards to Hamper Market
The availability of various substitutes such as ceramic tiles, carpets and rugs, laminates, and
cork flooring for wood flooring products is expected to act as a major restraining factor for
the global wood flooring market during the forecast period. Costs involved in the production
of wood flooring are higher than those of other types of flooring. This is expected to hamper
the demand for wood flooring in the near future.
Substitutes for wood flooring include:
Luxury Vinyl Plank Flooring: Currently, this is one of the most innovative flooring
products available in the marketplace. Luxury vinyl planks look and feel similar to
real hardwood, but are waterproof. Hence, these are suitable for use in areas that have