The global wood flooring manufacturing market is seeing a steady upswing currently on account of the increased preference for wood flooring due to its durability and restorability. The market can be segmented into solid, acrylic impregnated, and engineered wood. Bamboo flooring also falls under the ambit of wood flooring. Wood flooring comes in different shapes such as parquet, strips, and planks. Raw materials used in wood flooring include birch, oak, walnut, ash, maple, birch, beech, etc. Among them, oak is the most popular due to its strength, lesser cost, appearance, and wide availability. In fact, red oak accounts for about a majority of wood flooring sales.
In the report, Transparency Market Research provides a detailed analysis of the global wood flooring market by segmenting it based on various parameters and presenting an in-depth analysis of each segment. It studies the various growth drivers and restraints in the market, besides evaluating the prevailing trends. The report also includes sagacious inputs from experts in the industry.
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A detailed assessment of the current vendor landscape is presented in the report. It not only profiles the prominent players operating in the market, but also brings to the fore their strengths and weaknesses. Using industry-leading analytical tools, the report gauges the threats and opportunities that these companies may face over the course of the forecast period between 2016 and 2024.
Global Wood Flooring Manufacturing Market: Drivers and Trends
Driving the demand in the global wood flooring manufacturing market is the increasing housing construction and remodeling activities. With the rapid pace of urbanization worldwide, the housing industry has received a major fillip. There has been a continued uptick in activity in the commercial real estate and building remodeling and renovation works. This has majorly contributed to the market along with increasing purchasing power of discerning consumers, who are increasingly opting for green buildings. The rising popularity of pre-finished products and manufactured floors has also driven demand in the market. Additionally, wood products are being increasingly recycled. This is another cause for the soaring popularity of wooden floors.
Countering the growth in the market are unstable prices of wood and other raw materials, strict regulatory norms, and rising cost of production. Another crucial market restraint is the growing thrust on environment which has led to strict policies against rampant deforestation. Further, stiff competition from substitutes such as ceramic tiles, carpet, and vinyl is also thwarting the growth in the market.
A trend noticed in the manufacturing process is the increased thrust on automating processes to boost efficiency and improve safety. Although labor is used in the industry to craft products, operators are increasingly investing in enhanced technologies to cut down on manufacturing costs.
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