Wood Flooring Market Size, Share and Growth Factor Analysis Research Report 2027

wood flooring market size

The global wood flooring market size is expected to showcase considerable growth by reaching USD 41,682.2 million by 2027. This is attributable to the increasing government support to promote wood products for construction activities and the surging demand for consumer-friendly building designs that propel the demand for advanced solutions globally. This information is published by Fortune Business Insights, in its latest report, titled, “Wood Flooring Market Size, Share & COVID-19 Impact Analysis, By Application (Residential and Commercial), and Regional Forecast, 2020-2027.” The report mentions that the market stood at USD 33,279.5 million in 2019 and is likely to exhibit a CAGR of 3.6% between 2020 and 2027.

Refurbishment of Home Spaces amid COVID-19 to Augment Growth

The novel coronavirus has halted the construction activities owing to the government guidelines to maintain social distancing. With people confined at their home spaces, home renovation activities have gained momentum. This is expected to favor the growth of the global market in the forthcoming years.

Wood flooring is a type of flooring that uses wood to fulfill the consumer’s demand for aesthetic, comfort, and looks during construction of buildings or home spaces. The growing demand for sustainability in the construction sector, while designing buildings is propelling the adoption for wood parquets across the globe.

What does the Report Include?

The market report includes a detailed assessment of various drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive insights into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several research methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnership, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027. 

DRIVING FACTORS

Increasing Government Support to Promote Wooden Products to Surge Demand

YOU MAY ALSO LIKE
Advantages of Outsourcing ePub Conversion Services
epub conversion

The pub is a virtual e-book layout that makes use of the “. ePub conversion services" as an Read More

Skyrocket Your Standalone Stores Revenue Using Instacart Clone App
Instacart Clone App

Grocery business owners have been always relied on the grocery stores to grow their sales. Till now customers Read More

Gojek Clone: Explore The Brilliant Ways To Launch An On-Demand Multi Services CubeJekX 2021 App
Gojek Clone App

Launch a Successful Gojek Clone App! This sentence is enough alluring to catch entrepreneur’s attention and lure them Read More

What are the advantages of employing handyman services?
handyman services

Home upkeep is a great deal of work, particularly with issues continually springing up. From cooling to plumbing Read More

The extensive adoption of constructional products such as gravel, cement, steel, and plastic leads to environmental stress. The growing demand for the adoption of sustainable products is propelling the government to promote wood products that are natural and easily decomposable. This is expected to drive the demand for advanced wood flooring solutions across the globe. In addition to this, the adoption of consumer-friendly design that appeals aesthetically is anticipated to bode well for the growth of the global market in the forthcoming years.

SEGMENTATION:

Residential Segment to Hold Major Market Share

The residential segment, based on application, is expected to showcase significant growth owing to the increasing demand for lumber-based wood flooring products for the residential projects across the globe.

Information source: https://www.fortunebusinessinsights.com/wood-flooring-market-104011

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.