50% Surge in Residential Usage to Boost Wooden Floor Market Growth

Portland, Ore. -- According to a recent report, titled “Wooden Floor Market by Product and Application: Global Opportunity Analysis and Industry Forecast, 2018-2025,” by Allied Market Research, the global wooden floor market is forecast to reach $141.09 billion by 2025 from $90.63 billion in 2017, registering a compound annual growth rate (CAGR) of 5.9% over the forecasted period. Upsurge in home renovation owing to increased disposable income and faster growth construction and non-construction activities, especially in developing countries, fuel the growth of the wooden flooring industry. However, fluctuating prices of raw materials coupled with stringent regulations and increasing cost of wooden floorings acts as restraints for the market growth.

The report discusses various products, which have been categorized into engineered and solid wood. The engineered wooden floor segment contributed to two-third share of total revenue in 2017. This segment will continue its dominance in the global market by 2025, registering a surge of nearly 60% in terms of revenue over the forecast period. The solid wood segment is projected to account for nearly one-third share of the total market revenue by 2025.