Published on : Dec 27, 2016
Buoyed by the rising preference for wood flooring on account of its durability and restorability, the global wood flooring manufacturing market has witnessed steady progress so far. Various types of wood such as walnut, beech, maple, birch, oak, and ash, among others, are used is crafting wood flooring that comes in different shapes such as parquet, strips, and planks. Oak, among them, is most sought after because of its strength, appearance, and abundant availability. Inexpensiveness is another factor boosting its demand.
Rapid Urbanization Propels Demand
The swift pace of urbanization worldwide has fuelled massive uptick in housing construction and remodeling activities. This has been the single-most important growth driver in the global wood flooring manufacturing market. Further, the rising ranks of discerning consumer with greater capacity to spend are also driving demand in the market. Such consumers mostly opt for green buildings and pre-finished products, a trend that has proven conducive for the industry. The growing thrust on recycling wood products has substantially filliped the global market for wood flooring manufacturing, as well.
Curbs against Deforestation Hinders Market
Hindering the growth in the market are wobbly prices of wood and other raw materials and the rising cost of production. Another factor restraining the market is the increasing clamor for environment protection, which has led to framing of strict policies against felling of trees. Further, substitutes such as ceramic tiles, carpet, and vinyl are also providing stiff competition to wood flooring.
Asia Pacific Poised to Grow due to Changes in Lifestyle
North America and Europe are dominant markets for the wood flooring industry. The primary reason behind their market growth has been the low temperatures in majority of the places in the two continents. Hence, wooden floors that aid in retaining warmth, have seen a solid demand in the two continents. Asia Pacific is also slated to exhibit stellar growth in the coming years on the back of improved lifestyle brought about by rising disposable incomes. Supercharged construction activities in countries such as Russia, Brazil, India, and China will continue to contribute to the global market for wood flooring manufacturing.