Wood Flooring Market To Reach $ 41,682.2 Million By 2027

Pune, India, November 23, 2021 (GLOBE NEWSWIRE) – According to research conducted by Fortune Business Insights ™, the Global parquet market The growth is expected to show considerable growth to reach $ 41,682.2 million by 2027. This is due to growing government support to promote wood products for construction activities and the growing demand for user-friendly building designs that are driving the demand for advanced solutions globally. The report mentions that the market was worth $ 33,279.5 million in 2019 and is expected to grow at a CAGR of 3.6% between 2020 and 2027.

Wood parquet is a type of flooring that uses wood to meet consumer demand for aesthetics, comfort and appearance when constructing buildings or residential spaces. The growing demand for sustainability in the construction industry when designing buildings is propelling the adoption of hardwood floors across the world.

The following companies are present in the wood flooring market:

  • Mohawk Industries, Inc. (United States)
  • Armstrong Flooring, Inc. (US)
  • Shaw Industries Group, Inc. (US)
  • LL Flooring (United States)
  • Junckers Industrier A / S (Denmark)
  • British Hardwood (UK)
  • Connor Sports (United States)
  • Tarkett SA (France)
  • Boral (Australia)
  • Daiken Corporation (Japan)
  • Kährs Holding AB (Sweden)
  • Barlinek SA (Poland)

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What does the report include?

The market report comprises a detailed assessment of the various drivers and restraints, opportunities and challenges that the market will face over the projected horizon. Further, the report provides comprehensive information on the regional developments of the market affecting its growth during the forecast period. It includes information sourced from expert industry professional advice by our research analysts using multiple research methodologies. The competitive landscape offers more detailed information on strategies such as product launches, partnerships, mergers and acquisitions and collaborations adopted by companies to maintain their position in the market between 2020 and 2027.

DRIVING FACTORS

Increase government support to promote wood products in the face of growing demand

The massive adoption of construction products such as gravel, cement, steel and plastic cause environmental stress. The growing demand for the adoption of sustainable products is pushing the government to promote wood products that are natural and easily broken down. This is expected to drive the demand for advanced wood flooring solutions across the world. In addition to this, the adoption of user-friendly and aesthetic design should bode well for the growth of the global market in the years to come.

SEGMENTATION:

The residential segment will hold a significant market share

The application-based residential segment is expected to show significant growth due to the increasing demand for wood-based wood flooring products for residential projects across the world.

REGIONAL OVERVIEW

Government policies favorable to the promotion of wood products in Asia-Pacific to promote growth

Among all regions, Asia-Pacific amounted to USD 19,665.1 million in 2019 and is expected to hold the largest share of the global wood flooring market by revenue in the coming years. . This is due to favorable government policies that promote the adoption of wood as a raw material in the construction industry in the region.

The European market is expected to experience significant growth, supported by the growing desire of companies to develop heat-compatible wood flooring products in the region between 2020 and 2027.

Browse the detailed summary of the research report with the table of contents:

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

COMPETITIVE LANDSCAPE:

Key players focus on partnerships to expand their product portfolio

The global wood flooring market size is fragmented by the presence of large companies that focus on forming partnerships to expand their wood flooring portfolio and gain a competitive advantage over their rivals. The other key players are adopting strategies such as collaboration, new product introduction, and mergers and acquisitions which will contribute to the growth of the market in the years to come.

Main Table of Contents:

  • introduction
    • Scope of research
    • Market segmentation
    • Research methodology
    • Definitions and assumptions
  • Abstract
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
  • Key ideas
    • Main emerging trends – for the main countries
    • Key developments: Mergers, Acquisitions, Partnerships, etc.
    • Latest technological advances
    • Overview of the regulatory scenario
    • Porters Five Forces Analysis
  • Qualitative analyzes on the impact of COVID-19 on the global wood flooring market
    • Supply chain analysis and challenges due to Covid-19
    • Measures taken by government / companies to overcome this impact
    • Potential challenges and opportunities due to the COVID-19 epidemic

COT continues…!

Key industry development:

January 2020 – Junckers Industrier A / S has announced its association with Turkish Airlines EuroLeague Final Four by becoming its official partner. The company informs that, in accordance with the partnership, it will provide A3 Premium portable sports wood flooring which is produced using beech wood and has received FIBA ​​Level 1 approval.

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