Wood Flooring Market to Reach a Valuation of ~ US$ 123 Bn by 2027: Transparency Market Research

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Wood Flooring Market Key Highlights

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2023

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Wood Flooring Market Key Highlights

• The global wood flooring market was valued at
   US 73.4 Bn in 2018, and is anticipated to
  expand at a CAGR of  6 during the forecast
  period.
• The global wood flooring market is driven by the
  rise in the demand for home in residential
  applications.
• Europe accounts for a prominent share of the
  global wood flooring market, led by an increase
  in the demand for residential housing in the
  region, which is supported by government schemes. 

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Residential Sector to Offer Attractive
Opportunities

• In terms of demand, the residential segment
  dominated the global wood flooring market.
• This trend is likely to continue during the
  forecast period too. Wood flooring is largely
  used in the residential sector to enhance
  aesthetic appeal. Wood flooring offers a rich
  look to the home interiors.
• Wood flooring is made from organic material. It
  is non-electromagnetic in nature therefore, it
  attracts less dust.
• Hence, wood flooring is widely used in
  residences for the safety of infants and
  children, and can last a lifetime.

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Risk of Substitution Coupled with Potential
Health Hazards to Hamper Market

• The availability of various substitutes such as
  ceramic tiles, carpets and rugs, laminates, and
  cork flooring for wood flooring products is
  expected to act as a major restraining factor for
  the global wood flooring market during the
  forecast period.
• Substitutes for wood flooring include
• Luxury Vinyl Plank Flooring Currently, this is
  one of the most innovative flooring products
  available in the marketplace. Luxury vinyl planks
  look and feel similar to real hardwood, but are
  waterproof. Hence, these are suitable for use in
  areas that have moisture areas, such as kitchens,
  basements, and powder rooms.

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Top Five Players Accounted for 50 Market Share
in 2018

• The top five players are
• Mohawk Industries, Inc.
• Shaw Industries Group, Inc.
• Tarkett Group, Kährs Holding AB (publ)
• Armstrong Flooring, Inc. 

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