Global Wood Flooring Manufacturing Market: Overview
The global wood flooring manufacturing market is seeing a steady upswing currently on account of the increased preference for wood flooring due to its durability and restorability. The market can be segmented into solid, acrylic impregnated, and engineered wood. Bamboo flooring also falls under the ambit of wood flooring. Wood flooring comes in different shapes such as parquet, strips, and planks. Raw materials used in wood flooring include birch, oak, walnut, ash, maple, birch, beech, etc. Among them, oak is the most popular due to its strength, lesser cost, appearance, and wide availability. In fact, red oak accounts for about a majority of wood flooring sales.
In the report, Transparency Market Research provides a detailed analysis of the global wood flooring market by segmenting it based on various parameters and presenting an in-depth analysis of each segment. It studies the various growth drivers and restraints in the market, besides evaluating the prevailing trends. The report also includes sagacious inputs from experts in the industry.
A detailed assessment of the current vendor landscape is presented in the report. It not only profiles the prominent players operating in the market, but also brings to the fore their strengths and weaknesses. Using industry-leading analytical tools, the report gauges the threats and opportunities that these companies may face over the course of the forecast period between 2016 and 2024.
Global Wood Flooring Manufacturing Market: Drivers and Trends
Driving the demand in the global wood flooring manufacturing market is the increasing housing construction and remodeling activities. With the rapid pace of urbanization worldwide, the housing industry has received a major fillip. There has been a continued uptick in activity in the commercial real estate and building remodeling and renovation works. This has majorly contributed to the market along with increasing purchasing power of discerning consumers, who are increasingly opting for green buildings. The rising popularity of pre-finished products and manufactured floors has also driven demand in the market. Additionally, wood products are being increasingly recycled. This is another cause for the soaring popularity of wooden floors.
Countering the growth in the market are unstable prices of wood and other raw materials, strict regulatory norms, and rising cost of production. Another crucial market restraint is the growing thrust on environment which has led to strict policies against rampant deforestation. Further, stiff competition from substitutes such as ceramic tiles, carpet, and vinyl is also thwarting the growth in the market.
A trend noticed in the manufacturing process is the increased thrust on automating processes to boost efficiency and improve safety. Although labor is used in the industry to craft products, operators are increasingly investing in enhanced technologies to cut down on manufacturing costs.
Global Wood Flooring Manufacturing Market: Geographical Outlook
Geography-wise, the global wood flooring market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World. Among them, North America and Europe are leading markets. This is mainly on account of the cold climate prevailing in most of the countries in the two continents which results in increased demand for wooden floors that helps in maintaining warmth. Asia Pacific is expected to be a significant contributor to this market too on account of the changing lifestyles in the region. Robust construction activities in emerging economies of the world such as Brazil, India, and China is slated to further propel the market in the near future.
Key Players Mentioned in the Report
To present an in-depth assessment of the competition prevailing in the global market for wood flooring manufacturing Wood Flooring International, Mohawk Industries, A&W Woods, Tembec, Tarkett, and Armstrong World Industries.
Major geographies analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World (RoW)
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.