While people find themselves replacing carpet every 5 years owing to holes, stains and shabbiness, wood flooring has turned out to be beneficial for its strength and durability. Further, end-users are increasingly embracing wood flooring for it adds value to the property, thereby becoming an exceptional long-term investment. The unparalleled aesthetic appeal of wood flooring has grabbed eyeballs both residential and commercial end-users. These insights are according to the intelligence report, titled, "Wood Flooring Market—Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2027," which has been freshly added to Market Research Hub’s (MRH) exponential repository.
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New Home Construction Gains Ground
Sustainability and eco-friendly has fueled the demand for wood flooring as the market is set to log growth rate of ~6% by 2027-end. Residential sector is anticipated to reign the market for wood flooring as there has been notable surge in the household formation and interest rates have remained comparatively low, thereby boosting new home construction.
Prevalence of Substitutes Dents Growth
Popularity of substitutes such as laminates and tiles and high upfront cost will likely dent the growth of wood flooring market. Nevertheless, wood-look tiles are increasingly being adopted in commercial and residential sector. As such, players such as Shaw Industries Group, Inc., Mohawk Industries, Inc., and Tarkett Group are expanding their portfolios to gain momentum in happy hunting grounds including Europe.
Europe Emerges as a Happy Hunting Ground
Robust development in construction sector in Europe has instilled confidence among players in wood flooring market. Similarly, dip in the interest rates for housing loans in China has fared well for the players looking to invest in wood flooring industry in Asia Pacific.
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Wood Flooring Market: Report Content
Quantitative and qualitative assessment exhort intelligence and overarching report on the wood flooring market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the wood flooring market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on wood flooring.
An insightful and deep-dive assessment of the competitive assessment of the wood flooring market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the wood flooring market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Wood Flooring Market: Research Methodology
Primary sources and secondary sources propel intelligence report on wood flooring market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst. Report on wood flooring market further acknowledges secondary sources—namely—Factiva, EC filing, press release, trade journals, resourceful database and governmental websites.
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