Global Engineered Wooden Flooring market will reach 319.56 million sqm by the end of 2024

Publisher: QYResearch

Published Date: 2019/7/29

In the past five years, the Global Engineered Wooden Flooring Industry shows steady growth, driven by real estate property in China and the substitution of engineered wooded flooring to solid flooring in USA. Global market size grew from 215.52 million sqm in 2013 to 262.35 million sqm in 2018. By 2024, the market size is expected to reach 319.56 million sqm, with the CAGR of 3.34% from 2019 to 2024.

Global Engineered Wooden Flooring Industry is fragmented geographically, with leading brand in each region. In US, leading brands are Armstrong, Shaw, Mannington and Mohawk, while in Europe, mergers and acquisitions formed several big players, such as Bauwerk, and Kahrs. In China, market leaders are Shenxiang and Jinqiao.

Europe accounts for 21.58% of global demand in terms of volume in 2017. China is the largest production region, nearly half supplying the global market. However, as labor cost rises quickly, production base is transferring to other developing countries. The same thing happens in Europe, where manufacturing plants moving to east Europe countries.

Global market shows significant growth in the last five years, flooring market has witnessed continuously higher sales of engineered wooden flooring than solid wood flooring, which is expected to drive the global market in the next 5 years.

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