In the changed post COVID-19 business landscape, the global market for Wood Flooring estimated at US$46.6 Billion in the year 2022, is projected to reach a revised size of US$67.1 Billion by 2030, growing at a CAGR of 4.7% over the analysis period 2022-2030, as per the Wood Flooring: Global Strategic Business Report.
Engineered Wood, one of the segments analyzed in the report, is projected to record 5.1% CAGR and reach US$43.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Solid Wood segment is readjusted to a revised 3.9% CAGR for the next 8-year period.
The Wood Flooring market in the U.S. is estimated at US$6.8 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$13 Billion by the year 2030 trailing a CAGR of 7.1% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
