US Wood Flooring Market Overview
The US Wood Flooring Market Size is expected to reach USD 11.54 Billion by 2033. The US Wood Flooring Market industry size accounted for USD 7.24 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 2.47% from 2023 to 2033. The US Wood Flooring Market refers to the industry sector that focuses on the production, distribution, and sale of wood flooring products within the United States. This market includes a wide range of wood flooring types such as solid wood, engineered wood, and laminate flooring.
The US Wood Flooring Market is competitive, with numerous players ranging from large multinational companies to small local manufacturers. It is influenced by factors such as economic conditions, housing market trends, and consumer preferences.
US Wood Flooring Market Synopsis
COVID-19 Impact Analysis
The COVID-19 pandemic had a significant impact on the US Wood Flooring Market. Lockdowns and restrictions in key wood-producing regions led to shortages in raw materials. Transportation delays and increased shipping costs disrupted the supply chain, affecting the timely delivery of products. Temporary shutdowns of manufacturing facilities due to health and safety regulations resulted in decreased production capacity. Early in the pandemic, the uncertainty and economic slowdown led to a decline in new construction and renovation projects, reducing demand for wood flooring. As people spent more time at home and focused on home improvement projects, there was a resurgence in demand for wood flooring, especially in the residential sector. With physical stores closed or operating at reduced capacity, consumers and businesses turned to online platforms for purchasing wood flooring products. Increased awareness of hygiene led to a preference for easy-to-clean and low-maintenance flooring options, benefiting certain wood flooring products. The wood flooring market adapted by enhancing digital presence, improving e-commerce capabilities, and focusing on customer engagement through virtual means.
US Wood Flooring Market Dynamics
The major factors that have impacted the growth of US Wood Flooring Market are as follows:
Drivers:
Ø Home Renovation and Remodeling Trends
Rising interest in home renovation and remodeling projects drives demand for wood flooring as homeowners seek to upgrade and enhance their living spaces. Growth in do-it-yourself (DIY) home improvement projects contributes to the market, with many consumers opting to install wood flooring themselves. Growing awareness of environmental issues and sustainability drives demand for wood flooring made from responsibly sourced and certified sustainable materials. Innovations in wood flooring manufacturing improve product durability, ease of installation, and resistance to moisture and wear. Development of engineered wood flooring and advanced finishes offers greater stability, versatility, and aesthetic appeal.
Restraint:
- Perception of High Cost and Maintenance Requirements
Wood flooring, especially high-quality solid and engineered wood options, tends to be more expensive than alternatives like laminate, vinyl, or carpet, making it less accessible for budget-conscious consumers. Professional installation of wood flooring can be costly, further adding to the overall expense. Wood flooring requires regular maintenance, such as cleaning, polishing, and occasional refinishing, which can be time-consuming and costly. Wood flooring is prone to scratches, dents, and water damage, requiring careful maintenance to preserve its appearance and longevity.
Opportunity:
⮚    Sustainability and Eco-Friendly Products
Increasing demand for sustainable construction materials provides an opportunity for wood flooring manufacturers to promote eco-friendly products. Certifications such as FSC (Forest Stewardship Council) and PEFC (Programme for the Endorsement of Forest Certification) can attract environmentally conscious consumers. Using reclaimed or recycled wood for flooring appeals to sustainability-focused buyers and reduces environmental impact. Expanding e-commerce platforms and enhancing online presence can reach a broader audience. Virtual showrooms, augmented reality (AR) apps, and online consultation services can enhance the buying experience. Developing direct-to-consumer sales models can reduce costs and improve margins by bypassing traditional retail channels.
US Wood Flooring Market Segment Overview
By Product Type
Based on Product Type, the market is segmented based on Solid Wood and Engineered Wood. The engineered wood segment dominant the market. Engineered wood is less susceptible to swelling and contracting as a result of changes in humidity and temperature. Additionally, it is within the price range for a sizable residential customer base and adds visual appeal wherever it is installed. The decking and cladding industries frequently employ engineered wood because it offers advanced and improved abrasion resistance, dimensional precision, and reliability attributes.
By Material
Based on Material, the market segment has been divided into the Resilient flooring and Non-resilient flooring. The Resilient flooring segment dominant the market. Resilient flooring is known for its high durability and resistance to wear and tear, making it suitable for high-traffic areas. Resilient flooring tends to be more cost-effective compared to traditional wood flooring, making it accessible to a wider range of consumers.
By Application
Based on Application, the market segment has been divided into the Residential and Non-residential. The Residential segment dominant the market. The Dominance of the segment is due to the provision of the natural feeling of home. The Development of radiant heat-compatible grades has increased the residential segment’s adoption of lumber-based flooring products.
Competitive Landscape
The US Wood Flooring Market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.
Prominent Players:
- Armstrong
- Pergo
- Berkshire Hathaway
- Shaw Industries Group Inc.
- Brumark Corporation
- E.P. Co. Inc.
- Mannington Mills
- Mohawk Industries
- Wickes Ltd
- Home Legend LLC
Key Development
In May 2022, Somerset Hardwood Flooring, a vertically integrated forest products business with headquarters in Somerset, Kentucky, was purchased by Swiss-based Bauwerk Group AG. According to estimates, the acquisition will help Bauwerk Group AG strengthen its position in the North American flooring market and increase its image. With a solid presence in the necessary sales channels, Somerset Hardwood Flooring has a well-established brand and market position in the United States.
Scope of the Report
US Wood Flooring Market, by Product Type
- Solid Wood
- Engineered Wood
US Wood Flooring Market, by Material
- Resilient flooring
- Non-resilient flooring
US Wood Flooring Market, by Application
- Residential
- Non-residential
Global US Wood Flooring Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Nordic
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Austalia
- Malaysia
- India
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of Middle East & Africa
| Parameters | Indicators |
|---|---|
| Market Size | 2033: USD 11.54 Billion |
| CAGR (2023-2033) | 2.47% |
| Base year | 2022 |
| Forecast Period | 2023-2033 |
| Historical Data | 2021 (2017 to 2020 On Demand) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Segmentations | Product Type, Material, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, South America, Middle East, Africa |
| Key Vendors | Armstrong, Pergo, Berkshire Hathaway, Shaw Industries Group Inc., Brumark Corporation, E.P. Co. Inc., Mannington Mills, Mohawk Industries, Wickes Ltd and Home Legend LLC. |
| Key Market Opportunities | ·      Sustainability and Eco-Friendly Products
·      E-Commerce Growth |
| Key Market Drivers | ·      Home Renovation and Remodeling Trends
·      Technological Advancements |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future US Wood Flooring Market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- US Wood Flooring Market historical market size for the year 2021, and forecast from 2023 to 2033
- US Wood Flooring Market share analysis at each product level
- Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global US Wood Flooring Market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
