Installing a hardwood floor can be daunting these days. There has been a rising trend for the wooden engineered flooring. The engineered wood floors not only enhance the appealing beauty but also is a new way of making life sustainable. Woodworks tend to add lesser to the pollution and hence are becoming popular as green construction tools. Flooring can be done with the help of tiles, laminates, wooden planks, cement, marbles, etc. but these days, people are being noticed to have an ingrown love for wood floors. Wooden floors, besides projecting an elegant look to the house, also help in keeping down the temperature.
Rising Trend in Demand for Wooden Flooring in the US Market
Multiple factors, such as the elegant appearance and ease of maintenance, are guiding the demand for wooden engineered flooring or laminate flooring for the home. Thanks to the technological advancements in the fields of designing and printing that have made laminated floors look more realistic and sophisticated. It has resulted in gaining popularity amongst the consumers across the U.S. It has also been reported that there has been a sharp increase in the preferences for the engineered oak flooring. Furthermore, this gradual trend is perpetual since 2014.
The global market size for wooden and laminate flooring has been recorded at a value of USD 63.01 billion in 2018 and is expected to grow further at a CAGR of 5.3% over the forecast period till 2025. The environmental profile, the durability of engineered flooring, physiognomies of wood and laminate flooring, etc. are the expectant criteria to drive the demand in the US. To replicate the exact texture and look levied by the natural solid timber floors, the current U.S. demand is anticipated to witness such growth for laminates and engineered wood floors.
Demand for engineered wood has been on the increase because of several other benefits it offers, such as its make up a pattern which is made of thin layers of wood sandwiched with adhesives. It can very easily withstand high temperatures and humidity as compared with solid wood flooring. The use of a thin veneer of real wood or bamboo over the basic plywood can make it a cost-effective choice. A properly installed and a high quality engineered wood flooring can be considered a better alternative durable as solid wood.
The supply side of engineered floors
The U.S. supply market is a combination of homebound suppliers as well as the export partners. In 2019 around 42 % of suppliers accounted for foreign-based manufacturers. Around one-third of demand is getting fulfilled by the laminates produced across the globe.
The Bottom Line
From 2004 onwards, there has been an increase in the purchase of engineered oak flooring over the natural timber. Companies doing their business in wooden and laminate flooring can surely tap this opportunity and explore international export. Till 2025, this trend of supply and demand cycle has been projected to keep up at the same rate.