Global Wood Flooring Market Analysis and Forecasts 2020-2024
Retrieved on:
Thursday, September 17, 2020
DUBLIN, Sept. 17, 2020 /PRNewswire/ -- The "Wood Flooring - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Key Points:
- DUBLIN, Sept. 17, 2020 /PRNewswire/ -- The "Wood Flooring - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
- The world market for Wood Flooring is projected to reach 16.2 billion square feet by 2024, driven by the steady global recovery in construction projects over the last couple of years in most countries worldwide; growing concerns over the environment and the ensuing preference for wood as a green building material given its lower carbon footprint and renewable characteristics when harvested through sustainable forest management practices.
- Asia-Pacific ranks as the fastest growing market with a projected CAGR of 5.9% over the analysis period, led by rapid urbanization and resulting housing and real estate development; preference for tropical wood flooring in rich, beautiful and luxurious designs; launch of affordable engineered wood flooring solutions; and expanding middle class and their changing attitude towards flooring decors.
- The region is famous for tropical wood growing in rainforests and moist broadleaf forests such as Mahogany, Teak, Ebony, Rosewood, Narra, and Chloroxylon also known as the East Indian Satinwood Lumber.