US Hardwood Flooring Market 2024–2033

Reports Description

The CMI Team’s most recent market research predicts that from 2024 to 2033, the US Hardwood Flooring Market will experience a CAGR of 5.1%. In 2024, the market size is projected to reach a valuation of USD 19,182.4 Million. By 2033, the valuation is anticipated to reach USD 30,014.3 Million.

The US hardwood flooring market is one of the leading players in the overall flooring industry, mainly because it produces, distributes, and sells both solid and engineered hardwood. Hardwood floors are generally demanded for their aesthetic appeal, and their durability characteristics make them popular among both residential and commercial consumers.

Sustainability, technological progress, and increased home renovation activities determine the market. The leading players also innovate in their products to cater to these consumer needs. Armstrong Flooring and Mohawk Industries are examples of that. An increase in disposable income and urbanization, along with people’s interest in eco-friendly materials, fuels demand, especially for luxury housing.

Hardwood flooring achieves high-end premiums due to its long-term value, aesthetic appeal, and potential to reflect a personal style in design. This customization and the high demand for quality home improvements feed the market as clients look for flooring options that match their personal taste and sustainable living.

US Hardwood Flooring Market – Significant Growth Factors

The US Hardwood Flooring Market presents significant growth opportunities due to several factors:

• Rising Home Renovations: The growing interest of individuals in renovation projects has led to the popularity of hardwood flooring for its durability and aesthetic appeal. The wide existence of home makeover shows and social media features elicited a feeling of optimism and inspired homeowners to invest in quality floors.

• Growing Residential Construction: The growth of residential construction activities due to urbanization and population has sparked the demand for hardwood flooring. With the construction of a new house, several builders now install hardwood floors in the home to gain value and desirability in the marketplace for a prospective seller.

• Durability and Longevity: Engineered hardwood has provided a more durable and easier-to-maintain hardwood floor. It provides better scratch, moisture, and wear resistance, making hardwood flooring all that much more practical for different lifestyles.

• Market Expansion through E-Commerce: The e-commerce environment has made it more accessible for consumers to appreciate the wonderful nature of hardwood flooring. Customers can easily compare their products, prices, and styles, thereby driving sales while expanding market reach for hardwood flooring brands.

US Hardwood Flooring Market – Key Developments

The US Hardwood Flooring Market has seen several key developments in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the US Hardwood Flooring Market include:

• In 2023, The CLASSEN Group showcased four innovative products at BAU 2023, including Uberwood®, a next-generation flooring solution that integrates sound-absorbing properties, eliminating the necessity for additional underlays. This advancement underscores CLASSEN’s commitment to innovation in laminate flooring and PVC-free wall and floor coverings.

• In 2022, AHF Products finalized the acquisition of selected assets from Armstrong Flooring, Inc. This move bolsters AHF Products’ position in resilient flooring, enhancing its ability to offer a comprehensive range of commercial and residential solutions, including hardwood, resilient, and laminate products.

These key developments have helped companies expand their product offerings, improve their market presence, and capitalize on US Hardwood Flooring Market growth opportunities. The trend is expected to continue as companies seek a competitive edge.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

US Hardwood Flooring Market – Significant Threats

The US Hardwood Flooring Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Supply Chain Disruptions: Global supply chain disruptions, characterized by a lack of raw material availability and delayed transport, can negatively affect production and, by extension, increase the cost for manufacturers and distributors. In particular, the consequence could be longer delivery times and inventory shortages that take a toll on customer satisfaction and competitive advantage.

• Competition from Alternative Flooring Materials: Alternative Flooring Materials Competition is stiff with alternatives such as laminate, vinyl, and tile. They are initially more affordable, easy to install, and even simulate natural hardwood. Budget-conscious consumers and those who want versatility for different spaces in their building tend to be fond of these choices.

• Environmental Regulations and Sustainability Concerns: Forestry methods are now more strictly regulated than ever, and most manufacturers require sustainability certifications. Owing to the increasing demand for eco-friendly products, manufacturers who are not environmentally compliant will be in danger of damaging their reputation and market share.

• Fluctuating Raw Material Costs: Timber, like all other raw materials used in the hardwood flooring production process, may change in cost, which could affect profitability and, consequently, a business’s pricing methodology. Manufacturers often face cost pressures from fluctuating lumber prices, tariffs on imported products, and currency exchange rates, thereby making their businesses less competitive than others.

• Economic recession or instability in housing: An economic slowdown or fluctuations in the housing market may lead to reduced consumer spending on home renovation and construction. This decreases the demand for hardwood flooring directly, and therefore, businesses have to be cautious while treading through an economically changing environment.

Category-Wise Insights

By Wood Type:

• Solid Hardwood: Solid hardwood flooring is made from a single piece of wood and can be sanded and refinished many times, making it long-lasting and providing a natural aesthetic. In the US market, solid hardwood remains popular because of its durability and capacity to add value to homes. Current trends include a preference for wider plank sizes and finishes highlighting the natural grain. Sustainability concerns about sourcing will drive demand for responsibly sourced solid hardwood options.

• Engineered Hardwood: Engineered hardwood floors are made of several layers of wood veneers piled and bonded together under heat and pressure. This construction gives more stability and greater resistance to moisture than regular hardwood flooring. Trends in the US range from advances in surface treatments that might provide better durability and aesthetics to the latest installation innovations, such as click-lock systems, that work well for the DIY homeowner and the professional tradesperson.

By Product Type

• Strip flooring is characterized by its traditional appeal and consists of narrow, linear planks that are typically less than 3 inches wide. Currently, in the US, wider strips and varied wood species are trending toward a modern design while retaining the classic charm of hardwood strip flooring.

• Plank Flooring: Plank flooring has wider boards, either 3 inches or wider, with an exceptionally rustic and open appearance. The demand for engineered plank flooring in the US market is growing rapidly since it provides added stability and is moisture resistant, making it great for wider applications, such as kitchens and basements.

• Parquet Flooring: Parquet flooring has geometric patterns made with small pieces of wood. In the US, parquet flooring is becoming popular once again because of its unique visual appearance and versatility in creating intricate designs that can harmonize with very traditional and modern interiors alike. Modern interpretations of classic patterns and exotic wood species give an upscale feel.

• Others: The “others” category in the US hardwood flooring market encompasses less common formats, including herringbone, chevron, and custom designs. Those styles sell into niche markets and design-oriented customers looking for distinctive, one-of-a-kind flooring options that express personal style and architectural preferences. Increasing trends will include increasing opportunities for personalization through digital design technologies and growing efforts in sustainability by using reclaimed or repurposed material in products.

By Application

• Residential: Residential is the installation of hardwood floors in homes and apartments. It is a market with high demand for hard-wearing and aesthetically pleasing hardwood. Demand is driving wider planks and matte finishes, which are more reflective of current interior designs. It is also concerned with sustainability issues, promoting the demand for environmentally friendly hardwood products certified by entities such as the FSC.

• Commercial: The commercial segment includes the installation of hardwood floors in offices, retail environments, hotels, and other commercial buildings. Commercial businesses aim at flooring options that provide durability, easy maintenance, and aesthetic appeal to create successful and inviting spaces for both customers and staff. The emerging trends include a focus on engineered hardwoods because of their stability and sustainability in high-traffic environments and design applications for branding and customer experience purposes.

By End Use

• New Construction: Hardwood flooring refers to installations in newly built residential and commercial properties. This line focuses on the use of long-lasting yet attractive hardwood options in modern architectural designs that reflect consumers’ and end-users preferences for quality materials that add value to the property and appeal to potential buyers.

• Renovation: Hardwood flooring, within the renovation sector, offers the ability to replace or upgrade older floors in residential houses and commercial buildings. The demand in this segment is for sustainable and low-maintenance hardwood products that are durable and enduring in beauty. Often associated with the selection of engineered hardwood and environmental-friendly options for today’s consumer looking to improve their habitat without harming the environment.

Report Scope

Competitive Landscape: US Hardwood Flooring Market

The US Hardwood Flooring Market is highly competitive, with many manufacturers and retailers operating in the US. Some of the key players in the market include:

• Armstrong Flooring Inc.
• Mohawk Industries Inc.
• Shaw Industries Group Inc.
• Tarkett North America
• Bruce Hardwood Flooring (A subsidiary of AHF Products)
• Mannington Mills Inc.
• Pergo (a subsidiary of Mohawk Industries)
• Anderson Tuftex (a brand of Shaw Industries)
• Kährs Group
• Mullican Flooring
• Somerset Hardwood Flooring
• HomerWood Hardwood Flooring
• Weyerhaeuser Company
• Lauzon Distinctive Hardwood Flooring
• DuChâteau
• Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New players entering the US hardwood flooring market focus on innovation and development to differentiate themselves. These companies often introduce advanced manufacturing techniques, sustainable practices, and innovative product designs to attract consumers seeking modern, eco-friendly flooring solutions.

Key players dominating the market, such as Mohawk Industries and Armstrong Flooring, leverage extensive distribution networks, established brand reputation, and diversified product portfolios. They maintain market leadership through continuous product innovation, strategic acquisitions, and strong customer relationships, enabling them to effectively navigate market challenges and capitalize on emerging trends in the industry.

The US Hardwood Flooring Market is segmented as follows:

By Wood Type

• Solid Hardwood
• Engineered Hardwood

By Product Type

• Strip Flooring
• Plank Flooring
• Parquet Flooring
• Others

By Application

• Residential
• Commercial

By End-Use

• New Construction
• Renovation