Market Data Sources: National Wood Flooring Assn. (NWFA), Hardwood Floors
( 8-17), Floor Trends, Ipsos, Statista, Catalina Research, Floor Covering Weekly (7-24-17),
Floor Focus ( 5-17) , U.S. Department of Commerce, Conlumino. Category: Flooring:
hardwood flooring, laminate/engineered flooring, plank, parquet
Overall, the wood and laminate flooring markets continue to
increase their share of the floor coverings market as residential and commercial buyers’ preference for these durable and
design-oriented products continues to grow. According to
Catalina Research, the hardwood flooring market rose 5.9%
in 2016, reaching $3.64 billion. Laminate flooring, which
faces greater competition from low-cost imports, showed
minimal gain last year, less than 1%, to reach $956 million.
Foreign competition, particularly from Asian countries, is
generally seen as the biggest threat to laminate flooring producers, although new EPA formaldehyde emission regulations, more
diligent monitoring of imported goods and continuing backlash
from the 2015
60 Minutes’ expose of falsely labeled CARB-com-pliant imported flooring could lessen it. Competition from non-wood floor coverings, government regulations, the economy and
U.S. political climate are also top concerns for 2018, according to
the National Wood Flooring Assn.’s 2018 Industry Outlook survey.
As a way to grow their business, NWFA says many companies are
diversifying and customizing, including features such as wider
and longer planks, distressing and rustic finishes.
Catalina’s survey also found domestic flooring manufacturers
are re-shoring production and investing in efficient manufacturing equipment to help improve profit margins.
Cork, rubber & other:
Source: Catalina Research
Source: Catalina Research, 2016 figures
Source: National Wood Flooring Assn. 2018 Outlook survey/Hardwood Floors
The global furniture and floor coverings market is projected to grow annual 5.3%,
reaching $695 billion by 2019, according to Conlumino. By then, China will
surpass the U.S. as the largest market, the research agency predicts.
Hardwood flooring imports hit $958.7 million in 2016, according to U.S. Department of Commerce figures. Exports were $77.8 million. Laminate flooring
imports were $568.4 million.
An Ipsos survey of U.S. households ($100,000+ income) found 13.5% spent
less than $500 on flooring, 6.5% spent $500-$1,000, and 5.4% spent more.
The $24.47 billion floor covering market
Overall, 2016 sales rose by 4.4% over 2015 dollars. Hardwood flooring rose
5.9%, while laminate flooring was up slightly, 0.6%.
Where’s it going?
How’s business? 2018 projections
$3.64 billion market
$956 million market
52.6% Residential new