U.S. Wood Flooring Market Size, Share & Trends Analysis Report By Product (Solid Wood, Engineered Wood), By End-use (Replacement, New Construction), By Wood Type, By Application, And Segment Forecasts, 2023 - 2030

Report Overview

The U.S. wood flooring market size was estimated at USD 5.96 billion in 2022 and is anticipated to register a compound annual growth rate (CAGR) of 2.1% from 2023 to 2030. The growth of the market in the country can be attributed to the surging demand for highly durable and aesthetically appealing flooring. Moreover, rising expenditure on renovating and remodeling old housing structures in the U.S. is expected to have a significant impact on the growth of the product in the country in the coming years.

The market is further expected to witness significant growth from 2023 to 2030 owing to the flourishing construction industry in the country which is anticipated to fuel the demand for the product. The construction industry in the country is growing due to a rise in public and private investments in infrastructure development activities. According to the U.S. Census Bureau, the construction spending in the country in February 2023 was at a seasonally adjusted annual rate (SAAR) of USD 1,844.1 billion, witnessing an increase of 5.2% compared with SAAR of USD 1,753.1 billion recorded in February 2022. This rate is further expected to surge in the coming years due to increased construction, thereby driving the demand for floor coverings in the U.S. from 2023 to 2030.

The value chain of the market includes raw material suppliers, product manufacturers, distributors/installers, and end-users. The value chain varies in the country based on product formation and process. Moreover, the use of various raw materials for developing flooring, coupled with varying costs of hardwood lumber used for producing different product types, is expected to influence the entire value chain in terms of the cost involved.

Wood flooring has an extended lifespan. It has low maintenance requirements when installed on a well-prepared base. In addition, it can be easily sanded and repaired to preserve its finish and looks. A well-maintained wooden flooring can exhibit an approximate working lifecycle of 40-plus years with minimal maintenance. This makes it highly durable for use in residential and non-residential applications.

The market is characterized by the presence of numerous established regional players, who control the larger market share. Consumers prefer manufacturers with a robust reputation in the industry, thereby making it challenging for the new entrants to widen their customer base. Moreover, the high initial cost required to establish the business is expected to discourage the entry of new players. Thus, the threat of new entrants in the market is expected to be low over the forecast period.

Product Insights

In terms of product, the engineered wood segment dominated the market with a revenue share of 52.9% in 2022. Over the years, engineered wood flooring has emerged as a comparatively low-cost alternative to solid wood flooring. This is because engineered wood is relatively less susceptible to moisture and temperature changes. Moreover, engineered wood floor coverings can be installed on any type of subfloor available in the form of concrete slabs, radiant heating systems, etc. using various installation methods including nailing, stapling, gluing, or floating. It reduces the installation time of this flooring. This is expected to surge the usage of engineered wood flooring in projects with time constraints.

The solid wood segment is anticipated to grow at the fastest CAGR of 2.6% over the forecast period. High durability and easy installation are the characteristic attributes of solid wood flooring. This flooring has a narrow plank size with a few seams between boards of wood. Solid wood flooring is highly preferred in residential and commercial applications in the U.S. owing to its durability and longevity. Moreover, this flooring can be developed from a wide variety of dent- and scratch-resistant wood.

In addition, solid wood flooring is stain-free and can be polished. This flooring can be sanded and re-finished multiple times over its lifetime, owing to its top-to-bottom solid core. Hardwood flooring provides a solid feel while walking as it is permanently installed by nailing it to subfloors. Solid wood flooring is highly durable and low maintenance. However, susceptibility to expansion owing to moisture is one of the major drawbacks associated with solid wood flooring.

Wood Type Insights

In terms of wood type, the red oak segment is expected to grow at the fastest CAGR of 2.1% over the forecast period. Red oak or the Quercus rubra is a hardwood tree species native to the U.S. that can grow up to 5–6 meters in 10 years under optimal conditions and full sun. It is economically one of the most important timber species grown in North America. Red oak is widely used in the production of lumber and veneer used for developing flooring and furniture.

Red oak flooring is not preferred for use in kitchens and bathrooms owing to its susceptibility to movement under varying moisture conditions. However, this product is more porous than white oak flooring which makes the former stain well. As such, red oak wood can be used for developing bleached flooring. Thus, red oak wood flooring is highly preferred in households with pets and children.

The white oak segment held a revenue share of 29.8% in 2022. White oak wood is highly durable with a Janka value of 1360. It is widely used in the construction industry as structural timber owing to its low stiffness and overall good strength. Moreover, this wood is also utilized in shipbuilding & boat building, architectural joinery, exterior joinery, flooring, and railway sleeper manufacturing applications.

White oak or Quercus alba is among the most used hardwood timber species in the U.S. that is native to Eastern and Central North America. The name of this species comes from the color of the finished wood obtained from it. Moreover, it is mostly straight-grained and exhibits a medium to coarse texture with longer rays than red oak.

Application Insights

In terms of application, the residential segment dominated the market in 2022 with a revenue share of 77.0% and it is further expected to grow at the fastest CAGR of 2.2% over the forecast period. The growing rate of domestic and international migration and the ongoing urbanization are expected to drive the demand for residential buildings in the U.S. in the coming years. It is anticipated that it will lead to increased construction of residential buildings, thereby resulting in a rise in demand for wooden floor coverings used in these buildings in the country over the forecast period.

In addition, the rising number of single-family houses in the U.S. owing to the high disposable income of consumers is further projected to drive the demand for wood flooring in the residential segment. Engineered wood flooring is increasingly replacing traditional solid wood in residential buildings owing to its cost-effectiveness, ease of installation, and superior moisture resistance.

The commercial segment of the market in the U.S. includes commercial buildings, hotels, restaurants, cafes, retail stores, offices, gymnasiums, basketball courts, hospitals, etc. Wood flooring is widely used in commercial applications owing to its long lifecycle. Growing demand for sustainable building materials for use in commercial construction activities in the U.S. is expected to surge the demand for the product from 2023 to 2030.

Rising preference for wood flooring by designers and architects owing to its warm and aesthetic looks is further expected to lead to the large-scale adoption of wood flooring in commercial applications in the country over the forecast period. The expansion of modern offices & workspaces and the large-scale renovation of commercial spaces in the U.S. are expected to propel the growth of this segment from 2023 to 2030.

End-use Insights

In terms of end-use, the new construction segment is projected to grow at a CAGR of 1.8% from 2023 to 2030. The growth of this segment of the market can be attributed to the increasing construction activities related to new residential units and commercial spaces in the country.

According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, the country had approximately 1,342,000 building permits, along with 1,427,000 housing projects that are ongoing, and approximately 1,490,000 housing projects that are nearing completion as of 2022. The increasing construction activities for developing new residential projects in the country are fueling the growth of the new construction segment of the market.

The replacement segment dominated the market in 2022 with a revenue share of 53.5%, and it is further expected to grow at the fastest CAGR of 2.3% over the forecast period.Wood flooring is highly durable and can last for a longer period than other types of floor coverings without losing its original quality. In addition, wood flooring can be refinished when dented or scratched.

These factors are leading to the large-scale adoption of wood flooring, which is replacing other floors such as LVT (luxury vinyl tiles) and terrazzo in existing buildings. In addition, continued investments in the repair and renovation of existing housing structures in the U.S. are driving the growth of the replacement segment.

Key Companies & Market Share Insights

The key players operating in the market include Mohawk Industries, Inc.; EGGER Group; Goodfellow, Inc.; Flooring Innovations; Somerset Hardwood Flooring, Inc.; Shaw Industries Group, Inc.; and Mannington Mills, Inc.

The market is characterized as highly competitive due to the presence of both, regional and multinational players in it. The key players in this market are investing in improving the quality of their products and enhancing their manufacturing capacity. They are also carrying out regional expansions to strengthen their presence in the market. For instance, in January 2023, the company launched its new e-commerce website for its flooring and installation product portfolio in the North America region. The website is expected to help the company offer enhanced customer experience, grow its customer base across the region, and improve its visibility in the world. Some prominent players in the U.S. wood flooring market include:

• Mohawk Industries, Inc.

• EGGER Group

• Goodfellow, Inc.

• Flooring Innovations

• Somerset Hardwood Flooring, Inc.

• Shaw Industries Group, Inc.

• Mannington Mills, Inc.

• Home Legend, LLC

• Provenza Floors, Inc.

• DuChateau

U.S. Wood Flooring Market Report Scope

U.S. Wood Flooring Market Report Segmentation

This report forecasts revenue & volume growth at a country level and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the U.S. wood flooring market report based on product, wood type, application, and end-use:

• Product Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)

  • Solid Wood

  • Engineered Wood

• Wood Type Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)

  • Red Oak

  • White Oak

  • Maple

  • Others

• Application Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)

  • Residential

  • Commercial

• End-use Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)

  • New Construction

  • Replacement