India Wood Flooring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

India Wood Flooring Market, which is one of the leading variants of the flooring market has suffered several setbacks during 2020 due to the sudden COVID-19 pandemic. However, the residential construction sector which is the key market for wood flooring has also been suffering due to the COVID-19 which in turn affecting the Wood Flooring market with revenue losses.

India wood flooring market is anticipated to register growth numbers during the forecast period owing to the rapidly expanding construction industry across India which ultimately rising the flooring opportunities. The government's efforts to encourage the tourism industry in the country are leading to the rise in the hospitality industry and the construction of hotels, premium stay in facilities like villas, resorts. The entertainment sector is also growing in India with rapid population growth and the ultimate urbanization and is encouraging the expansion of shopping malls, family entertainment centers, etc. The premium features offered by the wood flooring such as easy to install, long-lasting shine and durability, ultimate aesthetic appearance are making wood flooring highly adaptable to the hospitality industry. Wood flooring also has its application as the wall covering and other segments. They are widely used for exterior covering in the residential sector along with the floor covering application in the backyard and decks. Also, the growing engineered wood manufacturers are focusing on ways to increase their production capacities by adopting technology that helps in printing new designs and patterns and are also offering customizing in various product ranges in terms of shape, size, and designs.

Key Market Trends

Commercial Segment is Expected to Grab a Major Share of the Market in the Near Future

The demand for wood flooring in the commercial segment is on the rise with the growing construction activity in the country. The demand for luxury living spaces, hotel homes, hotels, and other hospitality facilities is forecasted to drive the growth of the market. The non-resilient flooring is emerging in the country as it offers a cost-effective alternative to hardwood flooring, yet without compromising on the aesthetic properties. Engineered Wood and its laminates are a popular choice across the distribution channel as compressed wood comparatively comes in an affordable range and also the natural finish it leaves.

Engineered Wood is Anticipated to Grab a Major Share of the Market

Engineered wood is anticipated to dominate the market during the forecast period owing to the advantages it holds. Engineered wood is low vulnerable to expansion and shrinkage with changes that occur in temperatures and humidity. Also, it comes within the affordable range for a major residential customer base and brings aesthetically pleasing appearance wherever installed. Engineered wood is regularly used in decking and claddings segments as it provides sophisticated and enhanced features of abrasion resistance, dimensional accuracy, and reliability. Along with these factors, the latest advancements in technology are helping to enhance designing as well as printing techniques to give a realistic look to the floors.

Competitive Landscape

India wood flooring market is moderatly fragmented in nature. Various small and medium wood flooring manufacturers are operating in the country at the regional level. India wood flooring market is forecasted to register a markable growth rate with the rapid improvements happening in the printing technology stream that is allowing the manufacturers to combine various new designs with customizable textures.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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