Increasing Focus on Indoor Sporting Activities to Boost Demand for Wood Flooring Industry
Americans spend around 90% of their time indoors, according to the U.S. Environmental Protection Agency. Wood flooring is at the cusp of a revolution as flooring installation is at the top of the list to boost mental well-being and the work environment. With the rising prominence of environment-friendly materials, homeowners have exhibited an immense interest in installing flooring and remodeling homes. Fortune Business Insights™ estimates the market for wood flooring will surpass USD 41,682.2 million by 2027. At a time when innovations and technological advancements are at their peak, hardwood and engineered wood are poised to be trendier among homeowners.
In a bid to keep up with the demand for natural-looking and low-gloss floors, suppliers are bringing a paradigm shift in core construction and wood finishing. Hard floors could be a lucrative option for potential buyers as the former could augment the property value.
The Floor offers High Return on Investment
Estate agents have long vouched for wood floors that could help floors sell faster vis-à-vis homes with other types of flooring. Hardwood floors could add resale value to the home through durability and easy cleaning. In addition, natural hardwood floors provide an aesthetic look, helping spur the selling price of the house. Citing Realtor, the Floor Venue asserts installing hardwood floor could have return on investment between 70% to 80%. Moreover, Floor Venue quoted Alex Biyevetskiy, a home remodeling expert, stating that hardwood floor could boost the resale value of housing by 2.5%, provided it is done right.
Solid wood flooring could last for a lifetime and may not need repair. It is also believed that hardwood floor could be ideal for luxury high-end homes.
Pros and Cons of Wood Flooring
In layman’s terms, hardwood flooring is made of hardwood species such as oak, maple or walnut. It has gradually become one of the most popular flooring options across North America and Europe. It could be sought for long-term maintenance as it can be refinished several times or sanded down to preserve its aesthetic value. The National Association of Realtors reported in April 2022 that installing hardwood flooring received a perfect “Joy Score” in the NAR/NARI joint study. Additionally, 64% of those surveyed answered that they had an increased sense of enjoyment with wood flooring installed.
- Easy Maintenance
- Aesthetic Look
- Allergen Reducer
- High Return on Investments
- Moisture Damage
- Gouges and Scratches
Lately, engineered wood options have taken the world by storm as builders, architects, and interior designers envisage them as a budget-friendly flooring option. It is pertinent to mention that engineered wood floor is akin to solid hardwood.
Engineered Wood Flooring: A Cheaper Timber Option
Engineered flooring has become trendier for high-moisture environments, making it a better choice for bathrooms, kitchens, and basements. Although engineered wood flooring may not be waterproof, it could provide better performance in humid conditions vis-à-vis hardwood. As compared to its counterparts, engineered flooring is believed to be budget-friendly. Apart from aesthetic appeal, the flooring option is easier to maintain and clean. Affordable engineered wood floor solutions will continue to gain ground among homeowners. Since engineered wood does not need fresh timber, it has gained popularity as an environment-friendly option.
- Resistant to termite attacks, warping, and cracking
- Compatible with underfloor heating
- Lightweight and aesthetically attractive
- Toxic chemicals
- Not recommended for wet locations
- Not waterproof
With more resistance to fluctuations in temperature and humidity, engineered woods will be sought in the construction of modular kitchens, making of doors, bookshelves, fabrication of furniture, and construction of outdoor furniture.
While engineered wood floor is more affordable than hardwood, it may not be refinished to expand its lifespan. Meanwhile, both flooring options are sought-after across residential and commercial settings.
The Art of Living Meets Performance
The beginning half of 2021 witnessed an unprecedented labor shortage, largely due to the COVID-19 pandemic. Meanwhile, contemporary design, with the latest trends in architecture, art, and design, is laying the foundation for stable growth in 2022 and beyond. Manufacturers and other stakeholders could anchor the production of eco-friendly products. High-quality floors will gain ground in a holistic way and could provide high return on investments. Amongst several environment-friendly alternatives, wood flooring could witness huge opportunity.