WOOD & LAMINATE
SUPPLY STRUCTURE This market has remained highly fragmented, with prices under pressure as consumers increasingly seek value- for-money products. This has further intensified already-high levels of competition and the wood floorcoverings market consequently remains very competitive, despite improvements in the housing market and wider economy.
FUTURE PROSPECTS Current trends in this sector point to positive growth of around 3–4% pa in the short to medium term, with the domestic market improving further as consumer confidence continues to recover. Information from the builders’ merchants sector suggests
The UK is a net importer of wood floorcoverings, and the value of imports rose quite significantly in 2014 by around 12%. However, variable import values year on year reflect factors such as the volatility of global timber prices and other input costs, including petrochemical based binders and finishes, energy and fuel.
that homeowners are likely to increase spending on home improvements with the property market at its most buoyant in years. After 2017, the annual rate of growth may slow slightly to around 2-3%, resulting in an estimated value of £340m by 2019, still below the market’s pre-recession peak.
Wood Floorcoverings Product Mix – 2014 (% by Value)
The rationalisation of production facilities away from the UK to lower cost countries by larger global players is also a critical factor. China remains the dominant supplier of wood flooring imports to the UK, however its share has fallen from a high of 57% in 2010 to 44% in 2014, in value terms. Poland is the dominant European supplier, more than doubling its share of UK imports since 2010.
PRODUCT MIX Sales of laminate continued on an upward trend in 2014 and on into 2015, benefiting from growth in the housing market and strengthening consumer confidence. The sector is estimated to experience around 2% growth by the end of 2015.
The solid and engineered woods sector has been less volatile than laminate and is expected to grow by 3% in 2015. As with laminate flooring, solid and engineered woods returned to growth in 2012 after four years of decline in 2008-11, which saw the value of the market fall by an estimated 14%. However, the sector has fared considerably better than laminates.
The market for accessories is worth around £16m. Tighter regulations for the control of volatile organic compounds (VOCs) are one of the key factors driving research and innovation into new, more environmentally friendly products. However, growth in this sub-sector in 2012-14 has been marginal.
Extracted from the ‘Wood and Laminate Floorcoverings Market Report - UK 2015-2019 Analysis’
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