wood floorcoverings returned to growth in 2012 after four years of decline in 2008-11, which had seen the value of the market fall by an estimated 14%. Growth for the sector in 2014 was estimated at 3%. The accessories sector accounts for around 5% of the total wood and laminates floorcovering market.
Jane Tarver, from AMA Research, said: “While domestic DIY installations of
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wood floorcoverings are still below pre-recession levels, there is a degree of pent-up demand in the market and consumer confidence continues to improve as a result of low inflationary pressures and a strengthening economy.
”Despite reasonable growth, the market value is forecast to remain some 13% lower than its pre- recession peak in 2007.”
The UK is a net importer of wood flooring, with imports rising quite significantly in 2014, as a result of robust recovery in both domestic and non-domestic construction activity and output. Variable import values year on year, however, reflect factors such as the volatility of global timber prices and currency fluctuations. 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, while Poland is the dominant European supplier-country, more than doubling its share of UK imports since 2010.
Current forecasts indicate annual growth of around 3-4% each year to 2017, with the annual rate of growth falling slightly in 2018-19. The market is estimated to reach a value of around £335m in 2019.
www.amaresearch.co.uk WOOD & LAMINATE | 35
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