WOOD & LAMINATE FOCUS ON nd Laminate Flooring e wood and laminate flooring market from AMA Research. Future Prospects
Current trends in this sector point to positive growth of around 2-3% per annum between 2017 and 2021, this takes into account the current prospects for the UK economy which are unsettled at present. The housebuilding sector of the construction industry is a key driver of the domestic sector of the wood floorcoverings market and current forecasts indicate modest annual rates of growth for completions of 2-3% between 2017 and 2021. The current forecasted growth rates suggest that the overall market for wood floorcoverings will continue to grow until 2021, while remaining below the market’s pre-recession peak.
Wood Floorcoverings Product Mix – 2017 (% by Value)
Product Mix
Sales of laminate continued on an upward trend in 2016 and on into 2017, benefiting from the returning confidence in the housebuilding sector, continuing increases in the number of house moves and sustained consumer spending on home improvements. The sector is estimated to experience around 2% growth by the end of 2017.
The solid and engineered wood sector had seen fairly solid growth from 2012 onwards, however, in 2016 growth fell to 1% and similar growth is predicted for 2017. Wood flooring, particularly solid wood, is facing strong competition from alternative flooring products, particularly vinyl, where production techniques have been developed to enable the product to simulate natural wood.
The market for accessories accounts for a small share, and has decreased by 6% in 2016. Accessories are an essential component of the flooring installation process and the demand for wood flooring accessories reflects demand in the wood flooring sector itself, which has been relatively subdued.
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