Overall flooring sales grew 6% last year, to $21.83 billion, with the hardwood market accounting for $3.35 billion and laminate flooring $935 million, according to Catalina Research. Future projections for 2015 are also optimistic as consumer confidence and spending continue to rise.
A survey of flooring manufacturers by the National Wood Flooring Assn, found more than 80% said business is better than last year, with 84% saying the dollar value of their wood flooring sales had increased in 2014, and another 13% indicating it stayed the same.
Laminate flooring manufacturers are also seeing their sales rise, albeit more slowly. Catalina's research saw these sales improve 1.4% last year, compared to 14.7% for hardwood.
The economy continues to be the biggest "threat" to business, followed by government regulations, competition from imports as well as other types of floor coverings. With 2016 an election year, the political climate is also of concern, the NWFA survey found.
Laminate flooring was a $936 million industry in 2014,4% of the total market. The majority of sales, 80%, were in home remodeling.
2014 hardwood flooring sales were $3.3 billion, 15% of the total market. About half of sales (54%) were in home remodeling.
Sources: Catalina Research, Floor Covering Weekly, IBISWorld, NWFA/Hardwood Floors magazine
Flooring: hardwood flooring, laminate/engineered flooring, plank, parquet, cork
Surveyed National Wood Flooring Assn, members said their biggest threats are: The economy 30% Competing Asian manufacturers 26% Government regulations 15% Competing floor coverings 11% Other 7% Political climate 7% Competing American & Canadian Manufacturers 4% Source: NWFA Note: Table made from pie chart. SHOULD LEED CHANGE? Should the LEED green building program recognize other wood flooring certifications besides FSC? YES 70% NO 30% Note: Table made from pie chart. Source: NWFA Wood Flooring Manufacturing in the U.S. Revenue $2 billion Annual Growth 2010-2015 10.9% Employment 7,810 Number of manufacturers 67 Flooring Installers in the U.S. Revenue $18 billion Annual Growth 2010-2015 3.1% Employment 128,670 Number of Businesses 77,344 Source: IBISWorld
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|Date:||Dec 1, 2015|
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