India Wood Flooring Market Size
|Study Period||2018- 2028|
|Base Year For Estimation||2022|
|Forecast Data Period||2023 - 2028|
|Historical Data Period||2018 - 2021|
|CAGR (2023 - 2028)||> 6.40 %|
*Disclaimer: Major Players sorted in no particular order
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India Wood Flooring Market Analysis
The India Wood Flooring Market is expected to register a CAGR of greater than 6.40% during the forecast period.
The Indian wood flooring market is anticipated to register growth numbers during the forecast period owing to the rapidly expanding construction industry across India, which ultimately raises flooring opportunities. The government's efforts to encourage the tourism industry in the country are leading to a rise in the hospitality industry and the construction of hotels and premium stay-in facilities like villas and resorts. The entertainment sector is also growing in India with rapid population growth and ultimate urbanization, which is encouraging the expansion of shopping malls, family entertainment centers, etc.
India's wood flooring market, which is one of the leading variants of the flooring market, suffered several setbacks during 2020 due to the sudden COVID-19 pandemic. However, the residential construction sector, which was the key market for wood flooring, also suffered due to COVID-19, which in turn affected the wood flooring market with revenue losses.
The premium features offered by wood flooring, such as ease of installation, long-lasting shine and durability, and an ultimate aesthetic appearance, make wood flooring highly adaptable to the hospitality industry. Wood flooring also has other applications, such as wall coverings and other segments. They are widely used for exterior covering in the residential sector, along with floor covering applications in the backyard and on decks. Also, the growing number of engineered wood manufacturers are focusing on ways to increase their production capacities by adopting technology that helps in printing new designs and patterns and are also offering customization in various product ranges in terms of shape, size, and designs.
India Wood Flooring Market Trends
Rise In Construction Activity is Increasing Demand For Wooden Flooring
The demand for wood flooring in the commercial segment is on the rise with the growing construction activity in the country. The growth of the market is likely to be driven by the demand for luxury living spaces, hotel homes, hotels, and other places to stay. Non-resilient flooring is becoming more popular in the country because it is less expensive than hardwood flooring without sacrificing looks. Due to compressed wood's relative affordability and the natural finish it leaves, engineered wood and its laminates are a popular choice throughout the distribution channel.
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Rising Demand For Engineered Wood Products is Driving the Market
Because of its benefits, it is expected that engineered wood will lead the market over the next few years. Engineered wood is less vulnerable to expansion and shrinkage with changes that occur in temperatures and humidity. Also, it comes within the affordable range for a major residential customer base and brings an aesthetically pleasing appearance wherever it is installed. Engineered wood is regularly used in decking and cladding segments as it provides sophisticated and enhanced features of abrasion resistance, dimensional accuracy, and reliability. Along with these factors, the latest advancements in technology are helping to enhance design as well as printing techniques to give a realistic look to the floors.
India Wood Flooring Industry Overview
India's wood flooring market is moderately fragmented in nature. Various small and medium wood flooring manufacturers are operating in the country at the regional level. India's wood flooring market is forecasted to register a markable growth rate with the rapid improvements happening in the printing technology stream that is allowing the manufacturers to combine various new designs with customizable textures.
India Wood Flooring Market Leaders
BVG Industries Pvt. Ltd.
Greenply Industries Limited
Century Plyboards India Ltd
*Disclaimer: Major Players sorted in no particular order
India Wood Flooring Market News
- May 2023: Greenply Industries Ltd, a manufacturer of plywood and allied products, entered into a joint venture agreement with Samet BV for manufacturing and selling functional furniture hardware
- June 2022: Greenlam acquired a laminate manufacturing facility in Gujarat for USD 4.39 Million. This acquisition will reinforce Green Lam's leading position in the laminate industry, raising its capacity to 24.5 million sheets.
- March 2022: Greenply Industries Limited announced its association with the first-ever team from Uttar Pradesh in the T20 tournament, the Lucknow SuperGiants, as an associate partner of the franchise.
India Wood Flooring Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Latest Technologies Used in the Industry
4.7 Insights into Regulatory Landscape in the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Solid Wood
5.1.2 Laminated Wood
5.1.3 Engineered Wood
5.2 By End-User Type
5.3 By Distribution Channel
5.3.1 Home Centers
5.3.2 Specialty Stores
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Century Plyboards India Ltd.
6.2.2 Greenply Industries Ltd.
6.2.3 Avant Flooring
6.2.4 BVG Industries Pvt. Ltd.
6.2.5 Accord Floors
6.2.6 Armstrong World Industries (India) Pvt. Ltd.
6.2.7 EGO Flooring
6.2.8 Greenlam Industries
6.2.9 Parkay Floors
6.2.10 WoodFloors India
6.2.11 Westwood Flooring*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
India Wood Flooring Market Research FAQs
What is the current India Wood Flooring Market size?
The India Wood Flooring Market is projected to register a CAGR of greater than 6.40% during the forecast period (2023-2028)
Who are the key players in India Wood Flooring Market?
Avant Flooring, BVG Industries Pvt. Ltd., Greenlam Industries, Greenply Industries Limited and Century Plyboards India Ltd are the major companies operating in the India Wood Flooring Market.
India Wood Flooring Industry Report
Statistics for the 2023 India Wood Flooring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Wood Flooring analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.