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Global wood flooring market forecast to increase

A new report titled “Global Wood Flooring Market” has forecast that the wood flooring market will increase at an annual rate of 5.8% over the next five years. There are a number of factors that support this growth forecast.

Firstly, there is an increase in disposable income in many countries and this has resulted in more home renovations. Many consumers and businesses are concerned about the environment and want eco-friendly materials like wood in their homes. Wood flooring from sustainable forests is environmentally friendly and can be recycled.

Users like wood because it is easy to clean and is a natural looking product available in a variety of types and colours. Though more expensive than other floor coverings, solid wood lasts a long time and can be restored by sanding, often making it a more cost-effective choice in the long term.

Engineered wood takes less energy to produce than many other floor coverings and is a cheaper alternative to solid hardwood floors. The report reveals that engineered wood is increasingly being used in new buildings as it is quick to install and does not produce waste.

The price of wood to make engineered flooring and wood flooring planks fluctuates. If it rises sharply, it could negatively affect the wood flooring market if the cost of wood floors becomes unaffordable for many consumers.

New wood flooring in Cheshire homes adds value to a home and is a good investment, as the cost of installation can be recovered when a home is sold.

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