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High demand forecast for engineered flooring

Research by the Freedonia market research organisation has forecast an 11% growth in demand for engineered wood flooring during the next four years.

Following a drop in demand during 2020, probably caused by the coronavirus pandemic, the market is expected to recover, then grow annually, producing 9.3 million square feet of flooring in 2024.

There are a number of reasons for the expected high demand for engineered flooring. More homes are being built and homebuyers increasingly want luxury flooring made from natural materials. In addition, people are spending more time at home because of the coronavirus lockdown, and instead of spending money on holidays and entertainment, they are improving their homes instead. New wood flooring is a popular home renovation project.

Consumers are expressing a preference for natural, environmentally friendly materials like wood. Engineered wood is chosen because it is generally less expensive than solid wood, but still has a real wood surface.

Households have also been concerned about hygiene during the coronavirus pandemic. Wood flooring is considered more hygienic than carpets and is easier to clean.

Luxury vinyl tiles (LVT) are competitors for engineered wood. Modern printing techniques produce a finish that looks very similar to real wood, but many consumers feel that vinyl cannot quite match the aesthetic appeal of real wood.

Engineered flooring is popular in Wirral and Cheshire homes. Homeowners appreciate the natural look and view engineered flooring as a solid investment, as wood flooring can add to a home’s value, and prospective buyers are attracted to a real wood floor.

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