As the North American wood flooring market size is projected to expand at a 1.5% by 2027, Toronto-based hardwood flooring manufacturer Three Trees Flooring is excited to share three key trends observed in the industry over the past three years. Based on existing publically available data and consumer insights, the manufacturer has rounded up what have emerged as recurring themes prevalent across Canada and the rest of North America.
The first trend identified relates to flooring materials. Contextualizing this further, an expert representative has said ‘Perhaps unsurprisingly, engineered wood has been leading the market since 2019 and accounted for more than half (52 per cent) of the total revenue share. This type of material has become widely popularized and available thanks to importance advances in manufacturing and production innovation. Having emerged as a replacement for solid wood, engineered hardwood flooring works by overlapping layers of plywood on top of each other to create a beautiful home aesthetic that is durable, easy to install and cost-effective’.
A second trend emphasized focuses on the types of wood that have been high in demand, specifically oak and maple. Demand for these flooring materials is thought to be correlated with their relatively low costs, patterns and texture, as well as durability potential, particularly among residential consumers who are also leading the market when it comes to revenue. Yet, Three Trees Flooring suggests that they are expecting more and more demand for hardwood floors installations among commercial clients as well. Particularly with the office and workspaces real estate market forecasted to grow in Toronto and other larger key Canadian cities.
The third and final trend concentrates on the end-use and type of flooring project. More specifically, insights are suggesting that the segment is split relatively equally between replacement projects and completely new constructions. ‘It is extremely interesting to see that in almost equal measure replacement has accounted for 52 per cent of the revenue share while new construction has been responsible for the other 48 per cent. This is attributed to continued investment in repairs and reparations across Canada – a trend we have consistently highlighted. But new constructions shouldn’t be ignored either, particularly when taking into consideration the previous trend in terms of commercial spaces projects expected to increase as well. We hope these trends can provide any customers with the right information to be able to make informed decisions about the flooring of their homes or businesses.’
About Three Trees Flooring
Three Trees Flooring is a Toronto-based hardwood flooring manufacturer with European roots. The business provides high-quality, end-to-end engineered hardwood flooring services for any project, regardless of scale or requirements. Three Trees Flooring proudly uses naturally-sourced products from ethical forestry operations to minimize environmental impact without compromising the quality of materials.
Company Name: Three Trees Flooring
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Phone: (416) 665-2624
Address:20 Alness, Unit 1