U.S. floor coverings manufacturer sales (shipments minus exports plus imports) growth slowed in the third quarter of 2022. Catalina Research expected U.S. manufacturer dollar sales to increase by roughly 5.6% in the third quarter, due in part to price increases to cover rising material, labor, and transportation costs. In comparison, sales for the first half rose 13.4%. In its Floor Coverings Industry Quarterly Update, Catalina also noted a reduction in discretionary flooring replacement purchases by homeowners due to inflationary pressures.
Despite the supply chain, pricing and other challenges, manufacturer members of the National Wood Flooring Association remain cautiously optimistic heading into 2023. The NWFA Industry Outlook survey reports 21% of respondents expect sales to be up significantly, 28% up somewhat, and 19% indicating about the same, with 21% forecasting a slight downturn, and 11% a significant (8%+) sales drop. In comparison, for 2022 30% expect significant sales growth, 21% up somewhat, and 19% about the same, with 17% anticipating some decrease, and 13% seeing a significant drop.
• The global hardwood flooring market is expected to reach $61.78 billion in 2028 (4.3% CAGR), according to Reports and Data.
• 2021 worldwide sales by members of the European Producers of Laminate Flooring were 483.4 million m², up 5.3% from 2020.
• In NWFA’s 2023 Industry Outlook (Hardwood Floors magazine), 72% of respondents plan to improve processes to become more efficient; 42% said they will add new product categories, lines or services; 38% add employees; 37% invest in or leverage existing technology for growth; 37% plan to make improvements to increase the resiliency of their supply chain; and 15% plan to add new locations.
• Hardwood flooring accounts for 12.9% of the overall floor-covering market, grew according to Catalina Research (Floor Covering Weekly’s Statistical Report). The end-use markets for the $4.35 billion hardwood flooring segment are: residential replacement (49.3%), residential builder (31.0%), commercial new construction (10.7%), commercial replacement (7.4%), transportation and other industries (1.5%), and manufactured housing (0.1%).
• Laminate flooring accounts for 3.2% of the overall floor-covering market, according to Catalina Research (Floor Covering Weekly’s Statistical Report). The end-use markets for the $1.08 billion laminate flooring segment are residential replacement (79.8%), commercial replacement (10.3%), and residential builder (9.9%).
• According to the NKBA/KBIS 2023 Design Trends report, the five most popular kitchen flooring materials over the next three years will be: hardwood/engineered wood (48%), luxury vinyl wood plank (46%), ceramic/porcelain tile (33%), and luxury vinyl tile (23%), with laminate and stone tied at 10%.
• Wire-brushed and reclaimed flooring will maintain their popularity in 2023, while demand for hand-scraped and gray stains is expected to decrease, according to the NWFA’s 2023 Industry Outlook survey,
Market Data Sources: Catalina Research, Floor Covering Weekly, National Wood Flooring Assn. (NWFA), Hardwood Floors magazine, TraQline, Home Improvement Research Institute, Reports and Data, European Producers of Laminate Flooring, North American Laminate Flooring Assn., National Kitchen & Bath Assn. (NKBA), Floor Focus magazine. Category: Flooring: hardwood flooring, laminate/engineered flooring, plank, parquet.
More data on North American woodworking and the specific wood product market segments can be found in the December 2022 FDMC Wood Industry Almanac. Also, find market data year-round at WoodworkingNetwork.com/news/almanac-market-data.
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