The wood flooring industry has experienced explosive growth over the past few decades. Demand for hardwood flooring is increasing due to several reasons. The increasing popularity of rustic, natural, and unfinished designs, a rise in interest in natural woods, and a shortage of authentic hardwood floors in many markets, are all driving the growth of the industry. We are in the midst of a historic shift in consumer preferences and desire for materials. The switch from polyurethane to natural flooring, which took place in the 1980s, continues to drive growth in the industry. What can drive further growth in the industry?

With demand for natural hardwood increasing and new alternatives becoming more available, the industry has seen strong growth over the last decade. Many of the factors driving demand for natural hardwood can also be found in the growth of the flooring industry. The increasing popularity of reclaimed and salvaged woods, the desire for sustainable flooring, and increasing awareness of the environmental impact of hardwood flooring are all contributing to the industry's growth. In addition, the increased popularity of custom furniture manufacturing and a growing number of online retailers has led to stronger demand for high-end custom furniture. 

The Market for New and Used Hardwood Flooring

New, quality hardwood is a look that hasn't gone out of style. In fact, it’s still coveted by many. This is due to the higher demand for high-quality flooring, which also drives up the price of raw materials. However, new hardwood is competitively priced when compared to new hardwood flooring. There are a number of factors involved in the pricing. Since it’s typically imported from Asia, the materials are lower in price. The fact that most new hardwood materials are made in Asia also accounts for the higher prices that many retailers are charging for imported goods. What will be the effect of higher shipping costs, and other current market factors?

The Increase in Popularity for Hardwood Flooring

There has been a 15% increase in shipping costs since 2007, which has had a direct impact on the industry, according to Bloomberg. In fact, according to the National Hardwood Flooring Association, with the USA's 45,000 hardwood flooring employees nationwide, they make and install hardwood floors for thousands of homes every year. That includes over $4 billion in yearly sales. However, with the recent shortages in key supply regions for the industry, manufacturers are trying to reduce these costs by looking toward the future. Many are exploring ways to reduce carbon emissions through more efficient manufacturing techniques. Finally, the industry has been active in finding increasingly more attractive uses to save shipping and transportation costs to make their industry more green-friendly.

To learn more and to get brand-new hardwood flooring installed in your home, don’t hesitate to give our team at Ceric Hardwood Floors a call today.