Engineered Wood Flooring Imports Grew 22% in First 9 Months of '22
Washington, DC, December 2, 2022-Year-to-date through September, U.S. imports of engineered wood flooring have grown by more than 22% in value to more than $1 billion and by more than 19% in volume to over 600 million square feet, reports the Decorative Hardwoods Association.
“This strong growth comes on the heels of an increase of more than 31% in value in 2021. Year-to-date imports from Vietnam are up by 33%.”
In addition, the group reports that, “Experts predict that the global market for engineered wood flooring will reach nearly $77 billion in 2030, a compound annual growth rate of 5.5%. Last year, the market grew to $47.5 billion. North America is forecast to hold the largest share due to increasing use in construction and in existing U.S. residential and commercial buildings.”