NEW YORK, March 13, 2023 (GLOBE NEWSWIRE) -- IndexBox, a leading market research firm, has released a new report on the global parquet market. The report, available for purchase on the IndexBox website at https://www.indexbox.io/store/world-parquet-panels-of-wood-for-mosaic-floors-market-analysis-forecast-size-trends-and-insights/ , provides a detailed analysis of the market, including trial access to market data on the platform.
The report provides a market forecast till 2030, with a predicted CAGR of 5.5%. The growth is primarily attributed to the increasing demand for luxury flooring solutions, growing demand for eco-friendly and sustainable flooring solutions, and increasing urbanization and construction activities in developing countries.
The report identifies several key growth drivers for the market, such as the availability of different colors and patterns, a rising number of building projects, and the popularity of premium wooden flooring. However, the report also highlights several challenges that the market faces, including high installation and maintenance costs and the availability of cheaper substitutes.
Factors affecting demand include changing consumer preferences and lifestyles, rising disposable income, and the popularity of DIY home improvement projects. The report provides an overview of the major consuming industries, including the residential, commercial, and industrial sectors, and how they affect the industry.
Major Consuming Industries:
- The residential sector is the largest end-user of parquet, accounting for 64% of global consumption.
- The commercial sector is also a significant consumer of parquet, driven by the increasing popularity of wooden flooring in offices, hotels, and retail stores.
- The industrial sector is a smaller consumer of parquet, but is expected to grow due to the increasing use of parquet in warehouses and factories.
Europe is the largest market for parquet, accounting for 47% of global consumption. The Asia Pacific region is expected to have significant growth prospects, driven by the increasing construction activities in countries like China and India.
The report also provides a list of the five largest manufacturers in the global parquet market, including Barlinek SA, Boa-Franc Inc., Boral Limited, Kährs Holding AB, and Tarkett S.A.
Aleksandr Romanenko, CEO of IndexBox, said, "Our latest report on the global parquet market provides valuable insights into the industry, including key growth drivers, challenges, and major consuming industries. It is an essential tool for companies looking to make informed decisions about their business strategy."
Keywords: global parquet market, market forecast, growth drivers, challenges, consuming industries