The following is a summary of major findings from the abstract of the Catalina Report on Wood and Laminate Flooring:
U.S. wood and laminate flooring sales are estimated to be $4.4 billion during 2021, a 1.2% increase over the previous year. Sales are expected to rebound from the pandemic-induced recession due to a strong housing market. Demand is projected to increase in 2021 since wood and laminate flooring manufacturers and marketers rely heavily on builder purchases and residential replacement flooring spending. Both of these markets are expected to increase this year. Wood flooring sales are also benefiting from the shift to lower-priced engineered wood flooring.
Engineered wood and laminate flooring are receiving a boost from do-it-yourself residential replacement projects, which increased over the pandemic. Do-it-yourselfers are increasingly turning to home centers and e-commerce retailers to make a purchase. As a result, these channels increased in importance during the pandemic. Wood and laminate flooring manufacturers are also introducing more water- and wear-resistant floorings to increase their competitive position with new and innovative rigid-core LVT floorings.
In addition, the tariff increases on Chinese-made flooring have shifted the supply chain. In the wood sector, the supply chain is shifting to producers located in Vietnam, Cambodia, and other Asian countries. In the laminate flooring sector the supply chain is increasing its dependence on European producers. Even U.S. manufacturers of wood and laminate flooring is benefiting from these trends.