Hardwood flooring consumption increased 5.9% in 2016, according to a market research report released by Catalina Research.
Growth in laminate flooring was much lower at less than 1%. The US hardwood flooring market was worth US$3.64 billion in 2016.
In laminate flooring imports have grown, especially from Asia, but US producers hope that the new federal formaldehyde emission requirements will provide a competitive advantage to domestic manufacturers.
Competition from non-wood hard surface floors, especially luxury vinyl tile and wood plastic/polymer composites, is another concern for wood flooring producers.
The hardwood flooring market outlook for 2018 is positive. The National Hardwood Flooring Association carried out a survey among its members this year and more than 70% expect sales to grow at least 3% in 2018. One third of manufacturers, distributors, retailers, and contractors expect sales to grow 8% or more.