As predicted by industry experts, some green materials such as natural wood flooring, laminate flooring can replace heavy materials. And the wood flooring market will grow steadily and open a positive development period for businesses doing business in this field.
The world wood flooring market is forecasted to grow at an average rate of over 2.7% per year in the period of 2021 – 2027. Vietnam has always kept pace with the trend of globalization very quickly, so the wood flooring market is gradually growing. replacement for ceramic tile, stone, concrete…
In the face of unpredictable developments of the Covid-19 epidemic, political instability from major powers such as the United States, China … makes consumers tend to saving instead of spending. Therefore, the construction and decoration of houses and real estate projects are also affected. The growing penetration of laminate flooring in the commercial sector especially in developed regions including North America and Europe will drive the laminate flooring market to grow accordingly.
Vietnam’s oriented products are wooden floors with diverse, beautiful and luxurious designs; affordable designs; suitable for the middle class and aiming to change the user’s mindset towards eco-friendly wooden flooring products.
Covid – 19 has not yet subsided in many countries and the world’s economy is still heavily affected by the impact of the pandemic. The psychology of stockpiling goods also pushed export costs to spike, causing many businesses to suffer heavy losses, even at risk of heavy losses. Therefore, the problem of price increase is inevitable. Therefore, the wood flooring industry is also affected by the price increase of 10-15%.
Faced with such a reality, businesses need flexible and creative improvements in products and styles that better meet customer needs and respond to market fluctuations. And certainly, choosing to compete on price is not a smart solution that can solve existing problems.