The ‘Wood and Laminate Floorcoverings Market Report – UK 2017-2021 Analysis’ report published by AMA Research, suggests that Brexit should not affect the UK wood floorcoverings market too severely. The uncertainty surrounding Brexit in 2016 meant that growth slowed to 1%, but estimates for 2017 show value growth of around 1-2%.
Wood floorcoverings are now marginally the second largest floorcoverings sector in the UK, with its main competitor being the vinyl sector. It currently accounts for an estimated 16% of the market in value terms – at its peak between 2004-07, this share was 17-18%. Design trends have seen the increased use of greater colour variations and mixed plank sizes to allow bespoke flooring installations. Trends such as knots, “distressing” and antique floors have also increased in interest.
Jane Tarver of AMA Research commented: “The wood floorcoverings sector is forecast to show annual gains of around 2-3% in the period to 2021.Forecasting is difficult at present, with the Sterling exchange rates likely to have more impact into the medium-term than has previously been the case. Increased import costs will have a greater impact on margins and many suppliers may be forced to pass on these increased costs. However, value growth is also likely to be stimulated by increasing demand for FSC and PEFC certified timbers as environmental considerations become more prominent in the specification process.”AMA Research Ltd | amaresearch.co.uk