The hardwood flooring industry is undergoing an overhaul.
The industry has seen a resurgence in the last decade, with more than 20 million tons of new hardwood cut annually, according to the Hardwood Products Association.
But, the industry’s biggest competitor, the cement board company, is in a slump.
The cement board business is down 70 percent since the beginning of 2017.
So what has happened to cement boards?
Hardwood floor makers say cement board is still king.
But as cement board production slows, so do the prices of hardwood.
According to the industry group, the average price of a floor in 2017 was $9.95 per square foot, down 6.4 percent from 2016.
A floor at the U.S. Hardwood Institute for the Arts in Los Angeles was $2.38 per square feet, up 14.8 percent from 2017.
The average price for the Hardwoods Institute floor at Home Depot in Colorado was $4.50 per square, up 15.6 percent from the same year.
But cement board prices are also down, according the HardWood Institute.
The company, which makes about half of the cement boards sold in the United States, had a loss of $1.4 billion in 2017, according a company filing with the Securities and Exchange Commission.
It expects to make $1 billion in 2018, down from $2 billion last year.
And cement board sales are down nearly 70 percent from their peak in 2017.
While it is still one of the most popular building materials in the world, the company is struggling to keep up with the demand.
That demand has made cement boards more expensive than ever, especially in parts of the world that do not produce the cement.
Hardwoods are increasingly expensive in parts that have low demand for cement.
For example, in parts like South America, the cost of a single cement board in Colombia is more than $10 per square meter.
And the price of cement boards is rising even in parts with high demand for them.
Hard wood floors are still a major industry, but the demand is not there.
And that is why cement board makers are making more and more hardwood plywood floors.
They want to offer consumers a softer, cheaper alternative to the hardwood board that is now on the market.
This article was written by Mike Zullo for MTV News.