Flooring Market:
Growth opportunities in the Flooring Market look promising over the next six years. This is mainly due to the changing individual lifestyle, changing trends towards the deployment of decorative materials in the interiors and escalating government investment.
Flooring Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Swift urbanization, altering the lifestyle of consumers, and accelerating disposable income resulting in an augmentation in disbursement on products to enhance home décor are some of the drivers stimulating the growth of the global flooring market. Also, the surging initiatives by the government for the expansion of infrastructural across residential areas in several regions and shifting inclination towards utilization of decorative items in the interior of the building will strengthen the flooring market size.
The growing research and development activities for manufacturing reusable flooring material will propel the market growth. Moreover, other factors such as an increase in the growth of organized sectors, recreational activities, and enlargement in the construction activities in non-residential sectors are boosting the market growth. However, the growing apprehension towards health and environmental protection may hamper the market growth. The widespread outbreak of coronavirus pandemic had a negative influence on the market growth. The insufficient accessibility of raw material primarily by China manufacturers due to the low availability of labor and stringent trading regulations is disrupting the manufacturing operations.
Material Segment Drivers
Based on material, resilient flooring is projected to witness a faster CAGR during the forecast period. This is attributed to the robust demand for this material across residential and commercial buildings. In addition to this, their exceptional features, as compared to the non-resilient materials, such as magnified electricity, durability along with economical, easy maintenance, and capability to adapt to almost any décor, paves the way for market growth.
Regional Drivers
Based on the regional coverage, Asia-Pacific is expected to lead the market over the forecast period. This is because of their increasing acceptance in India and China and the strong demand for improved designs and varying products. Furthermore, the mounting population with the increasing urban population is promoting the development of infrastructure across the residential & commercial sectors, thereby driving the flooring industry growth.
Flooring Market’s leading Manufacturers:
- TOLI Corporation
- Interface, Inc.
- Forbo
- Tarkett
- Mohawk Industries, Inc.
- Milliken & Company
- Beaulieu International Group
- Gerflor
- AFI Licensing LLC
- Shaw Industries Group, Inc.
Flooring Market Segmentation:
Segmentation by Material
- Non-Resilient Flooring
- Wood
- Ceramic Tiles
- Stone
- Laminate
- Others
- Soft Floor Covering/Carpets & Rugs
- Resilient Flooring
- Vinyl
- Others
Segmentation by End-Use Industry
- Non-Residential
- Residential
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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