Flooring Market Size & Major Factors That Can Increase the Worldwide Demand by 2028
The global flooring market size was $342.88 billion in 2020. The market is projected to grow from $359.20 billion in 2021 to $517.74 billion by 2028 at a CAGR of 5.4% during the 2021-2028 period.
This information is presented by Fortune Business Insights™, in its report, titled, “Flooring Market, 2021-2028.”
According to our expert analysts, surging novel construction projects is likely to offer growth prospects for the market growth. Furthermore, the products utilized for flooring application, offer characteristics such as protection against scratches, indents, dampness, as well as can be effortlessly cleaned, which further contribute to the bulging demand.
Terminated Construction Ventures during Pandemic to Obstruct Market
The pandemic has adversely influenced the construction industry across the globe. The limitations in transportation of resources led to the scarcity of raw materials. Additionally, the lockdown norms and guidelines restrained the suppliers and manufacturers to process their construction accomplishments. This resulted in the interruptions in the novel and prevailing construction developments.
This diminished the utilization of flooring products in the similar time period. Nevertheless, government investment guidelines for constructing and refining healthcare services is probable to act as the chief trend for market retrieval post COVID-19 impact.
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List of Key Players Covered in the Flooring Market Report
- Mohawk Industries, Inc. (U.S.)
- Shaw Industries Group, Inc. (U.S.)
- TARKETT S.A. (France)
- Armstrong Flooring, Inc. (U.S.)
- Forbo Flooring Systems (Netherlands)
- Gerflor (France)
- Interface, Inc. (U.S.)
- Beaulieu International Group (Belgium)
- Toli Corporation (Japan)
- Milliken & Company (U.S.)
- Congoleum (U.S.)
- Flowcrete (U.K.)
- James Halstead (U.K.)
- The Dixie Group (U.S.)
- Victoria PLC (U.K.)
- Mannington Mills, Inc. (U.S.)
- Balta Industries (Belgium)
- Swiss Krono (Switzerland)
- LG Hausys (South Korea)
- Parador (Germany)
- Invista (U.S.)
- Boa-Franc (Canada)
- Kajaria Ceramics (India)
- Engineered Floors (U.S.)
We provide our reports which are conducted with an all-inclusive examination approach that majorly emphasizes on delivering precise material. Our scholars have applied a data triangulation method which further assists us to offer trustworthy estimations and test the general market dynamics accurately. Further, our analysts have received admission to numerous international as well as regional funded registers for providing the up-to-date material so that the stakeholders and business professionals invest only in essential zones.
Drivers and Restraints
Surging Demand for Vinyl Flooring in Construction Projects to Fuel Market Growth
Vinyl is used as a versatile component in tiling applications, where, luxury vinyl tile is used majorly. It is resilient to mold, dampness, and fungus, which makes it an appropriate flooring option for utilization where wetness and infrequent spills are the prime concerns.
It can be effortlessly installed, is robust, and obtainable at a cheaper cost, which furthermore adds to its increasing admiration in the variety of residential as well as non-residential buildings. This is expected to bolster the flooring market growth during the forecast period.
Asia Pacific was worth USD 180.38 billion in 2020. Asia Pacific is the biggest and speediest-surging region and held the maximum flooring market share owing to large scale financing scheduled by governments of India, China, and Southeast Asia on infrastructure expansion.
Europe is likely to be administered by the utilization of ceramics and vinyl in non-residential structures.
The Flooring Market in the Middle East & Africa is in the growth phase of its life cycle, owing to growing demand for floor casings from numerous large-sized construction developments, and therefore, is expected to gain substantial market share during the forecast period.
Procurements Initiated by Key Players to Amplify its Spot in Market
Prominent players initiate tactical campaigns to thrust their position as chief players in the market. Their effective strategies involve acquisitions, mergers, collaborations as well as launching products among many others.
On the basis of type, the flooring market is categorized into non-resilient, resilient, and carpets & rugs.
Based on end-use, the market is segregated into residential and non-residential. The residential segment is the dominating contributor for the growth of this market. The growth in residential segment is accredited to the growing population and disposable income of the consumers.
Geographically, the flooring market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Table of Content
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights – Impact of COVID-19 on Global Flooring Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Flooring Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- By Type (Volume/Value)
- Carpets & Rugs
- By End-Use (Volume/Value)
- By Region (Volume/Value)
- North America
- Asia Pacific
- South America
- Middle East & Africa
February 2021: Forbo created a novel auditory assortment which unites the well-known Sarlon acoustic vinyl variety of the company and award-winning Modul’up adhesive free solutions. This freshly launched collection is estimated to be the point of reference for any development where impact-sound is required to be diminished.
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