The increasing investments in the construction industry is expected to foster healthy growth of the market, states Fortune Business Insights, in a report, titled “Sheet Flooring Market Size, Share & Industry Analysis, By Type (Resilient flooring, Non-resilient flooring), By Application (Residential, Commercial) and Regional Forecast, 2020-2028.” The market size is expected to proliferate owing to the demand for durable flooring.
The report on the sheet flooring market, particularly states minute and significant improvements in the global market in recent times. The report also offers a wide-ranging study fixated on emerging trends and new innovative products. Also, the robust research methodology involving primary interviews and desk research is all covered in the report, while also providing a noteworthy overview of the R&D activities and latest developments to support emerging companies to strengthen their position and strategize to remain at the forefront.
Agreement of Shaw Industries and US Floors to Incite Development
The sheet flooring is considered the most user-friendly solution as it offers better moisture resistance than conventional ones. In addition, the growing floor construction in residential and commercial sectors can subsequently enable speedy expansion of the market in the forthcoming years. The varieties include, Wood-look vinyl sheet, stone-look vinyl sheet, and tile-look vinyl sheet. However, the health & environmental concerns are expected to restrict the market’s growth during the forecast period.
Shaw Industries, one of the world’s largest carpet manufacturers with more than $6 billion in annual revenue and approximately 22,000 employees worldwide, announced that it had signed an agreement with US Floors to acquire its luxury vinyl tile business. This strategy is expected to strengthen the companies’ position in the hard surface and luxury vinyl tile markets. It will also accelerate the product offering of Shaw Industries due to its involvement in composite flooring as well as hardwood products. Furthermore, the shift from conventional gray quartzite to durable flooring due to its lightweight, cost-effectiveness, and easy maintenance features can greatly impact the market.
Heavy Investments in Construction Sector to Stimulate Growth in Asia Pacific
The expansion housing sector in South Africa, Turkey, and India due to the easy accessibility for loans and shifting customer lifestyle can enable speedy expansion of the market. Latin America is expected to experience steady growth as a result of the booming housing sector expansion, which, in turn, can create opportunities for the market in the region.
Asia Pacific is expected to dominate the market owing to the consumer inclination towards product variety and better designs. Moreover, rising population growth, heavy investments in the construction sector, and demand for improved residential construction can further foster healthy development of the market in the region. Europe is expected to increase rapidly owing to the ongoing evolution in the region. Evolving building and infrastructure patterns for modern architectural structures is expected further to improve the growth of the market in the region.
January 2018: Tarkett, a major manufacturer of floor and wall coverings, has unveiled that it has invested USD 85.9 million to significantly boost its Luxury Vinyl Tiles manufacturing capacity across Europe and North America.
The Report Lists the Main Companies in the Global Sheet Flooring Market:
Mohawk Industries, Inc
Shaw Industries Group, Inc.
AFI Licensing LLC
Beaulieu International Group
Milliken & Company.
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