What are the factors that are driving the growth of Flooring Market?

The Flooring Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, production and consumption, supply chain analysis, competitive landscape, and market composition analysis.

Rapid urbanization, increasing disposable income and subsidized construction across Asia Pacific and North America to strengthen growth of flooring market

With majority of the traction for construction industry being provided by Asian countries, the flooring market is anticipated to grow rapidly over coming period. The global construction market is fueled by rapid growth of construction in the United States and India. The construction of new infrastructures in the U.S. is anticipated to outperform that in China during coming year. Additionally, rising demand from India and Indonesia to be the prime factors supporting the growth of construction industry, thereby fueling growth of flouring market across Asia Pacific. The global flouring market is projected to grow at a compound annual growth rate (CAGR) close to 6.0% during the forecast period driven by rising demand from commercial and industrial applications.

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Cost efficiency and durability offered by non-resilient flooring is anticipated to drive flooring market in terms of volume

The flooring market study is segmented based on type, end use, and geography. Based on type the market is segmented into resilient flooring, and non-resilient flooring. The resilient flooring type is further sub-segmented into vinyl flooring and others (cork, linoleum, rubber, and resin). Similarly, non-resilient flooring is sub-segmented into ceramic tiles, wood, laminate, stone, and others (bamboo, and terrazzo). The non-resilient flooring dominated the global market in 2018 and is anticipated to be the major growth contributor during the forecast period. The durability, cost effectiveness, excellent resistant to fire & water, and ecological properties of non-resilient flooring are anticipated to bolster demand for these flooring during the forecast period. Resilient flooring is expected to grow at stable growth over coming period owing to demand from non-residential applications.

Rise in new residential buildings and floor renovation in commercial and industrial buildings to bolster flooring market growth

Based on end use, the global flooring market is segmented into residential, commercial and industrial. The residential segment dominated flooring market owing to rising demand for flooring solutions from new construction and renovation of existing buildings across Asia Pacific and North America. The increase in disposable income has fueled the preference of customized flooring, thereby generating demand for flooring across India, China and the U.S. The growth in commercial flooring is anticipated to be fueled by demand for renovation of office, retail outlets, and industrial floors in coming years.

Based on geography, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is anticipated to be the fastest growing market during the forecast period owing to burgeoning demand from China, India, Indonesia and other Southeast Asian countries. India is anticipated to be the major growth contributor to the regional growth due to rapidly growing construction industry to support escalating urban population across the country. Europe is anticipated to account for steady growth rate close to 4.0% during forecast period.

Major players operating in the global flooring market include AFI Licensing LLC, Beaulieu International Group, Fatra a.s., Gerflor, Forbo Flooring Systems, Interface, Inc., IVC Group, Mohawk Industries, Inc., MONDO S.p.A., Responsive Industries Ltd., Shaw Industries Group, Inc., Tarkett S.A., Kajaria Ceramics, Siam Cement, Grupo Lamosa, Porcelanosa Group, Crossville Inc., Gruppo Ceramiche Ricchetti, China Ceramics Co. Ltd, Saloni Ceramica, and Veisa Ceramics.

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