Flooring Market to Surpass USD 517.74 Billion by 2028 |

Melissa Bradford

Pune, India, Jan. 25, 2023 (GLOBE NEWSWIRE) — The global flooring market research report is a high-quality report having in-depth market research studies. This report provides the best solutions for strategy development and implementation depending on the client’s needs to extract tangible results. It helps businesses obtain granular level clarity on current business trends and expected future developments. Also, the statistical survey elaborates detailed commentary on changing market dynamics that includes market growth drivers, roadblocks and challenges, future opportunities and influencing trends to better understand the business.

According to Fortune Business Insights™, the global flooring market size was USD 342.88 billion in 2020. The market is projected to grow from USD 359.20 billion in 2021 to USD 517.74 billion by 2028 at a CAGR of 5.4% during the 2021-2028 period. According to our expert analysts, surging novel construction projects is likely to offer growth prospects for the market growth. Furthermore, the products utilized for a flooring application, offer characteristics such as protection against scratches, indents, and dampness, as well as can be effortlessly cleaned, which further contributes to the bulging demand.

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List of Key Players Covered in the 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.)

Report Coverage

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.

Segmentation

On the basis of type, the 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 market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

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Report Scope & Segmentation:

Report Coverage Details
Forecast Period 2021-2028
Forecast CAGR 5.4%
2028 Value Projection USD 517.74 billion
Base Year 2020
Flooring Market Size in 2021 USD 359.20 billion
Historical Data 2017-2019
No. of Pages 350
Segments Covered By Form, By Product and Regional
Flooring Market Growth Drivers Surging Demand for Vinyl Flooring in Construction Projects to Fuel Market Growth

 

Construction Segment to Hold the Largest Share

 

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.

Regional Insights

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 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.

Competitive Landscape

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.

Browse Detailed Summary of Research Report with TOC:

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Detailed Table of Content:

  • Introduction
    • 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)
      • Non-Resilient
        • Ceramic
        • Wood
        • Laminate
        • Others
      • Resilient
      • Carpets & Rugs
    • By End-Use (Volume/Value)
      • Residential
      • Non-Residential
    • By Region (Volume/Value)
      • North America
      • Europe
      • Asia Pacific
      • South America
      • Middle East & Africa

TOC Continued…!

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Industry Development

February 2021: Forbo created a novel auditory assortment that 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.

Read Related Insights:

Vinyl Flooring Market to Reach USD 51.45 Billion by 2028 | Stoked by Increasing Demand from Healthcare Sector; Says Fortune Business Insights™

Ceramic Tiles Market to Reach USD 77.82 Billion by 2028 | Ceramic Tiles Industry Striking CAGR of 5.2%

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