Key companies covered in flooring market are Engineered Floors, LLC, Kajaria Ceramics Limited, INVISTA, LG Hausys, Victoria Oil & Gas plc, Congoleum Corporation, Toli Distribuidora, Interface, Forbo Flooring Systems, Mannington Mills, Inc., Flowcrete, Milliken & Company, and more players profiled
Pune, India, Jan. 25, 2022 (GLOBE NEWSWIRE) -- The global flooring market size is projected to reach USD 515.71 billion by 2026, exhibiting a CAGR of 4.8% during the forecast period. Rising global focus on affordable housing will be a major growth factor for this market, shares Fortune Business Insights™ in its report.
According to UN-HABITAT, approximately 13% of the world’s urban areas have affordable housing. This indicates that an extremely low number of people in cities across nations have are living in regulated housing societies. As a result, governments around the world, especially in developing countries, are ramping up their investment in the housing sector to ensure that every person in the country has a proper home. This is emerging as one of the leading flooring market trends as government-backed building activities will create a huge demand for flooring solutions and thus accelerate the growth of this market in the forthcoming years.
The report states that the Flooring market value stood at USD 355.17 billion in 2018. The other highlights of the report include:
Thorough research into the factors driving the market growth;
In-depth study of the factors restraining the market;
Comprehensive assessment of the market segments; and
Careful analysis of the regional developments and competitive dynamics of the market.
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List of Key Players Covered in Flooring Market Report:
The Dixie Group
Milliken & Company
Shaw Industries Group, Inc.
Flooring Market Key Driver:
Growing Preference for Vinyl Flooring to Fuel the Flooring Market
Vinyl flooring solutions are becoming increasingly among homeowners as well as commercial occupants, which is fueling this market growth. This rising preference is attributable to host of benefits that vinyl tiles and other flooring options offer. For example, in commercial spaces, vinyl tiling provides a durable and reliable flooring solution as these spaces have heavy foot traffic throughout the day.
In case of households, vinyl floors are the ideal solution, since homes have high moisture content and these floors are water- and stain-resistant, giving them a long shelf-life compared to ordinary floorings. Another reason why homeowners prefer vinyl tiles is their affordability. For instance, vinyl tiles mimic the appearance of a ceramic floor, but are more pocket-friendly compared to actual ceramic tiles. Lastly, and most importantly, these floorings are easy to install and maintain, which is the central factor boosting their adoption in both residential and commercial settings.
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Regional Insights: Flooring Market
Asia-Pacific to Hold Commanding Market Position; Europe to Present Lucrative Opportunities
With a market size of USD 185.4 billion in 2018, Asia-Pacific is well-poised to dominate the flooring market share during the forecast period. The primary reason for the region’s dominance is the aggressive investments made by governments in the region, mainly India and China, in infrastructure development.
Moreover, availability of home and personal loans in the region is also generating demand for expensive flooring solutions, thus driving the growth of the market.
In Europe, there is surging demand for vinyl floorings in non-residential buildings, which is fueling the market growth, while in Middle East and Africa initiation of large-scale construction projects is brightening market prospects.
Competitive Landscape: Flooring Industry
Launch of Sustainable Products to Excite Market Competition
The flooring market forecast suggests that the market is slated to enter a period of widespread excitement as many of the leading players are frequently introducing environment-friendly flooring solutions for customers. Through these launches, companies are solidifying their position in the market and diversifying their offerings.
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Detailed Table of Content:
Definitions and Assumptions
Key Emerging Trends – For Major Countries
Key Developments: Mergers, Acquisition, Partnership, etc.
Latest Technological Advancement
Insights on Regulatory Scenario
Porters Five Forces Analysis
Global Flooring Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis, Insights and Forecast – By Type
Carpets & Rugs
Market Analysis, Insights and Forecast – By End-Use
Market Analysis, Insights and Forecast – By Region
Middle East & Africa
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Key Industry Developments:
November 2019: Shaw Industries, the US-based carpet manufacturer, developed COMFOR3TTM, the company’s new soft flooring solution for places with heavy foot traffic. The covering is made from 60-80% recycled content, can be used multiple times, and is 100% recyclable. The sustainable solution is expected to deepen the company’s foothold in this market.
September 2019: Belgium-based Beaulieu International Group’s specialized division, Beaulieu Flooring Solutions, launched its novel latex-free carpet called Rewind. The product is made through a highly sustainable process, which involves no water usage and 83% less gas consumption. The purpose behind its launch is to make trade events and shows more eco-friendly.
Have a Look at Related Research Insight:
Ceramic Tiles Market Size, Share and Industry Analysis, By Application Area (Floor, Walls, Others), By End-Use (Residential, Non-Residential), and Regional Forecast, 2019-2026
Ceramics Market Size, Share & Industry Analysis, By Type (Traditional, Advanced), By Application (Tiles, Sanitary Wares, Abrasives, Pottery, Bricks & Pipes, Others), By End-Use Industry (Building & Construction, Industrial, Medical, Others) and Regional Forecast, 2019-2026
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