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:
research into the factors driving the market growth;
- In-depth study
of the factors restraining the market;
assessment of the market segments; and
- Careful analysis
of the regional developments and competitive dynamics of the market.
List of Key Players Covered in this Market Report:
- Kajaria Ceramics
- LG Hausys
- Balta Industries
- Victoria PLC
- James Halstead
- Toli Corporation
- Nora Systems
- Swiss Krono
- Mannington Mills
- The Dixie Group
- Milliken &
- Shaw Industries
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.
Regional Insights: Flooring Market
Asia-Pacific to Hold Commanding Market Position; Europe to Present
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
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
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.
Detailed Table of Content:
- Market Dynamics
- Key Insights
- Global Flooring
Market Analysis, Insights and Forecast, 2015-2026
Key Industry Developments:
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.
Browse Summary of This Research Report:
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