Floor Covering Market: Introduction
- Floor covering products are made with felts, textiles, rubber, resins, or other artificial or natural substances applied or fastened on the base level surface.
- Floor coverings are installed in rooms to provide durability, comfort, decoration, and safety.
Key Drivers of the Global Floor Covering Market
- Growth in the housing industry at the global level is a favorable factor driving the floor covering market, as a result of consumer demand for smooth surface flooring.
- Rugs and carpets are popular among consumers due to their aesthetic and functional properties which can cover the floor as well improve the overall home or office décor appeal. Rising consumer spending on home décor products to bring aesthetic improvements is also driving the market growth.
- Technological advancement in floor cover installation is driving the market growth. Key players are investing on advance equipment which helps companies to install the product on a shorter timeline.
- Enforcement of government regulations regarding disposal of waste and carbon emission have significant influence on the broadloom and carpet tile manufacturing industry. As a result, tile manufacturers are working on a product recycle process with more focus on a reverse distribution model to promote return of carpet tiles.
Growth in Residential and Commercial Construction Industry
- Rising residential and commercial construction in urban and rural areas is set to drive the sale of floor covering products. Construction industry is growing at a fast pace. In 2018, construction spending in New York City was over 70 billion. High spending on construction is likely to result in rising sale of flooring products.
- Average home décor product cost is increasing at a high pace which is driving consumers to purchase floor covering products which is comparatively budget friendly.
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High Cost of Production to Hamper the Market
- During the manufacturing of textile floor coverings (including carpets and rugs), non-degradable waste is manufactured, which is expected to become a challenge to the market growth.
- Production cost of textile floor covering is comparatively high which works as a market restraint.
Asia Pacific to Hold Major Share of the Global Floor Covering Market
- Asia Pacific is the dominant floor covering market as a result of extensive residential usage. Increasing middle class population in developing countries such as China and India is expected to have a huge impact on the floor covering market.
- Rising textile production in India and China will further work as a favorable factor. Furthermore, rising residential construction is anticipated to enhance the market growth.
- Demand for floor covering is also observed in North America and Europe. Demand for tile flooring is significantly high in developed countries including the U.S., U.K., Germany, and France.
Key Players Operating in the Global Market
Large number of small and large local and global players are present in the floor covering market. Companies adopt different strategies such as product innovation & development, geographical expansion, and merger & acquisition, helping them to increase their market share. A few of the key players operating in the global floor covering market are:
- Armstrong Flooring
- Dixie Group, Inc.
- Forbo Holding
- Gerflor Group
- Home Depot Inc.
- Interface, Inc.
- Mannington Mills Inc.
- Mohawk Industries, Inc.
- Shaw Industries Group, Inc.
- TOLI Corporation
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Global Floor Covering: Research Scope
Global Floor Covering, by Product Type
- Textile covering
- Wood and laminate
- Vinyl and rubber
Global Floor Covering, by Application
Global Floor Covering, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the global floor covering is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.