Flooring Market (Product - Resilient, Non-resilient, Soft Cover; Material - Carpets and Rugs, Wood (Soft Wood and Engineered Wood), Laminate, Vinyl Sheet and Tile (Homogeneous, Heterogeneous, Luxury Vinyl Tile), Ceramic Tile, Stone; Application - Residential, Non-residential) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
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Global Flooring Market: Key Highlights
- The global demand for flooring stood nearly US$ 274 Bn in 2018 and is projected to reach over US$ 473 Bn by 2027. Economic gains in developing regions such as Asia Pacific, Latin America, and the Middle East have driven the need for urbanization. Increase in population and growth in urbanization are expected to boost the demand for housing. This is anticipated to pave the way for extensive commercial construction activities such as hotels, offices, and shopping plazas. This is one of the key drivers of the flooring industry.
- Floor covering is a term used to describe any layer of finish material applied over a floor structure to provide permanent covering. Common flooring materials are vinyl sheet & tiles, carpets & rugs, laminates, natural stone, wood, ceramic tiles, and rubber. Resilient, non-resilient, and soft cover types of flooring materials are used based on the type of the application.
- The building remodeling industry is one of the major end-users of flooring products. Increase in remodeling activities in mature economies in North America and Europe is likely to drive flooring market in the next few years.
- However, toxic chemicals are used for the manufacture of carpets in the textile industry. Volatile residues have been found in vinyl flooring products. This may lead to several health issues. Increase in concern about the environmental impact of flooring products among consumers is one of the key factors projected to hamper the flooring market during the forecast period.
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Global Flooring Market: Segmental Insights
- Demand for luxury vinyl tiles has been rising at a faster rate vis-à-vis that for hardwood or engineered wood products owing to its added value attributes such as scratch and slip resistance, waterproof, and eco-friendliness.
- Ceramic tile accounted for more than 40% share in global flooring market in 2018. These tiles are known for durability, water resistance, stain resistance, esthetic design, and flexibility. China, Brazil, and India are the major countries in terms of consumption of tiles.
- Carpets & rugs is also a prominent form of flooring in various parts of North America and Europe. Carpets and rugs offer easy installation, easy maintenance, and are available in various design patterns.
- Wood flooring is generally more expensive; however, it offers advantages such as durability, wide esthetic appeal, and environmental sustainability. Wood flooring is environmentally sustainable, as wood is a renewable resource.
- Non-resilent flooring is anticipated to grow at a decent pace due to the constant growth of LVT and its sub category WPC/rigid core. Decline in demand for laminate flooring due to water and noise issues has boosted WPC and rigid core products.
- The residential segment accounted for a major share in global flowing market in 2018. The continuing recovery in the construction industry in many countries after several years of recession is expected to boost demand for flooring products. Resistance to high temperature and hazardous chemicals are the key factors positively influencing flooring products.
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Global Flooring Market: Regional Insights
- Asia Pacific dominated the global flooring market in 2018 with more than 45% market share in terms of volume. The real estate industry in this region is expanding rapidly due to shift in government focus toward infrastructure development. Beneficial regulations along with rising population are making the region highly attractive for the flooring market.
- Europe is likely to be an attractive region of the flooring market, despite strict regulations on products such as PVC and other laminated flooring coverings that cause VOC emissions
- The flooring market in Middle East & Africa is expected to expand at a rapid pace during the forecast period, owing to increasing demand for flooring from several large-sized construction projects
- Demand for flooring with the appearance of wood is high in North America. Hence, manufacturers of vinyl flooring and tiles have developed products that mimic the design and appearance of wood. Demand for these products is rapidly increasing in the flooring market in North America.
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Global Flooring Market: Competition Landscape
- Some of the key players in the flooring market include
- Mohawk Industries Inc.
- Shaw Industries Group Inc.
- Tarkett Group
- Boral Limited
- Armstrong World Industries, Inc.
- Other players include
- The Dixie Group
- Toli Corporation
- Interface, Inc.
- Congoleum Carporation
- Avant Flooring
- James Hallstead Plc
- Mannington Mills, Inc.
- J&J Flooring Group LLC,
- Companies are focusing on efficient and well-developed planning and designing. They are investing in developing new products that are eco-friendly and recyclable.
- Adoption of online and offline marketing strategies as means of raising awareness regarding their quality products is also expected to help them strengthen their footprint in the market.
- In March 2018, Interface Inc. introduced a new global luxury vinyl tile (LVT) collection, Native Fabric, expanding its modular resilient flooring offerings. Native Fabric offers a modern take on the timeless grass cloth design in a variety of shades infused with a woven metallic threading.
- In January 2018, Tarkett Group acquired the assets of Grassman, a leading Australia-based synthetic turf manufacturer, through its FieldTurf subsidiary
- In January 2017, Armstrong World Industries, Inc. Completed the Acquisition of Tectum, Inc. Tectum, Inc is an Ohio-based manufacturer of acoustical ceilings, walls, and structural solutions for commercial building applications.
Global Flooring Market: Scope of the Report
TMR’s recent publication on the global flooring market provides audiences with an overall market outlook, with the help of comprehensive assessment of the global market scenario. TMR’s study on the global flooring market analyzes the market with respect to the historical and current market scenario and offers forecast for the period from 2019 to 2027.
Report readers are able to make important decisions pertaining to their business with a wealth of information and exclusive insights on the global flooring market enclosed in the study. The report on the global flooring market also provides in-depth understanding of key market trends and advancement made by companies. This TMR report is divided into different sections to allow readers to gain individual understanding of the global flooring market.
Key Queries Addressed in Report
- How much volume sales is expected to be generated in the global flooring market by the products during the forecast period?
- What are key growth indicators and market dynamics that are expected to drive the global flooring market in the next five years?
- Which regions are estimated to provide lucrative opportunities to the global flooring market during the forecast period?
- What are the essential strategies adopted by key players operating in the global flooring market in order to expand their geographical presence?
The first section of the TMR’s report on the global flooring market begins with a premise that includes report scope, market segmentation, and research highlights. This is followed by the executive summary that highlights aspects of the global flooring market covered in the study. This section provides brief understanding of market elements and enables readers to understand the aspects covered in the study. The report also includes market dynamics on flooring that offer understanding of market drivers, restraints, and opportunities.
The next section includes segmentation analysis of the global flooring market. This evaluation includes segmentation of the global flooring market based on product, application, material and region. Furthermore, analysis of key segments, year-on-year growth projection, and basis point share analysis are included in the report. These help readers identify promising areas for growth of the market.
The TMR’s study on the global flooring market offers assessment of the geographical landscape of the market. The regional study helps market competitors make important decisions pertaining to their business. Individualized, region-wise, and segment-wise analysis helps readers decipher the growth potential for the market across various geographies. Supported by year-on-year growth projection and global market value and volume share, this section is a vital part of the flooring report.
The study on the global flooring market offers a holistic competitive value judgment, with details of leading as well as emerging market players. The dashboard view of competitors operating in the global flooring market allows readers to understand business strategies of these players along with their performance.
Global Flooring Market: Research Methodology
The TMR’s report on the global flooring market is based on detailed estimation of the market, with the inclusion of comprehensive primary and secondary research inputs. Detailed investigation of the global flooring market, in terms of competition scenario, is supported by individual-level examination of different avenues related to the market. Furthermore, for secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the required understanding of the global flooring market. This helps TMR’s analysts derive crucial predictions and forecast of the global flooring market. Readers can access the study of the global flooring market to gain projected market analysis for the period from 2019 to 2027.
Global Flooring Market: Segmentation
Carpets & Rugs
Vinyl Sheets & Tiles