Synthetic Textile Flooring Market: Overview
- Synthetic textiles are mostly utilized for the production of textile flooring. Synthetic textile flooring is one of the key components of interior refurbishment systems used in residential and commercial sectors. Synthetic textile flooring based on tufting technology is a commonly accepted technology by manufacturers in terms of manufacturing cost, as well as easy installation and ease of use by consumers.
Key Drivers of Synthetic Textile Flooring Market
- The synthetic textile flooring market is predominantly driven by textile industry. Consumption of textiles and home furnishings is growing rapidly, owing to rise in consumer spending on home renovation and accelerating investments in infrastructural development. In Asia Pacific, rise in requirement from textile industries in countries such as India, China, South Korea, and Indonesia is also boosting the demand for the synthetic textile flooring.
- Strict quality control, advanced production technologies, and customer and fashion oriented marketing are attributing to the demand for synthetic textile flooring. Synthetic textile flooring is better solution for hospitals, higher education facilities, and gyms where clean design is important, but heavy wear and tear is likely. Thus, increasing use of synthetic textile flooring in the hospitals and schools is likely to boost the synthetic textile flooring market. Increase in demand of artificial grass in outdoor lawns and sports fields is expected to further drive sales of synthetic textile flooring market during the forecast period.
- Increase in demand for synthetic textile floorings for aesthetic purposes and for noise reduction, echo-proofing in commercial spaces such as office buildings, hotels and restaurants, and theatres and auditoriums is a key factor driving growth of the synthetic textile flooring market. Removal of stains and spillage occurred on synthetic textile flooring is easy as compared to conventional flooring due to which synthetic textile flooring is increasingly adopted in household decoration purposes.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report here
Key Market Segment
- Based on product type, the carpet segment is expected to dominate the global synthetic textile flooring market. Carpet is preferred for various applications in residential and commercial spaces. Carpet synthetic flooring acts as pseudo flooring and is available in various designs and textures.
- In terms of technology, the tufting segment is projected to hold major share of the global synthetic textile flooring, owing to lower manufacturing cost, as well as easy installation and ease of use by consumers
Asia Pacific to Hold Major Share of Global Synthetic Textile Flooring Market
- Asia Pacific is anticipated to constitute the largest share of the global synthetic textile flooring market. In Asia Pacific, supportive government regulations in China and India aimed at promoting investments in their textile manufacturing sectors are expected to fuel the market in the region.
- China is a leading producer and exporter of raw textiles and garments, globally. Asia Pacific accounted for a major share of the global textile market in 2018. The market in the region is anticipated to expand further, owing to the positive outlook toward apparel & garments market in China and India.
- In countries in Asia Pacific, such as China and India, government supports to enhance agricultural yield of cotton, jute, and other fibers which is anticipated to drive the textile market in the region. Expansion in the textile industry is boosting the demand of synthetic textile flooring.
- Growing construction industry in the U.S. is estimated to drive the synthetic textile flooring market. In the U.S., revival of residential construction sector and improvements in infrastructure facilities in developing regions are expected to fuel the demand for synthetic textile floorings.
Expanding operations in future? To get the perfect launch ask for a custom report here
Key Players Operating in the Market:
The synthetic textile flooring market is highly concentrated with top manufacturers accounting for approximately 20% to 25% of the market. Few of the key players operating in the Synthetic Textile Flooring market include:
- MOHAWK INDUSTRIES, INC.
- Shaw Industries Group, Inc.
- Beaulieu International Group
- Interface, Inc.
- Balta Industries NV
- Forbo Corporate
Global Synthetic Textile Flooring Market: Research Scope
Global Synthetic Textile Flooring Market, by Material Type
Global Synthetic Textile Flooring Market, by Product Type
Global Synthetic Textile Flooring Market, by Application
Global Synthetic Textile Flooring Market, by Technology
Global Synthetic Textile Flooring Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.