Flooring Market

Analysis from GMI Research finds that the Flooring Market earned revenues of USD 257.0 billion in 2021 and forecast to touch USD 403.5 billion in 2029 will grow at a CAGR 5.8%.

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Key Drivers

Strong economic and industrial expansion, increasing urbanization and accelerating population are forecast to augment the global flooring market over the forthcoming years. The growing demand for exquisite designs, colors, textures, and low-maintenance and easy to install floorings have bolstered the market growth. In addition, rising investment and increasing expenditure on research and development in flooring products by leading players have led the introduction of durable and strong flooring materials, driving the market growth. Moreover, as per the flooring market research, the increasing emphasis towards home decor and the trend of spending on home furnishings such as carpets, rugs, and other floor coverings will strengthen the market growth. A significant surge in the spending on infrastructural development and the need for enhanced comfort and privacy owing to noisier surroundings has stimulated the demand for well-insulated floor creates which will expand the market share.

Other factors which include the rapid industrialization, increasing investments in the construction industry, rising renovation & remodeling activities, and the expansion of organized retail sector are projected to bolster the market growth. Further, the launch of hassle-free installation techniques, availability of advanced construction solutions, and the growing demand for environment friendly products will positively impact the market growth. However, the growing environmental concerns and fluctuations in the raw material prices will impede the flooring market size.

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Material – Segment Analysis

Based on material, the resilient flooring segment is expected to increase at a higher CAGR during the forecast period owing to the strong demand for this type of flooring material across the residential and commercial buildings. In addition to this, the resilient flooring material offers exceptional advantages as compared to the non-resilient materials, such as enhanced electricity, durability along with cost-effective, easy maintenance, and its ability to adapt in almost any décor, which will attract many customers to the market.

End-Use Industry – Segment Analysis

Based on the end-use industry, the residential segment is anticipated to grow at a higher compound annual growth rate over the forecast period due to an increase in the adoption of flooring in this end-use industry as a result of rising government investments in the residential projects. An increase in the population across developing economies and rising disposable income will further complement the growth of the segment I the market.

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Regional – Segment Analysis

Based on the region, the Asia-Pacific region is projected to dominate the market over the forecast period. The rising adoption of the flooring across several countries like India and China owing to the strong consumer demand for enhanced designs and varying products is the key factor boosting the demand of the market in this region. Furthermore, the increasing population and rapid urbanization is leading to a rise in the development of infrastructure across the residential & commercial areas are some other factors driving the growth of the flooring market in this region.

Top Market Players

Various notable players operating in the market include Shaw Industries Group, Inc.,Mohawk Industries, Inc., AFI Licensing LLC, Tarkett, Gerflor, Forbo,Beaulieu International Group, Interface, Inc., Milliken & Company, and TOLI Corporation, among others.

Key Developments:

• • In 2021 – Armstrong Flooring introduced luxury flooring collections Exchange and Theorem, which are manufactured in the USA and feature a 2.5 mm structure with a 20-mil wear layer and patented Diamond 10 Technology to support category-leading scratch, stain, and scuff performance.
  • In 2020 – Mannington launched the latest sheet vinyl patterns, Miramar, featuring the Glam/Luxe trend in an exclusive diamond geometric design with subtle veining and soft color variation.
  • In 2019,Shaw Industries Group, Inc. launched a soft floor cover known as COMFOR3T for the people at Green build 2019 in Atlanta. This floor cover is soft underfoot when compared with the typical expo carpet products and is utilized to service the U.S trade show market.
  • In 2019, Tarkett entered into a strategic collaboration with DYNAMIK, which is a specialist of the sports floor. Through this collaboration, both the companies serve the UK and Ireland market with their solutions & services and assist the education & sports facilities in developing the best-informed choices when considering the playing surfaces.

Segments covered in the Report:

The global flooring market has been segmented on the basis of material,end-use industry, andregion. Based on the material, the market is segmented into non-resilient flooring, soft floor covering/carpets &rugs, and resilient flooring. The non-resilient flooring segment is further categorized into wood, ceramic tiles, stone, laminate, and others. The resilient flooring segment is further categorized into vinyl and others. Based on the end-use industry, the market is segmented into non-residential and residential.

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Key questions answered in this research report:

• • At what pace is the global flooring market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global flooring market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global flooring market?
  • Which material generated maximum revenues in 2021 and identify the most promising material during the forecast period?
  • What are the various end-use industries of the flooring, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 257.0 Billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Material, By End-Use Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Shaw Industries Group, Inc.,Mohawk Industries, Inc., AFI Licensing LLC, Tarkett, Gerflor, Forbo,Beaulieu International Group, Interface, Inc., Milliken & Company, and TOLI Corporation, among others; a total of 10 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Flooring Market by Material

• • Non-Resilient Flooring
    • Wood
    • Ceramic Tiles
    • Stone
    • Laminate
    • Others
  • Soft Floor Covering/Carpets & Rugs
  • Resilient Flooring
    • Vinyl
    • Others

Global Flooring Market by End-Use Industry

• • Non-Residential
  • Residential

Global Flooring Market by Region

• • North America Flooring Market (Option 1: As a part of the free 25% customization)

• • • By Material
    • By End-Use Industry
    • US Market All-Up
    • Canada Market All-Up

• • Europe Flooring Market (Option 2: As a part of the free 25% Customization)

• • • By Material
    • By End-Use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

• • Asia-Pacific Flooring Market (Option 3: As a part of the free 25% Customization)

• • • By Material
    • By End-Use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APACF Market All-Up

• • RoW Flooring Market (Option 4: As a part of the free 25% Customization)

• • • By Material
    • By End-Use Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Flooring Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Flooring Leading Market Players(Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Shaw Industries Group, Inc.
  • Mohawk Industries, Inc.
  • AFI Licensing LLC
  • Tarkett
  • Gerflor
  • Forbo
  • Beaulieu International Group
  • Interface, Inc.
  • Milliken & Company
  • TOLI Corporation