Pune, India, Nov. 15, 2021 (GLOBE NEWSWIRE) -- According to research report published by Fortune Business Insights™, the global flooring Industry 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 new 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. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
Key Players Assessment in this Research:
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in this market
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
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List of Key Players Covered in this Market Report:
• Milliken & Company
• Beaulieu International
• Armstrong Flooring
• Shaw Industries Group, Inc.
• Toli Corporation
• Interface
• Forbo
• TARKETT
• Mohawk Industries
• Nora Systems
• Boa-Franc
• Parador
• Engineered Floors
• Kajaria Ceramics
• Invista
• LG Hausys
• Balta Industries
• Victoria PLC
• James Halstead
• Congoleum
• Mannington Mills
• The Dixie Group
• Flowcrete
Market Driver
Growing Preference for Vinyl Flooring to Fuel the Market
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. Vinyl flooring solutions are becoming increasingly among homeowners as well as commercial occupants, which is fueling this market growth. 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.
BROWSE SUMMARY OF THIS RESEARCH REPORT:
https://www.fortunebusinessinsights.com/flooring-market-102740
The report states that the flooring market value stood at USD 355.17 billion in 2018. The other highlights of the report include:
- Comprehensive assessment of the market segments; and
- Careful analysis of the regional developments and competitive dynamics of the market.
- Thorough research into the factors driving the market growth;
- In-depth study of the factors restraining the market;
Regional Insights
Asia-Pacific to Hold Commanding Market Position; Europe to Present Lucrative Opportunities
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 development. 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 market prospects.
Competitive Landscape
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.
Key Industry Developments:
- 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 eco-friendlier.
- November 2019: Shaw 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.
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Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Global Flooring Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Non-Resilient
- Ceramic
- Wood
- Laminate
- Others
- Resilient
- Vinyl
- Others
- Carpets & Rugs
- Tufted
- Woven
- Others
- Non-Resilient
- Market Analysis, Insights and Forecast – By End-Use
- Residential
- Non-Residential
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- South America
- Middle East & Africa
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