London, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Flooring accounts for nearly 10% of the overall building and construction project costs and represents a multi-billion-dollar global industry. Higher concentration of population across urban areas continues to generate growing need for residential and modern housing infrastructure. While offers a significant thrust to global building and construction industry, it also drives the growth of individual industry sectors as well, including flooring. Global flooring market is expected to demonstrate a strong 6.9% CAGR during 2021 – 2025, reaching an estimated revenue of US$285.5 Bn toward the end of 2025. A new Fairfield Market Research report reveals how the market has picked up post-COVID-19 pandemic and how the growth outlook looks like for the next few years.
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Key Research Insights
- Residential sector remains the dominant revenue contributor with more than 50% market share
- Sales of ceramic tiles dominant and account for over 60% share in global flooring market valuation
- Vinyl flooring is expected to
Insights into Segmental Analysis
The report shows that resilient flooring continues to receive notable demand from commercial, as well as residential construction sectors. Resilient flooring types remain sustained on the back of their inexpensive price point, endurance, and lasting lifespan. Non-resilient floors on the other hand will emerge as the significant revenue generating segments in flooring market. While ceramic tiles represent the top-selling category that accounted for over 60% market share in the year 2019, the trend will continue throughout the forecast period. Over the years, the popularity of vinyl flooring has been on the rise and will grow strong through the end of 2025 with mounting consumer preference for vinyl, rubber flooring, luxury vinyl tiles, and linoleum flooring. This segment is projected to witness healthy 7% growth over the stipulated period. The surge in market attractiveness of this segment is clearly attributable to the economic viability. The report further provides analysis of the key end-use sectors that uncovers continued dominance of residential sector. With more than half the total market valuation, demand for flooring solutions across residential sector is expected to proliferate at the fastest rate, especially for a growing number of redevelopments, and refurbishment and renovation projects.
Key Report Highlights
- Flooring market reaps the maximum benefit from unprecedented expansion of residential/housing sector
- Resilient flooring categories will continue to surge ahead banking on notable demand from both the residential, and commercial sectors
- North America’s flooring market sustains on the back of a stable market for rugs, and carpets
Insights into Regional Analysis
In line with sound urban developments, and rampant expansion of residential sector, Asia Pacific remains the dominant market for flooring companies. Led by the fast-developing economies of China, India, Vietnam, Malaysia, and Indonesia, Asia Pacific is projected to remain dominant with more than 44% market share in flooring space. The expanding affluent population across the Asian subcontinent showcasing inclination for modern home construction and interior designing is likely to be the prime factor pushing growth prospects of flooring market here. Industrial construction projects, and strong pace of urbanization further foster the growth potential of flooring market, especially across some of the Middle Eastern, and African markets. On the other hand, flooring market in North America is likely to continue its ride on the distinct consumer preferences, including rugs, and carpets.
Flooring Market Competition Analysis
Armstrong Flooring Inc., Marazzi Group, Tarkett, Mohawk Industries, Amtico, Shaw Industries Group, Inc, Beaulieu lnternational Group N.V., Tarkett S.A., Forbo Holding AG, Interface Inc., Gerflor SAS, Grupo Lamosa, Mannington Mills Inc., RAK Ceramics P.J.S.C, Balta Industries N.V., and Kajaria Ceramics, and Pamesa Ceramica
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2020 | |
| Forecast Year | 2021 – 2025 | |
| Market Size in 2017 | US$208.8 Bn | |
| Estimated Market Size in 2025 | US$285.5 Bn | |
| CAGR | 6.9% | |
| Key Players | Shaw Industries Group, Inc, Mohawk Industries, Beaulieu lnternational Group N.V., Tarkett S.A., Forbo Holding AG, Interface Inc., Gerflor SAS, Grupo Lamosa, Mannington Mills Inc., RAK Ceramics P.J.S.C, Balta Industries N.V., Armstrong Flooring, and Kajaria Ceramics, and Pamesa Ceramica | |
Market Segmentation
Product Coverage
- Ceramic Tiles
- Carpets & Rugs
- Vinyl Tiles, Linoleum and Rubber
- Wood & Laminate
- Misc. (Slate, Marble, Concrete, etc.)
Application Coverage
- Residential
- Commercial
- Industrial
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- Mohawk Industries
- Shaw Industries Group, Inc.
- Tarkett S.A.
- Beaulieu lnternational Group N.V.
- Forbo Holding AG
- Interface Inc.
- Gerflor SAS
- Grupo Lamosa
- RAK Ceramics P.J.S.C
- Mannington Mills Inc.
- Balta Industries N.V.
- Armstrong Flooring
- Pamesa Ceramica
- Kajaria Ceramics
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Product-wise Analysis
- Application-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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