Dublin, April 26, 2023 (GLOBE NEWSWIRE) -- The "Flooring: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Flooring Market to Reach $623.8 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Flooring estimated at US$400.3 Billion in the year 2022, is projected to reach a revised size of US$623.8 Billion by 2030, growing at a CAGR of 5.7% over the analysis period 2022-2030.
Non-Resilient Flooring, one of the segments analyzed in the report, is projected to record a 6.6% CAGR and reach US$295.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Soft Coverings segment is readjusted to a revised 5.3% CAGR for the next 8-year period.
The U.S. Market is Estimated at $105.6 Billion, While China is Forecast to Grow at 9% CAGR
The Flooring market in the U.S. is estimated at US$105.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$147.7 Billion by the year 2030 trailing a CAGR of 9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 4.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$88.2 Billion by the year 2030.
Looking Ahead to 2023
Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 753 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $400.3 Billion |
| Forecasted Market Value (USD) by 2030 | $623.8 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
MARKET OVERVIEW
- Pandemic's Effect on the Flooring Market
- Construction Projects' Backlog Restricts Market Growth
- US Floor Coverings Market Shows Resilience During the Pandemic
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Flooring: An Introduction
- Commercial and Domestic Flooring Common Variants
- Competitive Scenario
- Recent Market Activity
- Select Global Brands
MARKET TRENDS & DRIVERS
- Key Trends Influencing the Growth in Flooring Market
- Vinyl Flooring Demand Grows
- Latest Advancements in the Flooring Industry
- Select Flooring Innovations
- Enhanced Standard of Living and Swift Urbanization to Boost the Flooring Market Growth
- Recovery in Global Construction Sector to Post Gains in Long Term
- Trends in the Construction Industry Influence Market Uptake
- Increased Activities of Remodeling and Renovation to Propel the Growth
- Flooring Market Growth Drivers in the Residential Sector
- Preference for Multistory Buildings to Pep up Flooring Products' Demand
- Spurred On by Rising Healthcare Burden, Hospitals Emerge as Important End-Use Sector
- Rise in Sales of Hospital Beds in Parallel to Bed Expansion in Hospitals Worldwide Brings Good News for Flooring Products
- Cautious Recovery of the Travel, Hospitality/Hotel Industry in 2022 & Beyond Bodes Well for Market Growth
- E-Commerce Growth Presents Opportunities for Flooring Market
- Favorable Demographic & Socio-Economic Trends Strengthen Market Prospects
- Rapid Growth in Urban Households
- Growing Affluence of Middle Class Consumer Segment
- Rising Living Standards
- Growing Smart Homes Catalyze Demand for Flooring Products
- Key Challenges Restraining the Market Growth
- Environmental Concerns
- Flooring Retailers See Strong Demand Coming in Years to Come
FOCUS ON SELECT PLAYERS(Total 271 Featured)
- Armstrong Flooring
- Beaulieu International Group
- Boral Limited
- Congoleum Corporation
- Dixie Group, Inc.
- Floorworld LLC
- Flowcrete Group Ltd
- Forbo Holding A.G
- Gerflor
- Interface, Inc.
- J&J Flooring Group LLC
- James Hallstead Plc
- LG Hausys Ltd
- Mannington Mills Inc.
- Milliken & Company.
- Mohawk Industries, Inc.
- Polyflor Canada Inc.
- Shaw Industries Group Inc.
- Swiss Krono Tec AG
- Tarkett S.A.
- TOLI Corporation
For more information about this report visit https://www.researchandmarkets.com/r/bqq98
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