Dublin, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The "Low-Carbon Flooring Market: Focus on Low-Carbon Flooring Applications and Products - Analysis and Forecast, 2024-2033" report has been added to ResearchAndMarkets.com's offering.
The global low-carbon flooring market was valued at $65.74 billion in 2023, and it is expected to grow at a CAGR of 8.57% and reach $150.30 billion by 2033.
The low-carbon flooring market is thriving due to increasing environmental awareness and stringent government regulations mandating sustainable construction materials. Consumers and companies alike are prioritizing eco-friendly solutions to reduce their carbon footprint, aligning with corporate sustainability goals.
Technological advancements have made low-carbon flooring more accessible and cost-effective, further driving adoption. The demand is also fueled by the popularity of green building certifications, such as LEED, and a growing preference for healthier indoor environments. Additionally, rising investment in green construction projects across residential and commercial sectors is propelling the market's growth.
The low-carbon flooring market is an emerging sector within the broader building and construction industry, driven by the increasing demand for sustainable and environmentally friendly materials. This market focuses on flooring products designed and manufactured to minimize carbon emissions throughout their lifecycle from raw material extraction to production, installation, and disposal. Low-carbon flooring options include materials such as bamboo, cork, recycled wood, linoleum, and other innovative solutions that offer reduced environmental impact compared to traditional flooring materials.
North America is leading the low-carbon flooring market, driven by strong investments in sustainable technologies and practices. A significant instance of this is Milliken & Company's investment in Orak, a carpet maintenance and flooring reuse company, announced on October 27, 2023. This partnership aims to advance the circular economy in the flooring industry by providing access to upcycled carpet tiles, aligning with Milliken's N/XT Life circularity program.
Additionally, North America benefits from supportive government policies and increasing consumer demand for ecofriendly products. This region's focus on research and development, along with collaborations between major industry players, enhances its ability to innovate and adopt sustainable practices. These factors collectively solidify North America's leadership position in the global low-carbon flooring market.
Consumer Demand for Sustainable Products
Consumer demand for sustainable products is a significant driver of the low-carbon flooring market. Innovations such as Kingspan Group's RMG600+ floor panel, launched on April 5, 2023, and Zena Forest Products' Edge Grain wood flooring, introduced on May 10, 2024, illustrate how consumer preferences for eco-friendly solutions propel companies toward developing sustainable products. Kingspan Group's RMG600+ panel addresses embodied carbon emissions, while Zena's Edge Grain wood flooring utilizes locally sourced hardwood and avoids glue, enhancing durability and ecological balance.
Additionally, Crossville's Stone Fiction porcelain tile collection, launched on June 26, 2022, provides a sustainable alternative to natural travertine. This collection combines the aesthetic appeal of travertine with the benefits of low maintenance and durability in porcelain tile. These developments highlight a clear market trend toward sustainable and low-carbon solutions in flooring. Kingspan Group's RMG600+ and Zena Forest Products' Edge Grain wood flooring reflect a growing consumer preference for eco-friendly materials that address carbon emissions and environmental impact.
Similarly, Crossville's Stone Fiction collection demonstrates the industry's shift toward durable alternatives that offer the look of natural materials without their maintenance challenges. These innovations underscore a strong market drive toward sustainability and efficiency in the low-carbon flooring sector.
Market Segmentation
Residential to Lead the Low-Carbon Flooring Market (by End-Use Industry)
The residential application is leading the low-carbon flooring market due to heightened consumer awareness of environmental issues and the growing trend toward sustainable home improvements. Homeowners increasingly prioritize eco-friendly products that contribute to healthier living spaces and lower carbon footprints. Low-carbon flooring options such as bamboo, cork, and recycled materials offer both aesthetic appeal and practical benefits, including durability and ease of maintenance.
Wood Material to Lead the Low-Carbon Flooring Market (by Material Type)
The wood material is leading the low-carbon flooring market due to its natural, renewable qualities and strong appeal for both aesthetics and durability. For instance, in May 2024, Zena Forest Products introduced its Edge Grain wood flooring, which features locally sourced hardwood and advanced manufacturing techniques. This trend is supported by wood's ability to blend with various interior designs, offering both practical benefits and aesthetic appeal.
Carpet Design to Lead the Low-Carbon Flooring Market (by Design Type)
Carpet design type is leading the market due to its adaptability, ease of installation, and low maintenance requirements. Carpet tiles, which can be individually replaced or rearranged, offer design and functionality flexibility for residential and commercial spaces. This design versatility allows for creative and customized flooring solutions that can be easily updated or repaired.
Virgin products to Lead the Low-Carbon Flooring Market (by Type)
Virgin products are leading the flooring market due to their high quality, durability, and consistent performance. Made from new, unused raw materials, virgin products ensure superior strength and reliability compared to recycled alternatives, which can sometimes have compromised properties. These products often offer enhanced aesthetics and better longevity, making them a preferred choice for both residential and commercial applications.
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different applications and products of low-carbon flooring market. The market is poised for significant expansion with ongoing technological advancements, increased investments, and growing awareness of the importance of low-carbon flooring. Therefore, the low-carbon flooring business is a high-investment and high-revenue generating model.
Growth/Marketing Strategy: The low-carbon flooring market has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include product development.
Competitive Strategy: The key players in the low-carbon flooring market analyzed and profiled in the study include professionals with expertise in the flooring industry. Additionally, a comprehensive competitive landscape such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 185 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value (USD) in 2024 | $71.7 Billion |
| Forecasted Market Value (USD) by 2033 | $150.3 Billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
Market Dynamics Overview
Market Drivers
- Consumer Demand for Sustainable Products
- Corporate Sustainability Initiatives
Trends: Current and Future Impact Assessment
- Trend: Overview
- Construction Industry Overview
- Embodied Carbon Reduction Efforts
Market Restraints
- Supply Chain Challenges
Market Opportunities
- Innovation in Materials and Designs
- Integration with Smart Home Technologies
Supply Chain Overview
- Value Chain Analysis
- Pricing Forecast
Research and Development Review
- Patent Filing Trend (by Country, Company)
Regulatory Landscape
- Country-Specific Flooring Standards
- ASTM Standards and Specifications
- Impact of UN SDG Adoptions on the Construction Industry
Stakeholder Analysis
- Case Study
- Elevating Summit House with Classic Oak Flooring
- Transforming Headquarters with High-Performance Tiles
- End User and Buying Criteria
Key Market Players and Competition Synopsis
- Tarkett
- Interface, Inc.
- Forbo Group
- MOHAWK INDUSTRIES, INC.
- Shaw Industries Group, Inc.
- Milliken & Company
- Kingspan Group
- Gerflor
- Amtico International
- UCX
- Parterre Flooring and Surface Systems, LLC
- Beaulieu International Group
- Congoleum
- BUILDSTAR PROJECTS PVT. LIMITED
- Teragren
- Emilceramica S.r.l.
- CLASSEN Group
- NOX CORP.
- CFL Holding Limited
For more information about this report visit https://www.researchandmarkets.com/r/aey55r
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