Pune, India, May 19, 2023 (GLOBE NEWSWIRE) -- The global flooring industry share was USD 342.88 billion in 2020. The flooring market is projected to grow from USD 359.20 billion in 2021 to USD 517.74 billion by 2028 at a CAGR of 5.4% during the 2021-2028 period. This information is presented by Fortune Business Insights™, in its report, titled, “Flooring Market, 2021-2028.”
Flooring refers to the material or covering used to provide a walking surface in buildings. The flooring industry encompasses all aspects related to the manufacturing, distribution, installation, and maintenance of flooring materials. It is a significant sector within the construction and interior design industries. The industry caters to residential, commercial, and industrial markets, offering a wide range of flooring options to suit different needs and preferences.
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List of Key Players Covered in the Flooring Market Report are:
- Mohawk Industries, Inc. (U.S.)
- Shaw Industries Group, Inc. (U.S.)
- TARKETT S.A. (France)
- Armstrong Flooring, Inc. (U.S.)
- Forbo Flooring Systems (Netherlands)
- Gerflor (France)
- Interface, Inc. (U.S.)
- Beaulieu International Group (Belgium)
- Toli Corporation (Japan)
- Milliken & Company (U.S.)
- Congoleum (U.S.)
- Flowcrete (U.K.)
- James Halstead (U.K.)
- The Dixie Group (U.S.)
- Victoria PLC (U.K.)
- Mannington Mills, Inc. (U.S.)
- Balta Industries (Belgium)
- Swiss Krono (Switzerland)
- LG Hausys (South Korea)
- Parador (Germany)
- Invista (U.S.)
- Boa-Franc (Canada)
- Kajaria Ceramics (India)
- Engineered Floors (U.S.)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 5.4% |
| 2028 Value Projection | USD 517.74 billion |
| Market Size in 2021 | USD 359.20 billion |
| Historical Data | 2017-2019 |
| No. of Pages | 350 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
|
| Flooring Market Growth Drivers | Surging Demand for Vinyl Flooring in Construction Projects to Fuel Market Growth |
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Segmentation
On the base of type, the flooring market is distributed intonon-resilient, flexible, and carpets & hairpieces.
Grounded on end- use, the request is insulated into domestic andnon-residential. The domestic member is the dominating contributor for the growth of this request. The growth in domestic member is accredited to the growing population and disposable income of the consumers.
Geographically, the flooring industry is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Geographic Segment Analysed in the Report:
- North America (USA and Canada)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
Report Coverage
We give our reports which are conducted with an each- inclusive examination approach that majorly emphasizes on delivering precise material. Our scholars have applied a data triangulation system which further assists us to offer secure estimations and test the general request dynamics directly. Further, our judges have entered admission to multitudinous transnational as well as indigenous funded registers for furnishing the up- to- date material so that the stakeholders and business professionals invest only in essential zones.
COVID-19 Impact
Terminated Construction Ventures during Pandemic to Obstruct Flooring Market
The epidemic has negatively told the construction assiduity across the globe. The limitations in transportation of coffers led to the failure of raw accoutrements. also, the lockdown morals and guidelines restrained the suppliers and manufacturers to reuse their construction accomplishments. This redounded in the interruptions in the novel and prevailing construction developments.
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Drivers and Restraints
Surging Demand for Vinyl Flooring in Construction Projects to Fuel Flooring Market Growth
Vinyl is used as a protean element in tiling operations, where, luxury vinyl pipe is used majorly. It's flexible to earth, moistness, and fungus, which makes it an applicable flooring option for application where stuffiness and occasional tumbles are the high enterprises.
It can be painlessly installed, is robust, and accessible at a cheaper cost, which likewise adds to its adding admiration in the variety of domestic as well asnon-residential structures. This is anticipated to bolster the flooring request growth during the cast period.
Regional Insights
Asia Pacific was worth USD180.38 billion in 2020. Asia Pacific is the biggest and speediest- surging region and held the maximum flooring request share owing to large scale backing listed by governments of India, China, and Southeast Asia on structure expansion.
Europe is likely to be administered by the application of pottery and vinyl innon-residential structures.
The flooring industry in the Middle East & Africa is in the growth phase of its life cycle, owing to growing demand for bottom coverings from multitudinous large- sized construction developments, and thus, is anticipated to gain substantial request share during the cast period.
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Competitive Landscape
Procurements Initiated by Key Players to Amplify its Spot in Market
Prominent players initiate Politic juggernauts to thrust their position as principal players in the request. Their effective strategies involve accessions, combinations, collaborations as well as launching products among numerous others.
Detailed 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
- Qualitative Insights – Impact of COVID-19 on Global Flooring Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Flooring Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- By Type (Volume/Value)
- Non-Resilient
- Ceramic
- Wood
- Laminate
- Others
- Resilient
- Vinyl
- Others
- Carpets & Rugs
- Tufted
- Woven
- Others
- Non-Resilient
- By End-Use (Volume/Value)
- Residential
- Non-Residential
- By Region (Volume/Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
TOC Continued…!
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Industry Development
February 2021: Forbo created a novel auditory assortment that unites the well-known Sarlon acoustic vinyl variety of the company and award-winning Modul’up adhesive-free solutions. This freshly launched collection is estimated to be the point of reference for any development where impact sound is required to be diminished.
Read Related Insights:
Vinyl Flooring Market to Reach USD 51.45 Billion by 2028 | Stoked by Increasing Demand from Healthcare Sector; Says Fortune Business Insights™
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