Global Flooring Market Research Report - Forecast to 2027

Flooring Market Information by Material (Carpets, Tiles, Vinyl & Rubber, Wood & Other), by Type (Soft covering, Resilient, Non-resilient & others), Application (Healthcare, Education, Hospitality, Retail and Sports) and by Region - Forecast to 2027

ID: MRFR/CO/1887-HCR | February 2021 | Region: Global | 140 pages

Flooring Market Overview

It is expected that the global flooring market is expected to acquire USD 252.0 billion with a CAGR of 4.1% during the forecast period of 2021 to 2026. The growth in the trend of investing money on architectural beauty and on interior furnishings which beautify the house. The rise in housing units is driving the business. Flooring is better used in kitchenware, entrance and in dining and drawing, washrooms, and bedrooms. An increase in industrial trend activities and a rise in construction activities raise the demand. The rise in the use of the infrastructure with the increase in product demand gave a good scenario of the market. Flooring activities are achieving high demand as the people are spending their earned money for furnishing the floor to make it look beautiful.

COVID 19 Analysis

The outbreak of the pandemic has led to the minimization of global market revenue and has brought challenging factors to the commercial and residential industry. The government’s strict regulations have led to the slow manufacturing and availability of raw materials thus making the global flooring industry face economic disruption. The supply chain of the construction flooring industry deteriorated and led to the shortening and termination of materials which managed the global market revenue which minimized the expansion from 2021 to 2026. The manufacturing operations were halted during this pandemic in multiple regions.

Competitive Landscape

Some of the competitors operating in the environment have planned some clever strategies and by taking the help of advanced technology. Some of the key players are Shaw Industries Group Inc., Tarkett S.A., Gerflor Group of France, LG Hausys Ltd present in Korea, Flowcrete Group Ltd in the United Kingdom, Polyflor Inc of United Kingdom, Forbo Holding A.G of Switzerland, Floorworld LLC of Dubai, Mohawk Industries Inc., of the United States and Mannington Mills Inc. of United States. These companies very much focus on renovating and use in home improvement.

Market Dynamics

  • Drivers- Increasing demand for flooring in residential sectors drives the market significantly. The use of hard flooring expands the flooring business because hard flooring has more attractive properties and increases ease. The flooring materials are used in both remodelings and in renovation projects which steers up the global market sizeAn increase in government funding more on the manufacturing of the flooring materials has bolstered up the market growth. Flooring gives an ideal feeling to oneself. Floorings are made up of durable materials like ceramic and hardwood which increases its demand for using them for residential purposes.

  • Opportunities- lucrative opportunities rise with use in good quality. Floorings avoid spillings from floorings which raises its demand. An increase in discretionary income has an influential opportunity for the expansion of business. An increase in public-private relationships enhances product demand. The rise in the growth of ultra-modern activities raises the demand.

  • Challenges- carpeting, vinyl flooring requires harmful chemicals which brings a negative impact on the flooring market. These harmful chemicals used for flooring deteriorated the indoor environment thus becoming a challenging factor for the market size. Vinyl being the synthetic petroleum chemical that is synthesized from pesticides, insecticides, and other toxic chemicals if in case used causes various health hazards to people. Another most challenging factor is the production of ceramic tile, which has made the environment more harmful.

  • Cumulative growth- use of ceramic tiles due to their durability nature has an influential growth on the industry. An increase in the growth of industrialization, urbanization, and population acts as a cumulative growth for the market increasing the global flooring market value and global market revenue.

  • Restraints- no proper disposal of flooring waste will hamper the market sizeImproper installations and bad replacement procedures. Presence of slippery tile act as a restraining factor for growth. The use of volatile raw material costs harms size. Enhancement of bad health and unhygienic environmental concerns hampers the expansion.

Market Segmentation

  • Bt type- the flooring market is divided based on raw materials like stone, ceramic, sheets made up of vinyl, hardwood, decorative tiles, etc. the above constitute the hard flooring while the soft flooring includes carpets, mats, rugs many more whereas the resilient material flooring constitutes of Asphalt flooring, Linoleum, tiles of vinyl composite and fiberglass. Based on end-users, the market is divided into residential sectors which include private dwellings, apartments, and row houses and the commercial sector includes hotels, offices, medicals, and clinics. Geographically the region is segmented into North America, European region, Asia Pacific region, and North Korea regions. The ceramic segment occupies a huge area of the market while the vinyl segment grows at a high CAGR.

  • By technology- advancement if technology made the materials stain and water-resistant. With the help of technology, the researchers have given aesthetic design to these raw materials and have so designed that it is being protected from high temperatures and harmful chemicals. Advanced material is used to act as noise absorbers as well as temperature absorbers which increases the safety of the people.

Regional Analysis

Due to the advanced infrastructural growth marked in the Asia Pacific region, this region is marked to cover the most dominant global flooring market share. The favorable laws made by the government along with the rising growth of population makes the region popular for which its global flooring market value increases. Hard flooring became most dominant in this region because it is of great quality as the vinyl sheet and tiles prevent scratching and slip resistance. The European region plays a dominant role as it invests high sums in renovation and remodeling activities.

Recent Developments

  • In February 2021, the most renounceable company, Mahindra Life space Developers took the new project of residential sectors. Huge initiatives were taken by the government where his investment was made use for the construction of the airport.

  • In the year March 2020, TOLI made a partnership with a corporate company, where high-quality vinyl floor tile was both manufactured and was on sale in Taiwan and China.

  • In the year of July 2020, Gerflor Flooring developed new extraordinary flooring tiles. Advanced technology was marked which showed antiviral floorings where the tile was protected from viruses and bacteria.

  • In February 2020, Armstrong floored innovative floors which include Exchange and Theorem.

  • In 2016 December, Shaw industries used the floor tiles of the United Kingdom. It helped in the expansion of the market and enhanced the luxury of the market. It enhanced the product business by using composite flooring

Report Overview

The report summarises the in-depth assessment of the market segmentation and gives a clear view of the market scenario. It summarises the market structure during the forecast period. It gives a detailed analysis of the market segmentation and the major factors that act as the driving force which helps in expanding the size and growth. It gives insights into the flooring market revenue and provides detailed information about the supply chain analysis and the regional division taking place in the global flooring industry. It gives information about the competitors playing in the market and their core competencies which help in drawing the competitive landscape of the market. It gives a good analysis of the recent developments and discovery of new products. The report describes the complete scenario of the volume and the global flooring market value and the economic growth of the global flooring market. It gives deeper insights into the qualitative and quantitative aspects of the market.

Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 252.0 Billion
  CAGR   4.1% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Material, Type, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Gerflor Group (France), LG Hausys, Ltd. (Korea), Flowcrete Group Ltd. (U.K), Polyfloor Inc. (U.K.), Forbo Holding AG. (Switzerland), Tarkett Company (France), Floorworld LLC (Dubai), Mohawk Industries Inc. (U.S.), Shaw Industries, Inc. (U.S.) and Mannington Mills Inc. (U.S.)
  Key Market Opportunities   Rapid growth in industrialization and urbanization
  Key Market Drivers

  • Rapid growth in construction industry across the globe
  • Rise in home improvement and renovation projects

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    Frequently Asked Questions (FAQ) :

    Major materials used in the flooring market include vinyl and rubber, carpets, tiles, wood, and others.

    Global flooring market is expected to exhibit a strong 4.1% CAGR over the forecast period till 2022.

    The growing construction industry is the major driver for the flooring market.

    Asia Pacific is likely to dominate the global flooring market over the forecast period.

    Leading players in the global flooring market include LG Hausys, Gerflor Group, and Polyfloor Inc., among others.