ID: MRFR/CO/1887-HCR | February 2021 | Region: Global | 140 pages
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.
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.
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.
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.
|Market Size||2027: USD 252.0 Billion|
|CAGR||4.1% CAGR (2020-2027)|
|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||
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.