Global Flooring Market Analysis –Trends, Insights & Forecasts (2023-2028)

  • Publish Date
    September 25, 2023
  • No of Pages
    345
  • SKU Code
    GIR 7918
  • Format

Report Overview

  • Understand the latest market trends and future growth opportunities for the Flooring industry globally with research from the Global Industry Reports team of in-country analysts – experts by industry and geographic specialization.
  • Key trends are clearly and succinctly summarized alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight, and confident growth projections.
  • The report will cover the overall analysis and insights in relation to the size and growth rate of the “Flooring Market” by various segments at a global and regional level for the 2010-2028 period, with 2010-2021 as historical data, 2022 as a base year, 2023 as an estimated year and 2023-2028 as forecast period.

Description:

  • GIR Research predicts that the flooring market will experience significant growth during the forecast period. The market is expected to expand from USD 331.9 billion in 2023 to USD 510.7 billion by 2028, with a compound annual growth rate (CAGR) of 9.0%. This growth is primarily attributed to the construction and infrastructure development sectors, as the demand for flooring materials is closely linked to these activities. The construction and renovation of residential, commercial, and industrial buildings necessitate the use of flooring solutions. Additionally, infrastructure projects such as transportation systems, airports, and public spaces also contribute to the increased demand for flooring materials.

Flooring Market Analysis 2023

Market Drivers:

The flooring market is driven by several factors, including the rise in population, rapid urbanization, and increased investment in the construction industry. As the population grows, there is a greater need for housing, which in turn drives the demand for flooring materials in residential construction projects. Whether it’s the construction of new housing developments or renovations, the flooring market experiences growth due to the increased demand for various types of flooring products. Moreover, urbanization results in the construction of infrastructure such as roads, bridges, airports, railway stations, and public spaces, all of which require flooring materials. This surge in construction activity in urban areas further contributes to the expansion of the flooring market.

Market Restraints:

The flooring market faces a significant challenge due to the volatility of raw material prices. Fluctuations in the prices of key raw materials, such as wood, vinyl, carpet fibers, ceramics, or resins, can have a direct impact on the profitability and competitiveness of flooring companies. When the prices of these raw materials rise, manufacturers experience higher production costs, which can lead to increased prices for finished flooring products. As a result, consumer demand may be affected, and the market competitiveness of flooring companies can be compromised. The uncertainty and unpredictability of raw material prices pose a restraint for the flooring market.

Market Opportunity:

The flooring market benefits from the rising demand in emerging economies, which offer substantial opportunities. Factors such as rapid urbanization, a growing middle class, infrastructure development, renovation and modernization needs, increasing consumer awareness, and a flourishing tourism and hospitality industry contribute to the surge in demand for flooring materials. These favorable conditions create a conducive market environment for manufacturers and suppliers. By capitalizing on these opportunities, flooring businesses can establish a robust presence and drive growth in emerging markets.

Flooring Market 2023:

  • During the forecast period, resilient flooring materials, including vinyl, linoleum, and rubber, demonstrated the highest compound annual growth rate (CAGR) among different flooring materials. These materials are sought after for their exceptional durability, withstanding heavy foot traffic, resisting scratches, stains, and dents, and maintaining their appearance over time. Consumers are attracted to these flooring options due to their longevity, low maintenance requirements, and limited need for replacement.
  • In terms of end-use industry, the non-residential sector exhibited the highest CAGR during the forecast period. This growth is primarily driven by rapid urbanization and industrialization. The construction of commercial buildings and infrastructure projects such as offices, hotels, hospitals, airports, and public spaces has increased the demand for visually appealing and durable flooring solutions. Moreover, government and private investments in infrastructure development further contribute to the expansion of the non-residential flooring market.
  • The Asia Pacific region is projected to account for the highest CAGR in the flooring market during the forecast period. This region is experiencing rapid urbanization, accompanied by a significant rural-to-urban population shift. Consequently, there has been a surge in construction projects across residential, commercial, and industrial sectors. The expanding urban areas in countries like China, India, and Southeast Asian nations have led to increased demand for flooring solutions. These countries are also witnessing robust economic growth, resulting in higher consumer purchasing power and infrastructure investments. As living standards and disposable income improve, the demand for high-quality flooring products and materials continues to rise in the Asia Pacific region.

MARKET DATA INCLUDED

  • Unit SalesAverage Selling PricesMarket Size & Growth Trends
  • COVID-19 Impact and Global Recession Analysis
  • Analysis of US inflation reduction act 2022
  • 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
  • Market Drivers & Limiters
  • Market Forecasts Until 2028, and Historical Data to 2015
  • Recent Mergers & Acquisitions
  • Company Profiles and Product Portfolios
  • Leading Competitors

The Report Includes:

  • The report provides a deep dive into details of the industry including definitions, classifications, and industry chain structure.
  • Analysis of key supply-side and demand trends.
  • Detailed segmentation of international and local products.
  • Historic volume and value sizes, company, and brand market shares.
  • Five-year forecasts of market trends and market growth.
  • Robust and transparent research methodology conducted in-country.
  • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors.
  • Provision of market value (USD Billion) data for each segment and sub-segment.
  • Analysis by geography, region, Country, and its states.
  • A brief overview of the commercial potential of products, technologies, and applications.
  • Company profiles of leading market participants dealing in products category.
  • Description of properties and manufacturing processes.
  • Marketed segments on the basis of type, application, end users, region, and others.
  • Discussion of the current state, setbacks, innovations, and future needs of the market.
  • Examination of the market by application and by product sizes; utility-scale, medium scale and small-scale.
  • Country-specific data and analysis for the United States, Russia, China, Germany, United Kingdom, France, Japan, Israel, Saudi Arabia, South Korea, United Arab Emirates, Canada, Switzerland, Australia, India, Italy, Turkey, Qatar, Sweden, Spain, Belgium, Netherlands, Norway, Singapore, Egypt, Denmark, Austria, Vietnam, Brazil, Argentina, Mexico, South Africa, and others.
  • Coverage of historical overview, key industrial development and regulatory framework.
  • Analysis of competitive developments, such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the market.
  • A look at the opportunities in the market for stakeholders and provide a competitive landscape of the market leaders.

Reports Scope and Segments:

Report Attribute Details
Market size value in 2023 USD 331.9 Billion
Revenue forecast in 2028 USD 510 Billion
Growth Rate CAGR of 9% from 2022 to 2028
Base year for estimation 2022
Historical data 2015 – 2021
Forecast period 2023 – 2028
Quantitative units Revenue in USD million and CAGR from 2022 to 2028
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, trends, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

COVID-19 Impact, Market Growth Trends, Market Limiters, Competitive Analysis & SWOT for Top Competitors, Mergers & Acquisitions, Company Profiles, Product Portfolios

Market Size, Market Shares, Market Forecasts, Market Growth Rates, Units Sold, and Average Selling Prices.

Segments covered Type, Material, Application & Region
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East and Africa and rest of the world
Country scope United States, Russia, China, Germany, United Kingdom, France, Japan, Israel, Saudi Arabia, South Korea, United Arab Emirates, Canada, Switzerland, Australia, India, Italy, Turkey, Qatar, Sweden, Spain, Belgium, Netherlands, Norway, Singapore, Egypt, Denmark, Austria, Vietnam, Brazil, Argentina, Mexico, South Africa, and others.
Key companies profiled Armstrong Flooring; Beaulieu International Group; Boral Limited; Congoleum Corporation; Crossville Inc.; Forbo Flooring Systems; Gerflor; Interface, Inc.; Johnsonite; Kährs Group; Kronospan; LG Hausys; Mannington Mills; Marazzi Group; Mohawk Industries Inc.; Pergo; RAK Ceramics; Shaw Industries Group Inc.; Tarkett and others
Customization scope Free report customization (equivalent up to 20 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.
Report Format PDF, PPT, Excel & Online User Account

 

By Material

  • Resilient Flooring
  • Vinyl
  • Others
  • Non-Resilient Flooring
  • Ceramic tiles
  • Wood
  • Laminate
  • Stone
  • Others
  • Soft floor covering/ Carpets & Rugs

 

 

By End-use:

  • Non-residential
  • Residential

 

 

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)
  • Rest of the World

 

Companies Covered in Report:

Armstrong Flooring Kronospan
Beaulieu International Group LG Hausys
Boral Limited Mannington Mills
Congoleum Corporation Marazzi Group
Crossville Inc. Mohawk Industries Inc.
Forbo Flooring Systems Pergo
Gerflor RAK Ceramics
Interface, Inc. Shaw Industries Group Inc.
Johnsonite Tarkett
Kährs Group

After Sales Support

  • Every updated edition of the report and full data stack will be provided at no extra cost for 24 months.
  • Latest 2022 base year report.
  • Free Updated edition of 2023 every quarter without any hidden cost.
  • No user limitation for the report. Unlimited access within the organization.
  • Unrestricted post-sales support at no additional cost
  • Free report customization (equivalent up to 10 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
  • Global Industry Reports will support your post-purchase for a period of 24 months to answer any of your queries related to the following market and to provide you any more data needed, for your analysis.
  • Option to purchase regional or some selected Chapters from the report.

Key questions that are answered in this report

  • What are the major drivers driving the growth of the flooring market?
  • What is the major challenge in the flooring market?
  • What are the restraining factors in the flooring market?
  • What is the key opportunity in the flooring market?
  • What are the end-use industries where flooring materials are used?
  • Executive Summary
  • Research Methodology
    • Primary Research
    • Secondary Research
    • Market Analytics
    • Revenue Forecasting
  • Market Overview
    • Market Definition
    • Scope of the Study
      • Research Objectives
      • Assumptions & Limitations
      • Market Structure
    • Market Dynamics
      • Introduction
      • Microeconomic Factor Analysis
      • Market Evolution
      • Technology Roadmap
      • Demand-Supply Dynamics
      • Growth Drivers
      • Restraints
      • Opportunities
      • Challenges
      • Sustainable Strategies
    • Market Trend Analysis (Product Analysis, Technology Analysis, Application Analysis)
    • Industry Analysis
      • Profitability analysis
      • Supply Chain & Value Chain Analysis
      • Porter’s Five Forces Analysis
        • Bargaining power of Suppliers
        • Bargaining Power of Buyers
        • Threat of substitutes
        • Threat of new entrants
        • Degree of Competition
      • PEST Analysis
      • Upstream and downstream profitability analysis and opportunities

Global Market Scope

  1. Market analysis by product category
  2. Market analysis by component / type
  3. Market analysis by technology
  4. Market analysis by application
  5. Market analysis by industry vertical
  6. Market analysis by end-use
  7. Market analysis by emerging technologies, trends and applications
  8. Market analysis by region
    • North America
      • US
      • Canada
      • Mexico
      • Others
    • South America
      • Brazil
      • Argentina
      • Chile
      • Colombia
      • Peru
      • Venezuela
      • Ecuador
      • Others
    • Europe
      • Germany
      • France
      • UK
      • Russia
      • Italy
      • Spain
      • Sweden
      • Netherlands
      • Poland
      • Austria
      • Belgium
      • Finland
      • Norway
      • Switzerland
      • Denmark
      • Czech Republic
      • Portugal
      • Others
    • Asia-Pacific
      • China
      • Japan
      • South Korea
      • Taiwan
      • India
      • Australia
      • Indonesia
      • Philippines
      • Malaysia
      • Others
    • Middle East
      • Iran
      • Turkey
      • Kuwait
      • UAE
      • Israel
      • Oman
      • Bahrain
      • Saudi Arabia
      • Qatar
      • Egypt
      • Others
    • Africa
      • Algeria
      • Libya
      • South Africa
      • Sudan
      • Zimbabwe
      • Others
  1. Competitive Landscape
    • Introduction
    • Market share analysis by key market players (North America, South America, Europe, APAC, Africa)
    • Market Strategy
    • Mergers and Acquisitions
    • New Product Launches
    • Asset Transactions
    • Financial Announcements
  2. Company Profile (key market players)
    • Company profile 1
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 2
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 3
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 4
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 5
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 6
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 7
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 8
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 9
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
    • Company profile 10
      • Company Overview
      • Strategic Initiatives
      • Financial Analysis
      • Product Benchmarking
      • SWOT Analysis
  1. Other Companies

150+

Methodology

Research Methodology is the process used to collect information and data for the purpose of making business decisions. The success of a research project is entirely dependent on the research methodology adopted by the company. Research Methodology and Scope We have implemented a mix of primary and secondary research for our market estimate and forecast. Secondary research formed the initial phase of our study, where we conducted extensive data mining, referring to verified data sources such as independent studies, company annual reports, white papers, case studies, government and regulatory published articles, technical journals, magazines, and paid data sources. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for respective regions. The primary sources from the supply side included industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related executives from key companies and organizations operating in the respective regions. The primary data has been collected through questionnaires, e-mails, and telephonic interviews, end-user surveys, consumer surveys, technology distributors and wholesaler’s surveys.

  • Quantitative methods (e.g. surveys) are best for measuring, ranking, categorizing, identifying patterns and making generalizations
  • Qualitative methods (e.g. interviews) are best for describing, interpreting, contextualizing, and gaining in-depth insight into specific concepts or phenomena
  • Mixed methods allow for a combination of numerical measurement and in-depth exploration.

Market drivers and restraints, along with their current and expected impacts, technological scenario and expected developments, end-use industry trends and dynamics  and consumer behavior trends  these forecasting parameters were considered.

Ethical approach, attention to detail, consistency, latest trend in the market and highly authentic source these are benefits of company’s research methodology.

Global Industry Reports

Market size estimation methodology top-down and bottom-up approaches

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the virtual reality market. These methods have also been extensively used to estimate the sizes of various market subsegments. Estimating the size of the market in each region by adding the sizes of country-wise markets and tracking the ongoing and upcoming implementation of virtual reality projects by various companies in each region and forecasting the size of the virtual reality market based on these developments and other critical parameters, including COVID-19 related impacts

Data Triangulation

After arriving at the overall market size—using the market size estimation processes explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. It provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, company profiles, key player strategies competitive developments and key developments) influencing the virtual reality market growth.

Statistical Model

Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development and pricing trends is fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression and time series analysis.

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