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 Sales, Average Selling Prices, Market 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:

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:

After Sales Support

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• Latest 2022 base year report.
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• 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?