Gmi Research's blog : Flooring Market Size, Share, Growth & Analysis Report, 2029
Flooring Market
GMI Research presumes that the Flooring Market generated a revenue of USD 257.0 billion in 2021 and is expected to touch USD 403.5 billion in 2029, growing at a CAGR 5.8%.
The factors driving the growth of Flooring Market includes rapid growth in the construction industry, increase in the number of renovation and remodeling activities around the world, rising demand for exquisite designs and easy to install flooring and growing emphasis on developing environment friendly flooring solutions. According to the report published by Statista, the Home Décor Market in the United States was calculated around USD 169 billion in 2019 and is predicted to reach USD 202 billion by the end of 2024, which will accelerate the Global Flooring Market in the approaching years. Moreover, the rise in the launch of innovative products, growing adoption of advanced technologies by manufacturers, improvements in the designs and texture of flooring solutions and strict regulatory framework on the production of floorings, are some of the additional factors supplementing the Flooring Market Growth. In addition, the increasing investments by leading players on research, rising popularity of vinyl flooring in the residential areas, growing population growth rates and rapid urbanization, are further contributing to the market growth.
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However, the growth of Flooring Market is hindered attributed to fluctuations in the prices of raw materials.
The major players operating in the market are, Beaulieu International Group, Interface, Inc., Milliken & Company, Shaw Industries Group, Inc., Mohawk Industries, Inc., Forbo, AFI Licensing LLC, Tarkett, Gerflor, and TOLI Corporation, among others.
Based on Material, the Resilient Flooring segment is predicted to grow at a significant CAGR during the forecast period
As per the Flooring Market Analysis, increasing demand for resilient floorings in the residential and commercial buildings, is the major factor responsible for the segment’s growth.
Based on End-Use Industry, the Residential segment is projected to grow at a robust CAGR over the forecast period
Rise in the number of remodeling and renovation activities in the residential areas, is propelling the growth of the segment.
Based on Region, the Asia-Pacific region, is anticipated to capture the largest market share during the forecast period
Growing demand for consumer goods, increasing availability of home décor items at the online platforms, rapid urbanization, rising disposable incomes, increase in the construction of residential building and high population growth rates, are some of the important factors augmenting the Flooring Market size in Asia-Pacific.
Key Developments
- In 2021 Armstrong Flooring launched Luxury flooring collections Exchange and Theorem, are manufactured in the United States, which will support the category-leading scratch, stain, and scuff performance.
- In 2019, Shaw Industries Group, Inc. introduced COMFOR3T, which can be recycled and reused multiple times.
- In 2019, Tarkett collaborated with DYNAMIK, which is a specialist of the sports floor. Through this collaboration, both the companies are targeting to provide better solutions to schools, universities, and sports facilities regarding the playing surfaces.
Market Segmentation
Segmentation by Material
- Non-Resilient Flooring
- Wood
- Ceramic Tiles
- Stone
- Laminate
- Others
- Soft Floor Covering/Carpets & Rugs
- Resilient Flooring
- Vinyl
- Others
Segmentation by End-Use Industry
- Non-Residential
- Residential
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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