19 November 2019 - Flooring Market to reach USD 326.38
billion by 2020. Innovations and new developments in construction solutions and
floor designs have been the key drivers of the flooring market. The industry
depicts high competitiveness as numerous companies are offering a broad range
of solutions in commercial, residential, industrial and various other sectors.
The market for floor coverings is hugely influenced by new technological
developments and styling trends.
The suppliers of raw material, manufacturers and
distributors act as key elements of the market value chain. The key players in
the industry include Mohawk Industries, Manningtion Mills, Inc, Armstrong
Flooring, Inc., Shaw Industries Group, Inc., and Gerflor. Currently, the market
depicts intense competition as key players are focusing on product innovation
and use of advanced technologies so as to offer value added brands in the
global industry.
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In the last few years, end-users have been shifting from
traditional flooring solutions and moving towards eco-friendly and highly
cost-effective flooring materials that include cork, bamboo, linoleum,
polyester, glass, reclaimed hardwood, and rubber. Moreover, changing consumer
lifestyles along with increasing demand from the construction industry and
insulation markets are likely to drive the demand over the years ahead. Due to
the availability of advanced construction materials that offer durability and
require less maintenance, the industry growth is expected to be favorable over
the years ahead. However, a major factor influencing the industry growth is
awareness among consumers & their willingness to use the product. Flooring
solutions are perceived as complex from the installation point of view.
Additionally, they are generally viewed as luxurious and
expensive. These consumer perceptions might act as a key challenge to the
industry. Rising concerns regarding environmental impacts of the flooring
material is likely to have a significant effect on the textile flooring
industry. For instance, carpets that are treated with harmful chemicals in
order to repel soil and moisture to prevent moths are likely to cause health
problems.
Market Segment:
Flooring Product
Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
• Soft
Coverings
• Resilient
Flooring
•
Non-Resilient Flooring
• Seamless
Flooring
Flooring Application
Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
• Residential
• Commercial
• Industrial
Flooring Regional
Outlook (Volume, Billion Square Feet & Revenue, USD Billion; 2012 - 2020)
• North
America
• Europe
• Asia Pacific
• RoW
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Product Insights
The industry is divided into four main segments such as
resilient, seamless, and non-resilient flooring, and soft coverings. Soft
coverings are also referred to as textile coverings and, this product category
mainly consists of carpets and rugs. It dominated the industry and had a share
of more than 50% of the total market in 2013. Soft coverings provide various
benefits such as dust-binding, noise-reducing effects, and they are also known
for acting as good insulators that provides warmth, pleasing aesthetics and
comfort.
Resilient product category consists of a mixture of binders,
fillers and color. The various sub-types of this category include cork, rubber,
wood, asphalt, linoleum and vinyl; these are cost effective, waterproof,
durable and are low maintenance. Non-resilient category consists of ceramic
tile, concrete tile, clay tile, brick and terrazzo stone. These floor materials
usually remain strong under various atmospheric conditions.
Application Insights
Residential, industrial and commercial are the major
application segments of the market. Due to the increasing demand in
construction industry as well as increased product demand for housing projects,
so as to improve homes and their renovation, the residential sector is likely
to witness significant growth in the next couple of years. Improved standard of
living and rising disposable income of consumers are expected to foster the
development of floorings market over the coming years. Flooring materials are
utilized for various commercial sub-applications that include hospitality and
leisure, healthcare, corporate, retail, education, and sports. The industrial
application segment includes manufacturing plants, automotive, refineries,
aviation hangars, etc.
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