Flooring is the covering of a floor permanently. The term also explains about the finished material that is applied over the floor structure so as to provide a walking surface.
Different material are used for covering the floor. The market is driven by various factors such as growing construction industry, introduction of new trends and technological advancements.
The flooring market has various constraints that hinder the market such as growing environmental concern.
Flooring market is segmented on the basis of type that includes soft covering, resilient, non- resilient, and others. The study indicates, Soft Covering segment accounted for the largest market share of 35.80% in 2016.
On the basis of material, market can be segmented into carpets, tiles, vinyl & rubber, wood, and others. The study indicates, carpets accounted for the largest market share with a market value of USD 43.2 billion in 2016.
Furthermore, on the basis of application, the market has been segmented into residential, commercial, and industrial. Residential segment accounted for the highest CAGR of 4.40% during the forecast period.
The global flooring market was valued at USD 121.4 billion in the year 2016, which is expected to reach USD 161.4 billion by the end of the forecast period growing at 4.25% CAGR.
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The key players of global flooring market includes RPM International Inc., Mohawk Industries, Inc., Tarkett Group, Armstrong World Industries, Inc, Shaw Industries Group Inc, Forbo Group, Nature Home Holding Company Limited, Mannington Mills Inc., Beaulieu America, and Interface Inc.
Objective of Global Flooring Market Analysis & Forecast, from 2017 to 2023
- To provide detailed analysis of the market structure along with forecast for the next 6 years of various segments and sub-segments of the Flooring market
- To provide insights about factors affecting the market growth
- To analyze the global flooring market based on various tools such as Value Chain Analysis, and Porter’s Five Force Analysis
- To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segments by type, material, application and region
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the flooring market
- Flooring manufacturers
- Distributer & Supplier companies
- End Users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
- The global flooring market is expected to reach USD 161.4 billion by 2023.
- By Type, soft covering segment in flooring market accounts for the largest market share and is growing with approximately ~4.65% CAGR during forecast period.
- By material, carpets segment in flooring market accounts for the largest market share and is growing with approximately ~4.39% CAGR during forecast period
- By application, residential segment in flooring market accounts for the largest market share and is growing with approximately ~4.40% CAGR during forecast period
- Geographically, Asia-Pacific accounted for the largest share in global flooring market followed by Europe region, while Asia-Pacific region is projected to grow at the highest CAGR of 4.50%
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Regional and Country Analysis of global flooring market Estimation and Forecast
The global Flooring market is expected to grow at a promising rate during the forecast period. Asia-Pacific is projected to have the largest share in global flooring market.
The main driving factors in the Asia-Pacific region include growth in spending capacity, rising urbanized population, and increase in industrialization. Europe is expected to be the second largest growing region in flooring market.
The growth of Europe flooring market can be attributed to a sudden rise in the residential replacement activities. In addition, increasing awareness of the benefits of using eco-friendly materials in floor covering manufacturing is also expected to open new opportunities for market growth in coming years.
The reports also cover country level analysis:
- North America
o Rest of the Europe
o Rest of Asia-Pacific
- Rest of the World
o South America
o Middle East & Africa
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